Companies

Companies

Conasami accepts 4.8% salary increases in 2010

CNNExpansion.com - The Council of Representatives of the National Minimum Wage (Conasami) has agreed to a 4.85 percent increase in salaries in 2010. According to a survey by Deloitte, 26 percent of companies in Mexico do not plan to offer employees any pay increase in 2010.

www.cnnexpansion.com/economia/2009/12/17/el-aumento-salarial-sera-de-485-en-201

Quaterra and Goldcorp join forces on exploration

CNNMoney.com - Quaterra Resources Inc. has signed a letter of intent with Goldcorp Inc. giving it an option to acquire an interest in certain mining properties in central Mexico in return for funding Quaterra exploration through a private placement of $10 million over two years.

money.cnn.com/news/newsfeeds/articles/marketwire/0570162.htm

Promotora Ambiental aquires Puebla waste company

Dow Jones - Mexican waste collection firm Promotora Ambiental said Thursday that it has agreed to acquire rival company Servicios Urbanos de Puebla, for an undisclosed amount. The company is expected to generate revenue of abut $6.4 million this year.

online.wsj.com/article/BT-CO-20091217-715828.html

Insurer Qualitas expects growth next year

Dow Jones - Mexico's largest auto insurance company, Qualitas Compania de Seguros, expects to post modest sales growth in 2010 after a recession hurt business this year. Qualitas premiums will probably grow in low single digits as a recovery in the economy boosts domestic vehicle sales.

online.wsj.com/article/BT-CO-20091217-709435.html

Telmex to start paying extraordinary dividend

El Semanario - Telefonos de Mexico announced that on Wednesday it will start paying the extraordinary dividend of 0.40 pesos per share approved at its general shareholders meeting Dec. 1.

www.elsemanario.com.mx/

Five new savings and loans approved

Sentido Comun - The National Banking and Securities Commission has approved establishment of five new savings and loans: Sistemas de Proyectos Organizados en Comunidad (Tabasco), Caja Solidaria Guachinango (Jalisco), Caja Popular las Huastecas (Querétaro) y Consejo de Asistencia al Microemprendedor (the Federal District.

www.sentidocomun.com.mx/breves.phtml

BB Licenses to open Barbie stores, first in Santa Fe

Sentido Comun - The Mexican company BB Licenses obtained the license from toymaker Mattel to open Barbie stores in Mexico and Latin America. The first Barbie store with 600 square meters will be in the Santa Fe Shopping Center in the capital.

www.sentidocomun.com.mx/breves.phtml

Cisa wins bid to build $32 million Pemex pipeline

Dow Jones - Mexican construction firm Carso Infraestructura y Construccion said Wednesday it has won a contract worth about 403 million pesos ($32 million) to build a 14.7-kilometer pipeline in Tabasco and Chiapas for state-owned oil monopoly Petroleos Mexicanos.

online.wsj.com/article/BT-CO-20091216-716549.html

Geo expects revenues to rise 10% in 2010

Reuters - Mexican homebuilder Geo expects its revenues to grow by 10 percent in 2010, Chief Executive Luis Orvananos said. The Mexico City-based homebuilder. which focuses on homes for low-income families, posted a 5 percent increase in the third quarter.

www.reuters.com/article/idUSN1613220820091216

Alsea places $23.6 million in notes on debt market

Dow Jones - Mexican restaurant operator Alsea, which operates Starbucks Coffee, Chili's Grill & Bar, California Pizza Kitchen and P.F. Chang's, said Wednesday it placed 300 million pesos ($23.6 million) in three-year notes on the local debt market.

online.wsj.com/article/BT-CO-20091216-716565.html

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