Reuters - Mexican telecommunications company Maxcom, which provides phone, Internet and television services, said that it was seeking to negotiate new capital and a restructuring through a so-called prepackaged bankruptcy process in U.S. courts.Companies
Four Seasons Mexico City sold for $54 million
PRNewswire - Strategic Hotels & Resorts a real estate investment trust (REIT), announced that the company closed on its disposition of the Four Seasons Mexico City hotel to an affiliate of Meridia Capital for a purchase price of $54 million.
www.reuters.com/article/pressRelease/idUS247383+29-Oct-2009+PRN20091029
Acatel seeks dismissal of Cofetel chief Osuna Jaime
El Economista - Axtel is seeking the dismissal of Hector Osuna Jaime as chairman of the Federal Telecommunications Commission (Cofetel), saying he has ignored for three years 25 complaints that its long-distance mobile interconnections were blocked.
Vitro reduces losses by 54% in third quarter
El Economista - Vitro, one of the world's largest glass producers and distributors, reduced its losses by 54 percent in the third quarter, compared to the same period in 2008.
Cemex willing to negotiate directly with Venezuela
El Economista - Mexican cement giant Cemex indicated its willingness to negotiate directly with the government of Venezuela, outside of an international arbitration process, to resolve issues in the 2008 nationalization of its assets in that country.
Pemex reports losses but less than last year
Dow Jones - Mexican state oil monopoly Petroleos Mexicanos said Wednesday it made an after-tax loss of 3.7 billion pesos ($274 million) in the third quarter, smaller than the 14.4 billion peso loss a year ago on the lower cost of imported goods and smaller tax payments.
Comercial Mexicana turns steep losses into profits
Reuters - Mexican retailer Comercial Mexicana, in the midst of a debt restructuring, said on Wednesday it had a third-quarter, net profit compared with a steep loss in the year ago period.
www.reuters.com/article/companyNewsAndPR/idUSN2832290320091028
Modelo profit rises 33% on higher beer sales
Dow Jones - Mexican brewer Grupo Modelo said Wednesday its net profit rose 33 percent in the third quarter on higher sales and operating gains. Modelo, which makes the Corona beer brand, said sales in the quarter rose 11 percent from the year-ago period.
Gruma turns losses around for $3.3 million net
Dow Jones - Mexican corn flour and tortilla maker Gruma said Wednesday it made a net profit of 45 million pesos ($3.3 million) in the third quarter, compared with a 1.77 billion loss a year ago brought about by derivatives losses.
Femsa's net rises 25% driven by soft drink sales
Reuters - Mexican brewer and bottler FEMSA posted a 25 percent jump in third-quarter net earnings on Wednesday, driven by strong results from its soft drinks unit. July-September net majority profit came in at 2.521 billion pesos ($187 million), compared with 2.020 billion pesos last year.
Two new Japanese auto plants to open in Mexico
El Economista - Japanese Ambassador to Mexico Masaaki Ono announced that two new auto parts plants will being operating in Mexico with Japanese investment. He did not name the companies but siad they will be located in Leon and Monterrey.
