Companies

Companies

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

Constellation shares drop after Modelo files suit

Reuters - Shares of Constellation Brands Inc. fell as much as 7.1 percent Wednesday on investor concerns that a lawsuit by Mexico's Grupo Modelo over the companies' U.S. joint venture could hit a key segment of Constellation's profits.

www.reuters.com/article/idUSTRE5BF3M220091216

Dana Corp. sells vehicle frame unit to Metalsa

The Detroit News - Michigan's Dana Holding Corp. has signed an agreement to sell its global Structural Products business to Metalsa, Mexico's largest vehicle frame and structures supplier. The purchase price is $150 million. The operations being sold generated about $695 million in revenue in 2008.

www.detnews.com/article/20091216/AUTO01/912160423/1361/Dana-Corp.-to-sell-Structural-Products-to-Mexican-supplier

Sky passes on most of new tax with 2.8% rate increase

El Semanario - The Sky cable television company, owned by Gupo Televisa, has decided to pass on most of the new 3 percent telecommunication tax passed by Congress and has announced an average increase of 2.8 percent on its satellite TV packages.

www.elsemanario.com.mx/news/news_display.php

Modelo sues Constellation in U.S. federal court

El Semanario - Grupo Modelo through its U.S. subsidiary, Gmodel Corp., has filed suit in Manhattan Federal Court against Constellation Beers and certain entities affiliated with it for violations of its fiduciary duties in its contract to distribute Corona.

www.elsemanario.com.mx/news/news_display.php

80% of micro, small and medium business fail in 1st year

El Financiero - More than 80 percent of micro, small and medium enterprises in Mexico fail during their first year because of a lack of customers, management failures, financial setbacks and tax problems, warned René Torres Fragoso, CEO of Contpaq i.

www.elfinanciero.com.mx/ElFinanciero/Portal/cfpages/contentmgr.cfm

Coparmex backs policy changes, suggests more

El Financiero - The Employers Confederation of Mexico (Coparmex) has urged the national legislature to approve the policy proposals of President Felipe Calderon and also consider proposals decreasing the political parties campaign financing and designing tools to increase transparency and accountability.

www.elfinanciero.com.mx/ElFinanciero/Portal/cfpages/contentmgr.cfm

Costco will continue gradual expansion in Mexico

CNNExpansion.com - Costco chief executive Jim Sinegal, upon the opening of its 32nd store at Tlajomulco de Zuniga, Jalisco, said the corporation with its partner Comercial Mexicana will continue to grow the business gradually in Mexico.

www.cnnexpansion.com/expansion/2009/11/25/tenemos-grandes-socios-en-comerci

Banobras to cut lending 31 percent next year

Bloomberg - Mexico’s public works development bank plans to reduce lending 31 percent next year as the credit market for infrastructure investment recovers, bank chief executive Alonso Garcia Tames said. The bank will fund 45 billion pesos ($3.6 billion) in infrastructure projects in 2010.

www.bloomberg.com/apps/news

Axtel, Unisys win identity card competition

CNNExpansion - A consortium made up of Axtel and Unisys de Mexico won the public tender to provide the computer infrastructure for providing the the National Personal Identification Number, the Interior Ministry reported.

www.cnnexpansion.com/actualidad/2009/12/14/axtel-y-unisys-ganan-concurso-de-cedula

Syndicate content