Reuters - Mexican glassmaker Vitro, which went through a bankruptcy reorganization in 2011, said it will pay down convertible debt due to expire in 2015. Vitro said it will pay debt and interest on the notes, a total of $122.4 million.Companies
Riedel Communications opens sales office in Mexico City
TV Technology - Riedel Communications has opened a dedicated sales outlet in Mexico City to address growing demand for real-time video, audio, data and communications network solutions in Mexico, Central America, and the Caribbean.
Arburg installs hundreds of presses for Lego
Plastics News - Arburg GmbH & Co. has completed the installation of several hundred injection molding machines at the Mexico plant in Ciénega de Flores near Monterrey of toy-brick maker Lego.
Industrias CH to provide pipe for TransCanada pipeline
Sentido Comun - Industrias CH, a Mexican company dedicated to the production of steel plants in Mexico, USA and Canada, said it signed a contract with TransCanada Pipelines to provide 117.5 miles of pipe 30 "in diameter in the next 14 months.
Concours Mold is doubling production space in Puebla
Plastics News - Concours Mold Inc. is investing $5.5 million to almost double the size of its manufacturing facility in Huejotzingo, in the state of Puebla. The Ontario company opened the plant in July 2010.
Analysis: Reform pits America Movil vs. Televisa
Reuters - Mexico's ambitious bid to overhaul its phone and television markets threatens to eat into revenue of the major players, telecoms tycoon Carlos Slim and TV mogul Emilio Azcarraga, and may force the two to seek new business on each other's turf.
www.reuters.com/article/2013/03/12/us-mexico-telecoms-impact-idUSBRE92B16Y20130312
Cayman Islands revoke HSBC banking license
CayCompass.com - The Cayman Islands has revoked the banking licence for the local branch of HSBC Mexico. Internal HSBC documents showed that the Cayman accounts had operated with deficient anti money laundering and know your customer information.
www.compasscayman.com/caycompass/2013/03/13/Regulators-revoke--banking--licence-of--HSBC-Mexico-SA/
Builders fall on third day on financing concerns
Bloomberg - Mexico’s biggest homebuilders tumbled for a third day after meetings with investors in New York and London failed to quash concern that the companies will struggle to finance themselves amid increased costs.
www.businessweek.com/news/2013-03-11/builders-fall-third-day-on-financing-concerns-mexico-city-mover
Banorte completes acquisition of Bancomer's Afores unit
EFE- Mexico's Grupo Financiero Banorte said it completed its $1.7 billion acquisition of the retirement management business of Bancomer, which is controlled by Spanish banking giant BBVA.
Venus Remedies gets approval to sell drug in Mexico
Business Standard - Venus Remedies, a research-based pharmaceutical company, has received grant of market authorization from Mexico for its Meropenem 500mg and Meropenem 1000mg. At present, Meropenem sales account for $16.3 million in Mexico.
IPC index falls 1 percent on telecom reform
Reuters - Mexico's benchmark IPC stock index fell 1.13 percent on Monday, dragged lower by Carlos Slim's phone company America Movil and Emilio Azcarraga's broadcaster Televisa, both targets of reform that aims to curb the companies' dominance.
www.reuters.com/article/2013/03/11/mexico-stocks-idUSL1N0C348X20130311
