30 April 2013 16:55 [Source: ICIS news]
MEDELLIN, Colombia (ICIS)--Vitro, a large Mexican glass producer, plans to invest more than Mexican pesos $1.777bn ($146m, €111m) this year to increase manufacturing capacity in Mexico, the company said on Tuesday.
"The amount shall represent an increase of 65% with respect to the investment achieved in 2012 and shall be directed towards increasing the melting capacity in glass containers and automotive glass, as well as to the application of a series of improvements in our equipment and facilities in order to strengthen our leadership in the market," chairman of the board, Adrian Sada Gonzalez said.
Regarding investment details for this year, 89% of the budget will be directed towards operations in Mexico, mainly to increase the manufacturing capacity of some of the furnaces and to improve and update the plants in their technological processes as well as in equipment and human capital, chief executive Adrian Sada Cueva said.
"These include the necessary activities required for the increase in the manufacturing capacity of one our furnaces, which produces glass containers in the Queretaro plant, in order to transform it into the largest of its kind in Latin America," Sada Cueva said.
"A 75% capacity increase of the manufacturing furnace of the glass plant in Bolivia and the investment of an automotive pressing furnace will provide a capacity increase as well as new skills required for this challenging market," he said.
The global flat glass market is largely dominated by four major manufacturers including AGC, Saint-Gobain, NSG and Guardian.
($1 = Ps 12.13, $1 = €0.76)
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