Vitro to Invest $140 Million in Furnace and Plant Upgrades in 2013
Vitro announced plans to invest more than $1.7 billion pesos (about $140 million) this year to increase furnace capacity and upgrade its plants. Eighty-nine percent of the investment will be directed to operations in Mexico.
“The amount shall represent an increase of 65 percent 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 after overcoming this challenging period for the company, said Adrián Sada Cueva, CEO, in a release.
Vitro saw an increase in net sales of 10.3 percent in 2012, it reported.