Vitro reaches agreements to end legal actions and finalize restructuring process

Glass Magazine
March 4, 2013
COMMERCIAL, RETAIL, FABRICATION : BUSINESS

Vitro, S.A.B. de C.V. announced that it has entered into agreements with creditors in Mexico and the United States that will end litigation between the Mexican glass manufacturer and its creditors, enabling the company to conclude its restructuring process. Vitro has reached a settlement agreement with certain non-consenting creditors and other parties, and a separate agreement with its financial partner, Fintech, it reports.

“These agreements allow us to close the book on a challenging period for our company and focus entirely on our business and meeting our customers’ needs,” said Adrián Sada González, chairman of the board of directors, in a release.

Vitro looks forward to executing its strategic plan for growth internationally, primarily in the U.S., where it had 2012 flat glass sales of $117 million, according to the release.

Read the full release...