The shares of Grupo Industrial Saltillo (GIS) rose 9.62% in this Friday's session on the Mexican Stock Exchange (BMV), to 22.91 pesos, after announcing the agreement reached to sell its coatings business, under the Vitromex brand, to Mohawk Industries, an American flooring manufacturer.

For its part, the shares of Mohawk Industries, on the New York Stock Exchange, fell slightly 0.72 %.

The Mexican company led by Manuel Rivera revealed that the operation amounts to 293 million dollars and includes 100% of the shares of Vitromex USA and Manufacturas Vitromex and the resources will be used for general corporate purposes.

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"For Vitromex, this operation represents the opportunity to join one of the main players in the ceramics industry worldwide, which will allow us to accelerate the development of the business, as well as the expansion plans for production capacity", highlighted the General Director of Vitromex. GIS through the statement.

In it, he added that the purchase-sale is subject to "the usual adjustments" or the necessary regulatory approvals.

Of interest: Solili Industrial Report May 2022, national industrial inventory grows more than 350 thousand m²

GIS manufactures products for the auto parts industries, through Draxton, which represents 70% of its income. It creates kitchen items, Cina contributing 10% and Vitromex generating the remaining 20 %.

The company has 18 units in Mexico, Spain, the Czech Republic, Poland, Italy and China; as well as a presence in the United States. Mohawk operates in 19 countries and has a commercial presence in more than 160. In 2021, it reported revenues of 11.2 billion dollars, 25,000 clients and more than 43,000 employees.

In Solili you can consult industrial warehouses available in Monterrey, Ciudad Juárez and Reynosa

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