In 2023, the company estimates that it will have invested approximately $164 million in its operations in Mexico, for strategic projects such as the new packaging oven in Toluca and the new Coater 8 architectural glass in Mexicali.

Vitro seeks to raise capital for 200 million dollars (mdd) through a new international company, to support the portfolio of high-growth projects, strengthening its ability to take advantage of nearshoring opportunities.

Check here: CDMX maintains the pace of industrial investments, reporting 536 thousand m² under construction

For this reason, he maintained that the company dedicated to the manufacture of glass in North America will undertake the necessary actions to obtain said capitalization, thereby strengthening its global expansion.

“Going forward we see many growth opportunities, similar and even larger than those we have already achieved this year, many driven by dynamics such as nearshoring,” said Adrián Sada Cueva, general director of Vitro.

He pointed out, through a statement, that the new international company: will invite only current shareholders to participate equitably in the funding of the capital of the new firm, a plan that will be submitted for approval by the Shareholders' Assembly, as it seeks to strengthen operations and continue investing in Mexico.

Vitro made it clear that the plants and operations will remain unchanged, as they operate until today, both in Mexico and in the rest of the world.

In 2023, the company estimates that it will have invested approximately $164 million in its operations in Mexico, for strategic projects such as the new packaging oven in Toluca and the new Coater 8 architectural glass in Mexicali.

Of interest: Guadalajara's industrial vacancy rate exceeds 2% during October 2023

Additionally, they will invest some 180 million dollars to boost their capacity to supply photovoltaic glass for solar panels made in North America, through contracts that will generate estimated sales of 2,300 million dollars in a period of 10 years from the date of validity.

“A new affiliated company will enhance the growth of operations by facilitating access to funding in international markets,” management said.

In Solili you can consult industrial warehouses available in Guadalajara and Querétaro 

Original note