Mexico in Brief
From Mexico in Brief Newsletter
LAMOSA TO INVEST IN MEXICO AND LATIN AMERICA.
Grupo Lamosa, a Mexico-based ceramic company, will invest approximately U.S.$100 million in maintenance and expansion of its operations in Mexico and Latin America.
MEDLINE INVESTS IN MEXICO.
U.S.-based manufacturer and distributor of medical supplies, Medline Industries, invested approximately U.S.$125 million in the first phase of its plant in the Mexican State of Baja California, in which sterilized trays will be manufactured for surgical use.
BANKS TO INVEST IN THE FAMACEUTIC MARKET.
The International Finance Corporation, or IFC, Banco Nacional de Comercio Exterior, or Bancomext and Monex will invest approximately U.S.$160 million to support the expansion plan of the pharmaceutical company Siegfried Rhein, in Mexico. The company is a wholly-owned subsidiary of the Argentina-based pharmaceutical Roemmers Laboratories.
RETAILERS TO CONTINUE INVESTING IN MEXICO.
Grocery and department store retail chain Organizacion Soriana will invest approximately U.S.$110 million in technology, remodeling and store updating for 2019. Additionally Walmart de Mexico y Centroamerica announced that it will invest approximately U.S.$1 billion in the equipment of its stores with omnichannel infrastructure and redesign of the logistics network.
AMERICA MOVIL TO ACQUIRE NEXTEL IN THE BRAZILIAN MARKET.
Mexico-based mobile network operator America Movil has agreed to acquire 70% stock of its competitor Nextel in the Brazilian market for approximately U.S.$905 million. The acquisition is part of a plan to combine this acquired company with its communications services brand Claro, to consolidate as one of the leading telecommunication service providers in Brazil.
PASA TO INVEST IN THE ENERGY SECTOR.
Mexico-based waste management company Promotora Ambiental, or PASA, will invest a total of approximately U.S.$25 million in four new projects, including its first electricity cogeneration plant based on biogas within one of its garbage confinements in the country.
CFE TO INVEST IN FIBER OPTICS IN MEXICO.
Comision Federal de Electricidad, or CFE, state-owned electric utility of Mexico, announced that it will launch a tender for an estimated amount of up to approximately U.S.$1.5 billion for the implementation of two dark fiber optic cables of around 50,000 kilometers to run along its transmission and distribution system and which operation and maintenance will allow it to provide free Internet to the population of approximately 8,500 points of the country, in a first stage.
CEMEX PLACES MILLIONAIRE BOND.
Cemex, Mexico-based multinational building materials company, placed a bond for a global amount of approximately U.S.$507 million with an annual coupon of 3.125% and maturity on March 19, 2026. The proceeds will be used for general corporate purposes, including the payment of debt.
MEXICAN PRESIDENT SELECTS FIRMS TO BID ON NEW OIL REFINERY.
Andres Manuel Lopez Obrador, Mexico’s President, announced the invitation of four firms, including Bechtel in consortium with Techint; WorleyParsons in consortium with Jacobs; and Technip and KBR as sole bidders, to bid on the construction of an approximately U.S.$8 billion refinery for state oil company Petroleos Mexicanos, or Pemex.