Shareholders Meeting Approves Sale of Vitrocrisa and 2005 Financial
Last week Vitro S.A. de C.V., celebrated its Annual General Shareholders Meeting
in which the sale of Vitrocrisa to Libbey, Inc. for $103 million
dollars and 2005 financial results were approved.
The Annual Meeting acknowledged Glass Containers annual sales record,
which surpassed the $1 billion dollar mark, as well as the slight
improvement of the flat glass business unit by year end of last
year, which impacted positively the results to register a net gain
The improvement in the 2005 consolidated annual results as compared
to those of 2004, took place despite the negative impact of the
electricity and natural gas prices.
"We've delivered on our strategy to become a glass company
and are continuing to
deliver on our commitment to strengthen our financial structure.
We are building a
stronger company as we move forward toward 2007." said Federico
Sada, Vitro's chief executive officer.