PRNewswire – Hanon Systems, a global provider of thermal solutions, plans to start production at a new plant in Monterrey to support the company’s growth in support of global vehicle manufacturers.
Monthly Archives: October 2015
Losses at ICA triple in third quarter
Reuters – The net loss at Mexico’s ICA more than tripled in the third quarter from the same period a year earlier to 2.507 billion pesos ($148 million), hit by rising financing costs caused by the weak peso.
http://www.reuters.com/article/2015/10/29/mexico-ica-idUSL1N12S40S20151029
Penoles net profit plunges 86.6 percent in 3rd Q
Mining Weekly – Mexican mining company Penoles reported a third-quarter net profit of 155.6-million pesos ($9.19-million), down 86.6 percent from the same period a year earlier as a slump in the peso pushed up costs.
http://www.miningweekly.com/article/profit-at-mexicos-penoles-tumbles-866-in-q3-2015-10-29
Major upgrade planned for key Mexican highway
World Highways – A major upgrade of Mexico’s Atizapan-Atlacomulco road link is being planned. The work is expected to commence in 2016 and will cost in the region of $182.63 million.
1,000-pound man undergoes weight reduction surgery
EFE – A Mexican who is considered the most obese man in the world underwent successful weight reduction surgery, with doctors saying the operation unfolded without complications.
Femsa reports 3.5% increase in 3rd Q profit
Reuters – Mexican bottling and retail company Femsa reported a 3.5 percent increase in third-quarter profit. The company reported a profit of 4.974 billion pesos ($294 million).
http://www.reuters.com/article/2015/10/28/mexico-femsa-idUSEMN4NYEXU20151028
Mexico moves to scale back successful tax on sugary drinks
By Elisabeth Malkin / New York Times
Soft drinks are so deeply embedded in the diet here that they have become part of the dining tradition, from the taco stand to the white- linen restaurant. Whether lunch consists of corn tortillas and beans, or meat in sauces infused with cacao and fragrant spices of Aztec origin, it usually goes with something fizzy.
And sugary.
The seemingly unquenchable thirst for soda in Mexico has made the soft drinks industry economically and politically powerful; a former president, Vicente Fox, rose to prominence as a Coca-Cola executive.
But that thirst has also contributed to an obesity epidemic. Looking for a way to attack the problem two years ago, the Mexican government consulted public health experts and imposed a national tax of about 10 percent on sugary drinks.
Now, just as the evidence suggests that the tax is beginning to work, a proposal to lower it has popped up in Congress.
Mexico seizes homes, planes in search for Chapo
AFP) – Mexican authorities have searched several homes in three states and seized 11 small airplanes in their hunt for fugitive drug kingpin Joaquin “El Chapo” Guzman, prosecutors said Tuesday.
http://news.yahoo.com/mexico-seizes-planes-homes-search-drug-lord-234824666.html
Jorge Ramos: Mexico’s corruption problem
Fusion – President Enrique Peña Nieto’s administration is fed up with the persistent complaints from his fellow Mexicans. So much so that the government recently produced an online ad titled “Enough!” The wave of criticism that broke on social media after the ad was released led to its swift removal from the government’ website. The overwhelming response to this wrongheaded campaign underlines the fact that Mexicans are tired of Peña Nieto and his inability to deal with serious issues in Mexico. Take an issue like corruption, for instance.
http://fusion.net/story/222283/jorge-ramos-mexico-corruption/
Scuba diver photographs ancient Mayan sinkhole
Daily Mail -A daring photographer has plunged the depths to capture these stunning pictures of an ancient Mayan sinkhole. The 400-ft pit in Quintana Roo is believed to be an ancient sacrificial Mayan site filled with animal and human bones.
Military to wear cameras in response to rights issues
InSight Crime – Mexico’s military is to introduce body cameras for soldiers as part of efforts to rebuild a human rights record tarnished by recent scandals, but experiences elsewhere suggest such measures alone will not be enough to end abuse and impunity.
Ancestry Mexico launches with 220 million records
Marketwired – Ancestry has launched new online services that will help Mexicans and an estimated 34 million Mexican-Americans research their family history with more than 220 million searchable historical records.
Monsanto seeks higher sales, pending GMO decision
Reuters – Agricultural giant Monsanto hopes to double its sales in Mexico over the next five years, depending in part on whether permits for the cultivation of commercial-scale genetically modified corn are approved in the country.
http://www.reuters.com/article/2015/10/28/mexico-monsanto-idUSL1N12S00D20151028
Mexico’s prettiest cities: A list of the top 15
Mexico News Daily – Mexico has many cities that are truly architectural and cultural jewels, according to the website MéxicoDestinos, which has come up with a list of what it believes are the top 15, the prettiest cities in the country.
http://mexiconewsdaily.com/mexicolife/mexicos-nicest-cities-a-list-of-the-top-15/
Wal-Mex profit up in third quarter on strong sales
WSJ – Retailer Wal-Mart de Mexico reported a 21.5 percent rise in net profit in the third quarter as a recovery in consumption in Mexico contributed to double-digit sales growth.
http://www.wsj.com/articles/wal-mart-de-mexico-third-quarter-profit-up-on-strong-sales-1445982746
Mexico to put F1 engines into uncharted territory
Motor Sports – Formula 1’s engines will face a journey into the unknown at this weekend’s Mexican Grand Prix, with the high altitude set to punish them like no other venue does.
http://www.motorsport.com/f1/news/mexico-to-put-f1-engines-into-uncharted-territory/
China plans to develop industrial park in Mexico
Reuters – A major state-owned Chinese company has struck a preliminary deal to develop an industrial park in western Mexico that could be one of China’s biggest-ever investments in Latin America’s second largest economy.
http://www.reuters.com/article/2015/10/27/us-mexico-china-idUSKCN0SL1V620151027
Human rights group says police killed civilians
AP – Human Rights Watch said in a report that evidence in two recent shootings in Mexico suggests federal police killed protesting civilians and criminal suspects who were fleeing or had surrendered.
Mexico economic activity grows 2.8% in August
EFE – Mexico’s economic activity rose 2.80 percent in August, compared to the same month last year, thanks to strength in the agricultural sector, the National Statistics Institute, or INEGI, said.
http://latino.foxnews.com/latino/news/2015/10/27/mexico-economic-activity-grows-28-pct-in-august/
Grupo Mexico profit falls by nearly 40 percent
Reuters – Mexican mining, rail and infrastructure company Grupo Mexico said its third-quarter net profit fell nearly 40 percent compared with the year-earlier period, hit by a drop in sales.
http://www.reuters.com/article/2015/10/27/grupomexico-results-idUSL1N12R3L220151027