Sentido Comun – Alfa and Harbour said they reached an agreement with the Colombian oil company Pacific Rubiales to buy the rest of the company not owned by the Mexican company.
Sentido Comun – Aeromexico reached a wage agreement with the Association of Flight Attendants that includes a direct salary increase of 4.2 percent and other improvements.
Reuters – Spanish builder OHL said an internal investigation had found that its Mexican unit, which has been caught up in a scandal over corruption allegations, had not acted in an irregular manner.
PRWeek – Golin has partnered with consulting firm Zimat Consultores to open Golin Mexico, weeks after launching offices in Istanbul and Moscow.
Sentido Comun – Scotiabank, Inbursa and BanBajío banks announced a partnership under which they will share their ATMs to give customers greater access across the country.
El Siglo de Torreon – Coca Cola and Bimbo initially recorded a drop in consumption by Mexicans because of the Special Tax on Production and Services (IEPS), said a study by Kantar Worldpanel. Sales are expected to recover this year.
Notimex – The Federal Consumer Protection Agency (Profeco) published a list of the department stores with more complaints, led by Coppel, followed by Elektra, Liverpool and Sears Famsa.
Travel Weekly – JetBlue, which has already built a substantial presence in Latin America and the Caribbean, is expanding to one of the biggest markets in the region. The airline will launch daily service between Mexico City and Fort Lauderdale and Orlando on Oct. 1.
Reuters – Grupo Aeromexico reported that the US banking giant Citigroup sold its significant equity stake of nearly 16 percent in the company. Citi shares will be purchased by different shareholders and directors.
EFE – Mexican opposition senators are calling for a thorough investigation into possible wrongdoing by the Mexican unit of Spanish construction group OHL and local government authorities in the setting of highway tolls.
Chicago Sun-Times – Mondelez International, the maker of Oreos and Chips Ahoy cookies, will start talks today, Friday, with its labor unions to decide whether a bakery on Chicago’s South Side or a plant in Mexico gets a major upgrade.
EFE – Mexico’s SuKarne said it opened a packing plant in Nicaragua that will process 173,000 tons of meat annually. The $115 million plant, which is of the same design as the packing plants in Mexico, will create 500 direct jobs.
Sentido Comun – Petroleos Mexicanos canceled a third contract with Paragon Offshore for work on an oil platform this week after the state-owned oil company reduced its spending due to the collapse in oil prices.
Sentido Comun – Grupo Bimbo has launched a new natural sweetener for food and drink with no calories. The new sweetener that is made from stevia and sugar cane, will be marketed under the name Dulceo.
By James R. Hagerty / Wall Street Journal
Owens-Illinois Inc. is counting heavily on Mexico for a dash of growth in the sluggish global market for glass bottles.
The Perrysburg, Ohio-based company announced Wednesday an agreement to pay $2.15 billion for Vitro’s food-and-beverage glass container business, the largest in Mexico. The agreement includes Vitro’s five glass-container plants in Mexico and one in Bolivia.
Chip Dillon, an analyst at Vertical Research Partners, said the planned acquisition could be “a game changer” in terms of investors’ perception of potential growth at Owens-Illinois.
The company is the world’s largest maker of bottles for beer, wine and liquor, but sales have declined in recent years amid weakness in Europe and Australia and a partial retreat from China, where Owens-Illinois found local price competition too stiff.
PBR – Irish over-the-counter firm Perrigo has acquired the Mexican operations of US-based contract pharmaceutical services company Patheon for $34 million.
EFE – OHL Mexico has shifted into damage control mode following the resignation of an executive implicated in a scandal over illegal recordings that has led to a sharp drop in the price of the firm’s shares on the Mexico City Stock Exchange.
Reuters) – Spanish infrastructure group OHL posted an 18.7 percent drop in first-quarter net profit on Wednesday, hit by a lower contribution from its motorway business in Mexico where the firm is investigating allegations about overcharging the government.
Reuters – The Mexican retailers’ association said sales at stores open at least a year rose by 4.9 percent in April. The association, known as ANTAD, includes retail chains Walmex and Soriana as well as other department stores.
Sentido Comun – KIA Motors Mexico has formed an alliance with the French financial institution BNP Paribas Personal Finance, to create its financing arm in Mexico to offer him both wholesale and retail car loans.