WSJ – Mexican beverage and retail company Fomento Económico Mexicano , known as Femsa, plans to invest $1.35 billion in its businesses this year. The company expects to spend $850 million on its beverage operations, with the rest going toward logistics, refrigeration and Femsa’s retail business.
Reuters – Mexican construction company ICA reported a fourth-quarter loss after reporting a profit in the same period last year. The company reported a loss of 2.082 billion pesos ($141 million), compared to a profit of 520 million pesos in the year-earlier period.
Reuters – Mexico broadcaster Televisa reported a 1.6 percent increase in its fourth-quarter profit. The company reported a profit of 2.504 billion pesos ($169.79 million), up from 2.464 billion pesos in the year-earlier quarter.
Bloomberg -Mexico’s top three billionaires — Carlos Slim, Alberto Bailleres, and German Larrea — dominate the country’s telecommunications, mining and retail industries. Next up on their priority list: oil.
Sentido Comun – Fomento Economico Mexicano, or Femsa, the main producer of soft drinks and a major retail chain in Mexico, announced that it will enter directly and aggressively in the business of selling gasoline now that it has no legal impediment to doing so.
Sentido Comun – CMR started operations at its fourth unit of the brand Red Lobster in Mexico and the second within the metropolitan area of Mexico City. The new restaurant is located in the Bullfighting Central Park mall.
Reuters – Mexican bottling and retail company Femsa reported a 45 percent rise in its fourth-quarter profit, mostly due to higher gains from its stake in brewer Heineken.
Reuters – Mexican chemicals and plastic-pipe maker Mexichem reported a $37.11 million fourth-quarter loss. In the same quarter last year, Mexichem reported a loss of $8.92 million.
Sentido Comun – Spanish infrastructure constructions company Ferrovial is said to be interested in participating in the tender to build the new international airport in Mexico City.
Sentido Comun – Supermarket chain Organización Soriana suffered a deterioration in its credit rating by the rating agency HR Ratings by extension to the time it will take the company to pay its current debts.
Sentido Comun- Controller Vuela Compañía de Aviación, or Volaris, said yesterday that it rejects the claims made in a lawsuit and will “exert a vigorous defense against” it.
Reuters – A U.S. pension fund has sued Volaris to recover losses that it said were caused by false statements in the Mexican airline’s initial public offering filings.
Reuters – Coca-Cola Femsa, the biggest Coke bottler in Latin America, reported a 0.3 percent increase in fourth-quarter earnings, hurt by muted sales and currency weakness in Venezuela and Mexico.
Nasdaq – The proposed sale of Nextel Mexico to AT&T Inc. for nearly $1.9 billion has cleared a milestone, though competing bidders still have a month to up the ante on the deal.
Sentido Comun – Fibra Uno announced that it agreed to spend $185 million to develop a mixed-use project in the City of Mexico. The company did not elaborate on the type of property.
Sentido Comun – Grupo Herdez has opened a new $21.3 million plant in Los Mochis, Sinaloa, with a capacity to process 75,000 tons of vegetables, expanding operations by 30 percent.
Milenio – Grupo Elektra announced that during the fourth quarter of 2014 operating cash flow (EBITDA) for 2000 was 298 million pesos, an increase of 7 percent, while its consolidated revenues grew 9 percent, this compared to the same but 2013 period.
El Economista – Shares of Alfa Group and its petrochemical subsidiary Alpek rose sharply in the day on Tuesday in the Mexican Stock Exchange (BMV); Alpek led gains in the stock market.
Reuters – Mexico has reached deals totaling around $300 million with toymaker Hasbro Inc. and household product maker Procter & Gamble Co. following a probe into possible tax avoidance.
Reuters – Mexican industrial conglomerate Alfa said it sees a 3 percent fall in revenues this year and a 3 percent rise in EBITDA from 2014. The company said it plans to invest $1.28 billion this year, less than in the prior period.