Category Archives: Companies

Televisa to take legal action over letter alleging fraud

EFE – Mexico’s No. 1 television broadcaster, Grupo Televisa, said it would take legal action against those responsible for an anonymous letter that accuses senior company executives of diverting some $1 billion in cash payments for political infomercials into personal offshore accounts.

http://latino.foxnews.com/latino/news/2016/05/07/mexico-no-1-broadcaster-to-take-legal-action-over-letter-alleging-fraud/

Gilden buys U.S. firm’s Mexican apparel production

680 News – Canada’s Gildan Activewear is expanding its low-cost manufacturing presence by entering Mexico with the acquisition of the apparel division of Ennis Inc. for $110 million. The firm makes T-shirts and fleece products largely sold under the Alstyle brand to screenprinters and mass marketers in the U.S., Canada and Mexico.

http://www.680news.com/2016/05/04/gildan-entering-mexico-with-us110-million-purchase-of-alstyle-apparel/

Winners of Mexico blocks expect to drill initial wells within a year

Mexico's three licensing rounds so far all took place in 2015.
Mexico’s three licensing rounds so far all took place in 2015.

By Starr Spencer / Platts

The winners of acreage from the first three bidding rounds in Mexico last year are moving ahead on plans to develop oil from the country’s major energy reforms, with the first wells expected as early as fourth-quarter 2016, representatives of those companies said Tuesday.

Two of the operators, Talos Energy and Roma Energy Holdings, are US headquartered. The third, Mexico’s PetroBal, was formed last year by minerals magnate Alberto Bailleres, president of conglomerate Grupo Bal which owns the world’s largest silver producer.

PetroBal will drill its first well on its block, in Mexico’s Bay of Campeche, by year’s end with US partner Fieldwood Energy, Carlos Morales Gil, previously director general of E&P for Mexican state oil company Pemex, said at the Offshore Technology Conference.

After that, “we will analyze the well results, maybe drill a few more wells in 2017, and propose a development plan,” Gil said, adding first production will likely be in 2019.

Mexico’s three licensing rounds so far — actually, these were three phases of its Round One — all took place in 2015. A fourth phase featuring 10 deepwater blocks is planned for December. In addition, Roma Energy Holdings CEO Alexandro Rovirosa told Platts on the conference sidelines that it will drill its first well early next year on a block it won in a separate Mexico bidding last December.

http://www.platts.com/latest-news/oil/houston/winners-of-mexico-blocks-expect-to-drill-initial-26434026

Cemex sells some U.S. assets for $400 million

El Dario – Cemex reached an agreement for the sale of certain assets in the United States to Grupo Cementos de Chihuahua, for $400 million. The assets, which will be sold, consist mainly of cement plants in Odessa, Texas; Lyons, Colorado; and three cement terminals and business supplies in El Paso, Texas and Las Cruces, New Mexico.

http://diario.mx/Economia/2016-05-02_043187d0/cemex-vende-activos-en-eu-a-cementos-de-chihuahua/