Mexico
News

Cydsa sells off packaging plant

Bnamericas
Mexican industrial group Cydsa (BMV: CYDSASA), which offers wastewater and environmental management and services, has sold the assets and operations of packaging unit Película Impresa y Laminada, the company told Mexico City's bourse. The sale will represents 6% of consolidated corporate sales, 6.3% of its assets and 7.5% of bank debt. Blemis Flexible Packaging de México, a subsidiary of Minnesota-based Bemis Company, agreed to purchase the Cydsa unit. Cydsa signed a debt restructuring agreement in March for US$193mn, to be paid over seven years. During the first quarter of 2004, the company's domestic sales inched up 4% year-on-year to 1.22bn pesos and exports grew 17% to US$41mn. The sale is part of Cydsa's strategy to sell uncompetitive units or those that do not meet corporate strategies.

Subscribe to the leading business intelligence platform in Latin America with different tools for Providers, Contractors, Operators, Government, Legal, Financial and Insurance industries.

Subscribe to Latin America’s most trusted business intelligence platform.

Other projects in: Water & Waste (Mexico)

Get critical information about thousands of Water & Waste projects in Latin America: what stages they're in, capex, related companies, contacts and more.

Other companies in: Water & Waste (Mexico)

Get critical information about thousands of Water & Waste companies in Latin America: their projects, contacts, shareholders, related news and more.