DOCSLIB.ORG

Concentrating

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Concentrating Concentrating... 1999 annual report ... on the markets’ needs c o n t e n t s C o m p a n i e s 1 Financial Highlights 2 C h a i rm a n’s Letter 4 C E O ’s Letter 6 B o a rd of D i re c t o rs 8 Fl at Glass 1 0 Glass Containers 1 4 Household Pro d u c t s 1 8 D ive rse Industries 2 2 G l a s swa re 2 6 C o rp o rate Citize n s h i p 3 0 Te ch n o l ogy 3 2 C F O ’s Letter 3 4 S t o ck P e r fo rm a n c e 3 6 I n d ependent Au d i t o r ’s Rep o rt 3 7 C o n s o l i d ated Financial Stat e m e n t s 3 8 S h a reholder Info rm at i o n 6 3 perfil company corporativo profile Vitro, S.A. de C.V. (NYSE: VTO and BMV: VITROA), through its subsidiary companies, is a major participant in five distinct businesses: flat glass, glass containers, household products, glassware and diverse industries. Vitro’s subsidiaries serve multiple product markets, including construction and automotive glass, wine, liquor, cosmetics, pharmaceutical, food and beverage glass containers, household appliances, fiberglass, plastic and aluminum containers, and glassware for commercial, industrial and consumer uses. Founded in 1909, Monterrey, Mexico-based Vitro has joint ventures with 12 major world-class manufacturers, that provide its subsidiaries with access to international markets, distribution channels and state-of-the-art technology. Vitro’s subsidiaries do business throughout the Americas, with facilities and distribution centers in seven countries, and export products to more than 70 countries. v i t r o 1 9 9 9 companies flat glass glass containers household products Companies Companies Companies Vitro Plan + Pilkington, PLC (Great Britain) 1965 - 35% Empresas Comegua S.A. (Guatemala and Costa Rica) Vitromatic + Whirlpool Corporation (USA) 1987 - 49% Auto Cristales de Oriente + Cervecería Centroamericana, S.A. (Guatemala) & Sourdillon de México* + Sourdillon Auto Templex Cervecería de Costa Rica, S.A. (Costa Rica) International (France) 1995 - 66% Cristakar 1964 - 50.3% Crolls Mexicana Cristales Automotrices Metalúrgica Oriental Viplásticos Cristales Centroamericanos (Guatemala) Procesadora de Materias Primas Industrializables Industrias Acros Whirlpool Cristales Inastillables de México Vidriera Guadalajara Comercial Acros Whirlpool Distribuidora Nacional de Vidrio Vidriera Los Reyes Química "M" + Solutia Inc. (USA) 1995 - 49% Vidriera Mexicali Products Shatterproof de México Vidriera México Refrigerators, washers, ranges, molds, plastic components. Vidrio Plano Vidriera Monterrey Distributes clothes dryers, washers, dishwashers, Vidrio Plano de México Vidriera Querétaro refrigerators and mixers. Vidrios Templados Colombianos (Colombia) VidrieraToluca Vitro Colombia Vidrio Lux (Bolivia) Vitro Flex + Ford Motor Company (USA) Vitro Packaging, Inc. (USA) 1979 - 38% Vitro Flotado Products VVP America (USA) Glass containers Super Sky (USA) ACI Distribution (USA) Binswanger Glass (USA) Binswanger Mirror (USA) diverse industries glassware Glasscraft (USA) Companies Companies Ampolletas (Enbosa) + Kimble, Inc. (USA) 1978 - 49% Vitrocrisa Holding + Libbey Inc. (USA) 1997 - 49% Products Float, patterned and fabricated architectural glass, solar Envases de Borosilicato del Sur Vitrocrisa control glass, automotive glass, mirror glass, glass table Kimble-Enbosa* (USA) + Kimble, Inc. (USA) 1989 - 51% Crisa Libbey tops and polyvinyl butyral film. Envases Cuautitlán Fabricación de Cubiertos Fabricación de Máquinas Crisa Corporation (USA) Industria del Álcali Crisa Industrial (USA) Manufacturas, Ensamblajes y Fundiciones + General Electric Company (Mexico) 1997 - 49% Products Plásticos Bosco Glassware for the retail, foodservice and industrial markets Regioplast* + Owens Illinois, Inc. (USA) 1993 - 50% including drink-ware, bake-ware, dinnerware, stemware, Vitro OCF + Owens Corning (USA) 1957 - 40% ornamental, hand-made, candleholders, blender jars, coffee Vitro Fibras carafes, lighting products, stainless-steel and silver-plated Vitro-American National Can + American National Can flatware. Holding Corp. (USA) 1994 - 50% Vitro Chemical, Fibers and Mining (USA) * Not a consolidated company Products Fiberglass products, sodium carbonate, sodium The reference to the term "Joint Venture" in this Report does not imply or infer the definition of "Joint Venture" set forth in the bicarbonate, sodium chloride, calcium chloride, International Accounting Standards, it refers to those corporations ampoules, vials, laboratory glassware, plastic containers, in whichVitro owns at least 50 percent ofthe shares and one or aluminum cans, disposable plasticware, equipment, more third parties (either domestic or foreign) own the remaining shares of the corresponding corporation. We believe our usage of machinery, molds and components for the glass and the term "Joint Venture" is consistent with international business other industries. and legal practice standards. 11 financial highlights (In millions of constant pesos as of December 31, 1999, except where indicated otherwise; dollar figures are in millions of US dollars(1)). December 31, 1999 (Ps.) 1999 (US$) % change (2) 1998 % change (3) 1997 Income Statement(4) Consolidated net sales $ 25,879 US$ 2,627 (4.0) $ 26,958 1.5 $ 26,570 Export sales (millions of US dollars) 749 9.3 685 6.4 644 Operating income 3,871 390 (15.6) 4,588 0.9 4,548 Total financing cost 297 30 (89.8) 2,911 121.7 1,313 Other income (1,094) (113) (466.8) (193) 4 Share in net income of unconsolidated associated companies 21 2 320.0 5 (97.8) 227 Gain (loss) in value of shares in trust (1,070) 53 Income before income tax and PSW 2,501 249 496.9 419 (88.1) 3,519 Income tax and PSW 1,650 169 46.1 1,129 (15.2) 1,331 Net income (loss) from continuing operations 851 80 (710) 2,188 Income on disposal of discontinued operations 504 5 3 73.2 291 (72.9) 1,075 Extraordinary item 139 15 27.5 109 (65.5) 316 Net income (loss) for the year 1,494 148 (310) 3,631 Net income (loss) of the majority interest 644 62 (829) 2,941 Balance Sheet Current assets $ 7,272 US$ 766 (6.7) $ 7,793 1.1 $ 7,706 Total assets 31,283 3,294 (8.3) 34,114 (5.3) 36,024 Current liabilities 5,726 603 (12.9) 6,577 12.3 5,854 Total liabilities 20,051 2,111 (10.0) 22,275 3.8 21,450 Stockholders’ equity 11,232 1,183 (5.1) 11,839 (18.8) 14,574 Stockholders’ equity of majority interest 7,283 767 (6.9) 7,827 (24.3) 10,342 Capital expenditures 1,657 167 (34.8) 2,540 37.5 1,847 Personnel 32,535 (2.4) 33,320 0.6 33,136 Financial Indicators Operating income / sales (%) 14.96% 14.85% 17.01% 17.11% Sales / assets (times) 0.83 0.80 0.81* 0.74** Current assets / current liabilities (times) 1.27 1.27 1.20* 1.33** Total liabilities / stockholders’ equity (times) 1.79 1.79 1.85* 1.46** (1) Dollar figures reported herein are in nominal dollars resulting from dividing each month’s nominal pesos by that month’s ending exchange rate,except as indicated. (2) Change from 1998 to 1999. (3) Change from 1997 to 1998. (4) The amounts of Income Statement have been restated to present Anchor and Mining Operations as a discontinued operation. * Calculated using constant pesos as of December 31,1998. ** Calculated using constant pesos as of December 31,1997. v i t r o 1 9 9 9 financial highlights 33 chairman’s letter To Our Shareholders: In light of the general economic and competitive environment, 1999 was a positive year for Vitro. The path we have traveled over the last five years has had its up and downs. Like all major companies worldwide, Vitro is part of the global marketplace, and the domestic and international economic and financial climate resulted in some critical moments that have affected our performance. It is important to emphasize Vitro’s sound financial position. As of December 31, 1999, we reduced our debt to US$1.6 billion, after reaching US$2.4 billion in mid-1996. We recorded a net profit in 1999, after reporting losses in 1998. We consider our ability to maintain our cash flow (in dollars) at 1998 levels, despite an overvalued peso and greater competition in our traditional containers and flat glass businesses, a significant accomplishment. We are well positioned to meet the challenges Our strong 1999 results in household products and glassware show that we are well positioned to meet the challenges of a competitive business climate that requires high quality and productivity. The soft drink market is still important to the glass container business, but this is changing because soft drink producers now prefer bottles made of other materials. Today, glass soft-drink bottles do not capitalize on Vitro’s technological advantages, and do not generate the returns that the company has set as its short and medium-term goals. Special edition and commemorative bottles are better suited to Vitro’s competencies in this consumer market. I can say the same for the wine and liquor market, which has shown good performance and allows us to compete in important sectors. Under the circumstances, 1999 was a positive year for Vitro v i t r o 1 9 9 9 The Mexican flat glass market has also attracted competitors, business is dollar-based, the company has provided year-over-year particularly from South America’s weakest economies. Although financial data in both dollars and pesos. In this way, you can better this competition is aided in part by the peso’s temporary strength, evaluate the company’s achievements. It is important to note the our flat glass division has taken the necessary steps to reallocate Mexican government is expected to take the necessary steps to its production capacity and increase its efficiency.
Load more

Recommended publications
  • Our First Century 1909
    2009 Annual Report Our First Century Our First Century 1909 2009 Annual Report Vitro 2009 It all began 100 years ago… On December 6, 1909, a group of visionary businessmen created Vidriera Monterrey, laying the groundwork for the glass industry to become a reality in Mexico. This seed has grown today to become one of the leading glass manufacturing companies in the world. Vitro’s importance in the industry is no coincidence. Over the last century, the Company has faced innumerable challenges but has also had the foresight to capitalize on many impor- tant opportunities. In 2009 Vitro celebrated its First Century. Today we can proudly say that the Company’s corporate philosophy, ideology and the strong foundation of beliefs and values inherited from its founders and predecessors, combined with its employees commitment and dedication throughout their years, Vitro will not only succeed but will maintain and strengthen the confidence of customers, suppliers and community in the future ahead. Vitro is preparing to celebrate many more centuries as one of the world’s largest suppliers. 1 At Vitro, our Mission, Vision and Values are the foundations that give meaning to everything we do within the Company; they represent the key elements that encompasses the image projected to the world. 8 1 7 6 2 3 4 5 United States of America Bolivia 1 One of the leading processors and distributors of architectural glass; automotive 5 Producer and distributor of glass containers for the soft drink, beer, food, wine replacement glass, distribution and installation, and an important supplier of and liquor, and pharmaceutical industries.
    [Show full text]
  • Industria Del Álcali, S.A. De C.V. Welcome!
    Industria del Álcali, S.A. de C.V. Welcome! Industria del Alcali, S. A. de C. V. is a subsidiary of Vitro, SAB de C.V., a Mexican Corporation. Industria del Alcali opened its doors in 1942. Vitro’s History We are backed by over 100 years of experience... 1909 1909 1929 1935 1935 Vidriera Monterrey, the first Glass The first Flat Glass Factory is inaugurated, The Company starts exporting products Containers plant, starts operations in in Nuevo León. to other Latin American countries. Monterrey, Nuevo León. 1943 1942 1943 1968 1968 It is created what today is known as Fabricación de Máquinas, S.A., starts its The first line of float glass starts in Industria del Álcali to produce raw operations in order to develop in house Vidrio Plano de Mexico, S.A. materials. industrial technology. 1974 1974 1981 1985 Vitro is listed in the Mexican Stock Vidrio Plano, S.A. de C.v. installs a float Located in Texas Vitro Packaging is Exchange. glass plant in García, Nuevo León. born for the sale and distribution of glass containers in the U.S. 1991 1995 1996 MUVi - Glass Museum opened its doors to Vitro acquires Vidrio Lux, the largest glass Vitro Colombia is created to produces record, preserve and promote the container producer in Bolivia. and distributes automotive and history of glass. architectual glass. 2007 2008 2011 2011 Starts operations one of the world´s Vitro obtains for the first time the label: Vitro receives for the first time the largest glass containers plants towards Socially Responsible Company. Sustainable Business Seal by the meeting the requirements of the CFT Mexican Stock Exchange.
    [Show full text]
  • STRENGTHENING Our Core Base ANNUAL REPORT 2003
    VITRO 2003 ANNUAL REPORT STRENGTHENING our core base ANNUAL REPORT 2003 Av. Ricardo Margáin Zozaya 400 Col. Valle del Campestre, 66265 Garza García, Nuevo León, Mexico Tel. (52) 81 8863 1200 OUR Company at a GLANCE SHAREHOLDER information Vitro, S.A. de C.V. (NYSE: VTO; BMV: VITROA), Mexico through its subsidiary companies, is one of the United States Corporate Headquarters Independent Auditors world’s leading manufacturers and distributors of Born in 1909 as Vidriera Monterrey, Av. Ricardo Margáin Zozaya 400 Galaz, Yamazaki, Ruiz Urquiza, S.C. we’ve grown into one of the market Col. Valle del Campestre, 66265 A member firm of Deloitte Touche Tohmatsu Through our Vitro America and GLOSSARY glass products. The company focuses on three leaders; the Vitro brand is Av. Lázaro Cárdenas 2321 Pte., PB Vitro Packaging subsidiaries, we Garza García, Nuevo León, Mexico recognized among customers Residencial San Agustín, 66260 core businesses: flat glass, glass containers, are a major processor and Tel. (52) 81 8863 1200 nationwide for its high-quality of industry terms Garza García, Nuevo León, Mexico distributor of value-added flat- glass products, packaging and www.vitro.com and glassware. Within these businesses, Vitro’s Tel. (52) 81 8133 7300 glass products, and the U.S. support services. subsidiaries serve diverse product markets, leading supplier of specialty glass Category management is a dynamic consumer-oriented Financial Community Contact Fax (52) 81 8133 7342 and 83 Deyanira Méndez Meléndez packaging. www.deloitte.com/mx including construction and automotive glass; Packaging Revision Assistant, process between retailers and suppliers that groups Fabrice Serfati Fatu Ulale Vidriera Monterrey products with different brands into specific categories Corporate Finance Manager beverage, cosmetics, food, liquor, and wine glass Fabricator, in order to manage them as strategic business units Tel.
    [Show full text]
  • Partnering with World's Best
    Grupo Vitro 1998 Annual Report Vitro1998 Annual Report Partnering with World’s Best to export our experience to the Americas Globalization may be destiny for many companies… and even for Vitro. For now, Vitro’s world is the Americas. Here we will extend the impact of our many present and future world-class Joint Ventures. 1 CompanyVitro, S.A. de C.V. (NYSE:VTO Profile and BMV:Vitro), produces glass containers, flat glass, automotive glass, glassware, plastic containers, aluminum cans and household appliances. Vitro supplies numerous industries, including food and beverage, construction and automotive. Based in Monterrey, México, and founded in 1909, Vitro has strategic alliances with fifteen international corporations around the world. Vitro operates more than 100 facilities in eight countries, including México and the United States, and exports products to more than 70 countries worldwide. Table of Contents 1 Partnering with world’s best To export our experience to the Americas. 2 Financial Highlights 4 Letter from the Chairman Successful partnering and increase in exports helped us greatly in 1998. 6 Letter from the President and CEO A “new” Vitro thanks to the restructuring completed in 1997. 8 Partnering Essay We believe we now have more successful Joint Ventures than any other company in Latin America. 9 Export Essay Export: Key to Vitro’s Future. 10 1998 Operations Summary Flat Glass Containers Household Products Diverse Industries Glassware 20 Officers 21 Corporate Citizenship Our care and commitment for the environment is demonstrated everyday with concrete actions. 22 Board of Directors 24 Letter from the Chief Financial Officer In 1998 we again delivered on our promises.
    [Show full text]
  • Group BMV Annual Report 2006
    Group BMV Annual Report 2006 14 Mission and Vision 80 Mission and Vision 106 Mission 15 Message from the Chief Executive Officer 81 Message from the Chief Executive Officer 107 Message from the Chief Executive Officer 18 Board of Directors 84 Board of Directors 110 Board of Directors 19 Comittees 85 Comittees 111 Comittees 20 The Securities Market in 2005 86 Primary Activities in 2006 113 Data Highlights 28 Primary Activities in 2006 89 Vision for 2007 114 Primary Activities in 2006 45 Vision for 2007 90 Financial Information 119 Vision for 2007 46 Shareholders and Members 91 Shareholders 120 Financial Information 47 Corporate Officers 93 Corporate Officers 121 Shareholders 48 Facts & Figures 94 S.D. Indeval Facts & Figures 122 Corporate Officers Bolsa Mexicana de Valores S.D. Indeval CCV 126 Mission and Vision 129 Mission and Vision 149 Mission 127 Message from the Chief Executive Officer 130 Message from the Chairman of the 150 Message from the Chief Executive Officer 130 Board of Directors Technical Commitee 151 Board of Directors 131 Comittees 131 Message from the Chief Executive Officer 152 Comittees 132 Primary Activities in 2006 132 Technical Commitee 153 Primary Activities in 2006 135 Market Facts and Figures 133 Subcomittees 154 Vision for 2007 145 Vision for 2007 134 Principales Actividades del 2006 155 Shareholders 146 Shareholders 144 Vision for 2007 156 Corporate Officers 148 MexDer Participants 145 Trustors 150 Corporate Officers 146 Corporate Officers MexDer Asigna Sif Icap 159 Misión y Visión 160 Mensaje del Director General 161 Consejo de Administración 161 Comités 162 Principales Actividades del 2006 168 Visión 2007 169 Accionistas 170 Cuerpo Directivo Index Valmer Companies of Grupo Bolsa Mexicana de Valores Securities Market Bolsa Mexicana de Valores, S.A.
    [Show full text]
  • Bolivia August 15, 2014
    REPORT NO. 72/14 CASE 12.655 MERITS I.V. BOLIVIA AUGUST 15, 2014 I. SUMMARY......................................................................................................................................................................2 II. PROCESSING SUBSEQUENT TO ADMISSIBILITY REPORT ............................................................................ 3 III. POSITIONS OF THE PARTIES .................................................................................................................................. 4 A. The Petitioner .............................................................................................................................................................4 B. Position of the State .................................................................................................................................................. 8 IV. PROVEN FACTS ........................................................................................................................................................ 11 1. The surgical tube ligation procedure performed on I.V. ......................................................................................11 2. Bolivian regulations regarding informed choice and consent ...........................................................................12 3. Physical effects of the surgical procedure on I.V. ....................................................................................................13 4. Medical audits and administrative proceedings with respect
    [Show full text]
  • Bolivia Case Study Electronic Journal of Biotechnology, Vol
    Electronic Journal of Biotechnology E-ISSN: 0717-3458 [email protected] Pontificia Universidad Católica de Valparaíso Chile Avila, Teresa; Izquierdo, Juan Management of the appropriate agricultural biotechnology for small producers: Bolivia case study Electronic Journal of Biotechnology, vol. 9, núm. 1, enero, 2006, pp. 1-7 Pontificia Universidad Católica de Valparaíso Valparaíso, Chile Available in: http://www.redalyc.org/articulo.oa?id=173314716002 How to cite Complete issue Scientific Information System More information about this article Network of Scientific Journals from Latin America, the Caribbean, Spain and Portugal Journal's homepage in redalyc.org Non-profit academic project, developed under the open access initiative Electronic Journal of Biotechnology ISSN: 0717-3458 Vol.9 No.1, Issue of January 15, 2006 © 2006 by Pontificia Universidad Católica de Valparaíso -- Chile Received July 7, 2004 / Accepted July 19, 2005 DOI: 10.2225/vol9-issue1-fulltext-4 BIOTECHNOLOGY ISSUES FOR DEVELOPING COUNTRIES Management of the appropriate agricultural biotechnology for small producers: Bolivia case study Teresa Avila* Pairumani’s Phytoecogenetics Research Center P.O. Box 128 Cochabamba, Bolivia Tel: 591 4 4260083 Fax: 591 4 4263329 E-mail: [email protected] Juan Izquierdo Senior Plant Production Officer REDBIO/FAO Network Technical Secretary FAO Regional Office for Latin America and the Caribbean P.O. Box 10095, Santiago, Chile Tel: 56 2 3372100 E-mail: [email protected] http://www.redbio.org Keywords: Andean crops, appropriate biotechnology,
    [Show full text]
  • Numeric Listing
    Claims Register as of 5/4/2012 Claim Number DateFiled Name CreditorNoticeName Address1 Address2 Address3 City State Zip Country ClaimAmount Current Amount Nature DebtorName C U D ClaimType ClaimState 1 04/13/2011 Universal Transport Kenneth L Foster 25 Orange St Susanville CA 96130-4650 $1,715.08 $1,715.08 General Unsecured Vitro America, LLC Trade Claim POC 2 04/13/2011 Ernies Tire Service 7031 Whittier Ave Whittier CA 90602 $17,389.00 $17,389.00 General Unsecured Vitro America, LLC Trade Claim POC 3 11/24/2010 Grayson County Laurie Spindler Huffman Linebarger Goggan Blair & Sampson LLP 2323 Bryan St Ste 1600 Dallax TX 75201 $5,292.91 $5,292.91 Secured Vitro America, LLC Tax Claim POC 4 11/29/2010 Con Way Freight Inc c o RMS Bankruptcy Recovery Services PO Box 5126 Timonium MD 21094 $1,326.70 $1,326.70 General Unsecured Vitro America, LLC Trade Claim POC 5 12/15/2010 Carrollton-Farmers Branch Independent School Districtc o Andrea Sheehan Law Offices of Robert E Luna PC 4411 N Central Expressway Dallas TX 75205 $392.76 $392.76 Secured Vitro America, LLC Tax Claim POC 6 12/15/2010 Carrollton-Farmers Branch Independent School Districtc o Andrea Sheehan Law Offices of Robert E Luna PC 4411 N Central Expressway Dallas TX 75205 $25,339.36 $25,339.36 Secured Vitro America, LLC Tax Claim POC 7 01/12/2011 Kelly Services Inc 999 W Big Beaver Rd Troy MI 48084 $449.82 $449.82 General Unsecured Vitro America, LLC Trade Claim POC 8 03/15/2011 McGraw Hill Construction Credit Collection Dept 148 Princeton Hightstown Rd Hightstown NJ 08520 $18,016.12
    [Show full text]
  • Te P Ii L ¡Review
    TE P II L ¡REVIEW, NUMBER 65 AUGUST 1 998 SANTIAGO, CHILE OSCAR ALTIMIR Director of the Review EUGENIO LAHERA Technical Secretary CEPAL REVIEW 65 CONTENTS Income distribution, poverty and social expenditure In Latin America 7 José Antonio Ocampo Military expenditure and development In Latin America 15 Eugenio Lahera and Marcelo Ortúzar Growth, distributive justice and social policy 31 Andrés Solimano Equity, foreign investment and international competitiveness 45 Adolfo Figueroa Tensions in Latin American structural adjustment: allocation versus distribution 59 Daniel M. Schydlowsky Competitiveness and labour regulations 71 Luis Beccaria and Pedro Galin Latin American families: convergences and divergences in models and policies 85 Irma Amagada Free trade agreements and female labour: the Chilean situation 103 Alicia Frohmann and Pilar Romaguera Macroeconomic trends in Paraguay from 1989 to 1997: consumption bubble and financial crisis 119 Stéphane Straub The strategies pursued by Mexican firms in their efforts to become global players 133 Alejandra Salas-Porras Regulating the private provision of drinking water and sanitation services 155 Terence R. Lee and Andrei S. Jouravlev Quality management promotion to improve competitiveness 169 Hessel Schuurman Recent ECLAC publications AUGUST 1998 CEPAL REVIEW 65 133 The strategies pursued by Mexican firms in their efforts to become global players Alejandra Salas-Porras Faculty of Political Almost 60% of the biggest non-financial groups in Mexico and Social Sciences, carry on at least two types of activities in transnational mar­ National Autonomous kets. This article describes and analyses the various interna­ University of Mexico. tionalization paths and strategies of Mexican finns. This drive for internationalization is taking place against the background of an open export-oriented economy and grow­ ing integration with the United States and Canada.
    [Show full text]
  • Vitro-Annual-Report-2017.Pdf
    Integration for Excellence 2017 Annual Report CONTENT 6 Global Presence 8 Financial Highlights 12 Message from the Chairman of the Board of Directors 20 Message from the CEO 30 Board of Directors 36 Flat Glass 52 Glass Containers 66 Sustainable Development 80 Financial and Operational Analysis 94 Management’s Financial Responsibility 96 Consolidated Financial Statements VITRO 2017 Annual Report Moreover, it manufactures molds, machinery and VISION Our Company equipment, and provides engineering, automation, and special services. In addition, the Company holds To improve our leadership in the business segments a 49.7 percent stake in Empresas Comegua, S.A. in we operate and to be recognized as a leading innova- Vitro, The Glass Company, is one of the leading glass Central America tion company in the industry. manufacturing companies in the world, whose indus- try-transcending experience and commitment As a Socially Responsible Company, Vitro assumes its VALUES throughout its 100-year history back the quality of its social commitment through Responsible Corporate products and services. Management, and works on diverse initiatives under • Innovation: Enhance processes and operations the Vitro Sustainability Model framework to exert a with innovative ideas to consistently improve our Founded in 1909 in Monterrey, Mexico, the Company positive influence, and contribute to economic, social results. owns over 20 subsidiaries in the Americas and Europe and environmental development in benefit of its that offer quality products and reliable services, meet- stakeholders and the environment. • Team Work: Unite our talents to work as a single ing the needs of two business sectors: flat glass and force. glass containers.
    [Show full text]
  • Artavia Murillo Et Al. (“In Vitro Fertilization”) V. Costa Rica
    PETERSON_ARTAVIA MURILLO ET AL V. COSTA RICA (DO NOT DELETE) 5/11/2016 5:16 PM Artavia Murillo et al. (“In Vitro Fertilization”) v. Costa Rica 1 ABSTRACT This case is about a ban on In-Vitro Fertilization treatment in Costa Ri- ca. The ban, motivated by an understanding that human embryos are life and therefore must be protected under the American Convention and Costa Rica’s laws, was challenged by several couples who suffered from infertility problems. The Court, focusing on the rights of infertile couples, found violation of their rights to physical, mental, and moral integrity, and personal liberty, freedom from interference with private life and family, and the right to raise a family. The Court also deter- mined that the right to life begins at conception, and conception occurs when the embryo is implanted in the uterus, not when the egg has been fertilized in vitro. I. FACTS A. Chronology of Events February 3, 1995: The Ministry of Health issues Executive Decree No. 24029-S, which authorizes and regulates in vitro fertilization (“IVF”) in Costa Rica for married couples.2 IVF entails a complex series of proce- dures used to treat fertility or genetic problems and assist with the con- ception of a child.3 During IVF, mature eggs are collected from the ova- ries and fertilized by sperm in a lab, in a vial (in vitro).4 Then, the fertilized eggs are implanted in the uterus.5 April 7, 1995: Mr. Hermes Navarro del Valle challenges the constitu- 1. Christopher Peterson, Author; Nathaniel Reinhardt, Editor; Kathrynn Benson, Chief IACHR Editor; Cesare Romano, Faculty Advisor.
    [Show full text]
  • A Vision T O Our Future
    A VISION TO OUR FUTURE ANNUAL REPORT 2019 55 Vitro Automotriz Contents 56 Estrategias para capitalizar oportunidades 56 Calidad y servicio, binomio de confianza 57 Vision for a sustainable future 59 Industria del Álcali 2019 REPORT ANNUAL 3 Our History 59 Strategic actions 5 Our Company 60 Vision for a sustainable future 6 Vitro Brands 61 2019 Results 7 Global Presence 61 2020 outlook: a vision for the future 9 Letter to our Stakeholders 62 Containers 18 2019 Data Highlights: 63 2019 overview 20 Corporate Governance 63 Operating flexibility and proactivity: tools 21 Governance Structure and Committees totranscend 23 Vitro Sustainability 64 Solid strategies 27 Our Ethics 68 Machine Manufacturing 31 Our Employees 68 Solid strategies 38 Environment 68 Exacting standards and operating efficiency, to be the 42 Our Community 69 best option. 48 Our business 2019 Results 49 Flat Glass 69 2020 outlook: a vision for the future 50 Business Overview 70 Vision for a sustainable future 51 Architectural Glass 71 Financial and operating analysis 52 Amid adversity, strategic solutions 78 Membership in organizations and associations 53 Vision for a sustainable future 79 GRI Index 89 Carta de verificación 90 Estados Financieros Consolidados 2 Our History The company 2019. REPORT ANNUAL Pittsburgh Plate PPG becomes Glass (PPG) one of the first companies to PPG creates Solex, PPG becomes the first opened the first glass successfully mass-produce glass the first tinted, heat-absorbing glass producer in the US to use factory in the United States. with a patented process. environmental glass. the float glass process. 1934 1963 1883 1920 1909 1968 1960 1929 Vidriera Monterrey Vitro opens Vitro begins The first the first glass container its first flat glass plant making automotive glass.
    [Show full text]