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A Vision T O Our Future

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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. float glass plant, starts up operations in in Nuevo León. line starts up Monterrey, Nuevo León. operation in Mexico. 3 Our History Vitro celebrated 110 years of being a leader in 2019 REPORT ANNUAL the glass industry by providing Vitro, S.A.B. de C.V. cutting-edge products and process, The Glass Museum acquires PPG Flat Glass, retaining the always striving for sustainable opens its doors, with the aim One of the largest glass products, plants, people and proven development, and caring about its of recording, preserving and container plants in the world begins processes that made the company an employees and the communities in promoting the history of glass. serving the needs of the CFT market industry leader. which it operates. 1991 2007 2016 1996 2017 2008 Vitro Colombia Vitro obtains Vitro completes is created to produce and distribute “Socially Responsible the purchase of Pittsburgh Glass Works automotive and architectural glass. Company” distinction for from LKQ Corporation, strengthening the first time. the company’s automotive glass portfolio with cuttingedge technology and an automotive float glass plant in Meadville, Pennsylvania. 4 Our Mission Our Vision We redefine the power of cooperation to gen- Together we will explore the full potential of erate value and bring innovative glass solutions glass to improve how we move, build and live in Our to our clients and communities. the future. COMPANY Our values 2019. REPORT ANNUAL GRI: 102-1, 102-3, 102-5, 102-11, 102-16. Focus on the customer Our people Our customers are at the heart of everything Bringing together our talent to grow and work Vitro is one of the leading glass manufacturers in Our more than 110-year history is the bedrock on we do. together as a single entity. North America and one of the largest in the world, which Vitro and those who trust us have together backed by more than 110 years of experience in the built a solid, enterprising company, committed to its Operating excellence Integrity industry. Founded in 1909 in Monterrey, Mexico, mission of creating value and developing innovative Always going beyond what is expected of us, Always acting with honesty and in keeping with the Company has subsidiaries around the world glass solutions that meet the needs of clients and with greater efficiency, confidence and quality. our principles. that offer quality products and reliable services to the community. meet the needs of two businesses: glass contain- Innovation Sustainability ers and flat glass. Vitro’s companies make, process, We are progressing along the path to sustainability, Bringing new ideas to processes and opera- Creating the conditions to operate and grow in distribute and sell a wide range of glass articles that with a clear vision of the future: to explore the full tions to continuously improve our results harmony with our environment and communities are part of the daily life of millions of people. Vitro potential of glass to improve the world around us. brings solutions to numerous markets--cosmetics, where we serve fragrances and pharmaceuticals, automotive and architecture. It also supplies chemical products, raw materials, and machinery and equipment for in- dustrial use. As a socially responsible company, Vi- tro pursues various initiatives within the framework of its sustainability model, in order to positively in- fluence economic social and environmental aspects relating to its stakeholders, through responsible corporate management. Our business philosophy is grounded in our values and in the commitment for which we are known, as we work for the well-being of all our stakeholders and the environment in which society evolves. employees 5 SolarbanTM SolarcoolTM Solargray Tintex Plus TM SolarbanTM 60 SolarcoolTM Solarbronze Solarblue TM TM TM Solarban 67 TM Vitrosol TM Vistacool TM Solarban 70 XL TM Optigray TM Vistacool Pacifica TM Solarban 72 TM Azuria Vistacool Azuria Vitro SolarbanTM 90 PacificaTM OptiblueTM SolarbanTM R100 CLARO PlatiaTM TM TM TM Reflectasol Solarban z50 TM Klare TM Solarban z75 Aquity TM Blindex TM TM Pyrosol SolarbanTM Starphire TM 2019 REPORT ANNUAL TM Pavia TM Filtrasol brands Solarban Pacifica TM TM Kolore SolarbanTM Solarblue Filtraplus TM SolarbanTM Azuria Tintex Diverse industries 6 Global Canada Presence 2019 REPORT ANNUAL GRI: 102-4, 102-6 Puerto Rico OUR MAIN COMPANIES United States Cuba VITRO, S.A.B. DE C.V. • PGW Holdings, LLC (2) Mexico Honduras • Pittsburg Glass Works, LLC (2) Glass containers • Pittsburgh Glass Works GmbH (4) Costa Rica • Vitro Packaging, LLC (2) • PGW Technik GmbH (3) Guatemala • Servicios Integrales de • Pittsburgh Glass Works Acabados Hong Kong Limited (5) Panamá • Pittsburgh Glass Works, El Salvador Machinery and Molds Sp.z o.o. (6) Colombia • Machinery Manufacturing • Pittsburgh Glass Works, S.à.r.l (7) Nicaragua • Shandong PGW Jinjing Automotive Glass Co. (8) Brazil Ecuador Architectural Sector • Vitro Automotriz • Vitro Flat Glass, LLC (2) • Vitrocar Venezuela • Vitro Flat Glass, Inc. (3) • Cristales Automotrices Bolivia • Viméxico • VVP Autoglass • Vidrio Plano de Mexicali • Vitro Colombia (1) Peru • Vidrio Plano de México • Vitro Do Brasil Industria E Comercio Argentina • Vidrio Plano de México LAN • Laminated and Tempered Crystal (1) Company with operations in Colombia • Vitro Flotado Cubiertas (2) Company with operations in U.S. • Productos de Valor Chemicals and Raw Materials (3) Company with operations in Canada Chile Agregado en Cristal • Distribuidora Álcali (4) Company with operations in Germany • Industria del Álcali (5) Company with operations in Hong Kong Automotive Sector • Comercializadora Álcali (6) Company with operations in Poland • Vitro Automotive Glass, LLC (2) antes Vitro Flat • Vitro Chemicals (2) (7) Company with operations in Luxembourg Glass Holdings (8) Company with operations in China 7 Austria Hungary Slovakia Sweden ANNUAL REPORT 2019 REPORT ANNUAL United Kingdom Switzerland Japan Germany South Korea Taiwan France China Spain Hong Kong Portugal India Singapore Italy Malaysia Belgium Lebanon Australia Poland Turkey Israel Our Plants Mexico Poland Ecuador Qatar United States Canada Costa Rica Saudi Arabia Germany Colombia Peru China Brazil Luxembourg United Arab Emirates 8 Letter to our Stakeholders 2019 REPORT ANNUAL GRI: 102-10, 102-14, 102-15, 102-46, DEAR STAKEHOLDERS: progress, and also stopped issuing new construction supplies glass containers. In addition, a rise in energy permits, causing a contraction in the industry. In the prices in Mexico had an impact on the financial results. Last year was a challenging one for Vitro. Market vol- United States, construction began to show signs of Despite market weakness, we are convinced that this atility and uncertainty over geopolitical events in the weakness in the first half of the year, causing excess will be temporary, and our main markets will return countries where we operate weighed heavily on de- capacity and a glut of products on the market, a price to a clear path of growth. In anticipation of this, Vitro cisions by investors and consumers, causing a slow- war among competitors and the resulting margin continues to invest in technology to modernize facili- down in the activity of the main industries we serve. shrinkage. ties in order to offer added value products and be more These and other factors influenced the company’s re- competitive in the industries where we participate. sults for the year and affected the goals we had set for The automotive industry has also declined across this period. the world, primarily because of economic slowdown, trade hostility between competitors who vie for vol- Nevertheless, the company’s financial position remains ume in a climate of excess capacity, in addition to the stable. Vitro has seen ups and downs throughout its market trend toward electric cars. In Mexico, the auto history, but its determination and the commitment of industry declined noticeably, as did exports of Mex- its people, as well as the well-aimed decisions of its ican cars to the United States. This situation in the management, have enabled it since 1909 to become market has worsened in recent years. what it is today: a solid, sustainable company. The economic situation has affected the domestic Market conditions perfume, cosmetics and pharmaceutical industries.
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