Tag Archives: Mexico

Kraft Foods Changes Name

 

After 57 years with the name Kraft Foods, the food company changed its corporate structure and its name to Mondelez International and announced the start of operations in Mexico with his new name.

The new company reported in a statement that this change also affects more than 80 countries, with about 100,000 employees working in over 300 offices.

They explained that the change of name is derived from the division of the business into the grocery market in the United States, on October 1, and the other to the snack, so it takes Mondelez International brands like Trident, Tang, Oreo and Halls, among others.

The company president, Irene Rosenfeld, confided that the new company achieves sales 36.000 billion, as it has for generations brands worldwide.

In turn, President of Mondelez International in Mexico, Roberto Soto, mentions that the launch of the new company marks the beginning of a promising future, with a portfolio of products that have a high growth potential.

Since Kraft Foods Mexico, the company has maintained operations in which employs more than 8,000 people in its four manufacturing plants.

 

 

Scribe Will Invest $80 Million

 

MEXICO CITY – Scribe Group Papelero plans to invest $80 million over the next three years for the construction of five co-generators of electricity, said company CEO, Antonio Martinez Baez.

The manager explained that this project is part of its strategy to improve operations in the country and make them more sustainable, and a program to produce pulp using grass as a feedstock.

In this regard, Antonio Martinez said they expect this year to close its plant in Morelia already have the first electric cogenerator, then continue with the construction on site shoal and Orizaba.

The manager said that the company plans and make way for his project to produce cellulose, using grass as a feedstock.

Also, regarding the acquisition last year on a plant in Colombia Colpapel Kimberly said that this operation aims to increase its market share in Latin America.

In this regard, said they are constantly thinking of acquisitions, because the paper business is becoming more mature, and that with the participation they have in Mexico, 75% of the market, not allowed to record higher sales margins.

School season, sales support

The months leading up to the back to school is the season when sold 70% of notebooks sold during the year in the country, so the challenge is to maintain these levels and look for opportunity niches, explained the CEO of Scribe.

The presentation of the new advertising campaign the company said that the intention is to achieve steady growth throughout the year and 6% sales growth in 2012, with revenues of around 6.000 million pesos.

He also said the issue of school season and seasonality of sales forced the company to think of ways to expand their products and increase their participation in the stationery market.

Here, Martinez Baez said that Scribe is now almost 75% of notebook market in Mexico, with sales of around 250 million books a year.

He said that another of the challenges the company is to compete with the entry of paper and notebooks from other companies, because although “the importation of paper is similar to the domestic industry, try to find a balance with the price that a competitor may enter to Mexico, “he added.

According to school accessory manufacturer Ruz, over 30% of supplies for back to school to be gained this season will be from illegal sources, leading to significant losses of domestic producers.

 

 

KOF’s SharesTumble 8.21%

 

MEXICO CITY – Shares of Mexican Coca-Cola FEMSA (KOF), the largest bottler of the popular beverage brand in the world, plunged on Wednesday after shareholders sold part of the securities received as payment for Recent acquisitions of the company.

KOF papers lost 8.21% on the Mexican Stock Exchange to 163.22 pesos.

Operators mentioned earlier a cross of 2 million shares and 60,000 ADRs (American Depositary Receipts), which initially contributed to the decline, at a price of 167 pesos.

The director of investor relations KOF, Jose Castro, said some family members who received shares as payment for the franchises acquired, sold part of the securities in the market to capitalize on the recent rise of the station.

“This is good news for KOF, because now these actions are in the market, achieved a good base of investors,” Castro told Reuters by telephone.

KOF, a partnership between Mexico’s FEMSA and The Coca-Cola Co, materialized in the last 12 months the purchase of three bottling system in Mexico, through agreements with payment of shares.

KOF, which operates in territories of Mexico, Central America, Colombia, Venezuela, Brazil and Argentina, bought the local bottlers Queretano Group, CIMA and Tampico, which were held by private investors.

KOF’s shares earlier this month played a maximum of 192 pesos on the local stock market, which meant a profit of 47% from its close of 2011.

Earlier titles in New York fell 8.19% to 122.27 one dollars.

Inflation Soars to 4.34% in June

 

 

 

MEXICO CITY – The consumer price index rose 0.46% in Mexico in June, a level not seen since at least 2003, said Monday by the National Institute of Statistics and Geography.

With this, annual inflation stood at 4.34%, the highest value since December 2010, when prices climbed 4.4%.

Core inflation is considered a better parameter to measure price trends because it eliminates items of high volatility, which was 0.22% in June, the institute said.

The Bank of Mexico has an inflation target of 3% + / – one percentage point.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

China and Brazil Congratulated Peña Nieto

 

China on Monday expressed its full readiness to work with the new Government of Mexico and maintain a strategic partnership.

“China is willing to work with Mexico to continue to promote sustainable development, healthy and stable strategic partnership that will benefit both countries and their people,” said Foreign Ministry spokesman, Liu Weimin.

Lui said the Asian government sent a congratulatory message to Enrique Peña Nieto, president-elect.

“Chinese President Hu Jintao sent a congratulatory message to Peña Nieto to prevail in the presidential elections in Mexico,” the spokesman of the Chinese Ministry of Foreign Affairs said, according to the Xinhua news agency.

He said that the Asian giant has always attached great importance to developing friendly relations with Mexico, since the establishment of bilateral ties over four decades.

The Foreign Ministry spokesman said China is willing to continue working with the new Government of Mexico and keep its strategic partnership.

Peña Nieto invites Rousseff

Brazilian President Rousseff spoke by telephone with Peña Nieto to intensify bilateral relations from the installation of the new government.

The South American country’s president said the two talked for 10 minutes during the morning on Tuesday. Peña Nieto invited Rousseff to visit Brazil before his inauguration on December 1.

According to the Brazilian presidency, the PRI accepted the invitation and said he would visit the country before taking office as part of a tour made by several Latin American countries.

Mexican President Felipe Calderon has visited Brazil since Rousseff took office in January 2011, but had close relations with his predecessor, Luiz Inacio Lula da Silva. Brazil and Mexico are the two largest economies in Latin America.

According to the Brazilian presidency, Peña Nieto said in conversation that his victory was a demonstration of the maturity of the Mexican democratic process, to which Rousseff said it was an example for all Latin America.

Mining in Zacatecas Is Financially Productive

ZACATECAS – Given the high levels of metal prices, foreign mining in Zacatecas have found an ideal destination for investment in exploration and exploitation of deposits, said Miguel Alonso Reyes, governor of the state.

Among the companies that have reached the state are Oromex, First Majestic Silver Corp, Pan American Silver Corp., and even as Cymco Chinese firms, he said.

The president revealed that only in the work of holding companies will invest this year about 30 million dollars, not counting the resources disbursed Canada’s Goldcorp in the two new mines developed and Eve Red Road, and totaling approximately $200 million.

“Given the high level of metals prices, the state has received in recent years many companies,” he said.

Zacatecas is the largest producer of silver at the national level and about 23% of its gross domestic product (GDP) is linked to the mining industry. In addition, the entity is the second gold producer in the country after Sonora, and nationally, the state mining industry contributes 8% of Mexico’s GDP.

The attractiveness of the state mining has attracted interest from Chinese companies as Cymco, which assesses reserves of minerals like manganese to determine the investments made. “Zacatecas has abundant deposits of onyx, marble, cobalt, lithium and potassium as well,” said Eduardo Lopez meanwhile Muñoz, Secretary for Economic Development of the entity.

Potential

Only 30% of the territory of Zacatecas has been explored for mining projects, so their potential to develop this activity is still positive.

“We know that mining projects such as Goldcorp and other companies are 20 or 35 years, so it will continue exploration in various regions of the state,” said Miguel Alonso Reyes.

To date, around ten companies have operations in the state, and among them include Fresnillo, Grupo Mexico , Penoles and Goldcorp.

“In several municipalities of the state as Morelos, Peñasquito, Melchor Ocampo, the state capital, Cap and Veta Grande mining exploration continues,” the governor said.

According to the Mining Chamber of Mexico (Camimex), in 2012 investment in this industry exceeded the 3.500 million dollars and this year is expected to be at least maintained that level.


The Candy is Safe, Says Coca-Cola

MEXICO CITY – Coca-Cola Company said the candy used for your drinks is safe and approved by authorities in more than 200 countries, including Mexico.

The company reiterated that it is changing the formula of their products in California, United States or elsewhere.

This after Friday will report that Coca-Cola and PepsiCo are changing the way they make the caramel coloring as a result of a law in that state to require that beverages with a certain level of carcinogens carry a warning label.

“While we disagree with the position of California, the company asked the candy manufacturers to modify the production process of 4-MEI to meet local requirements, so that our products must bear a warning not scientifically unfounded. This change will affect neither the formula nor the great taste, and high product quality that consumers expect to receive from the company, “the company said in a statement.

Coca Cola said that the color of caramel employee is authorized even by the Agency for Food and Drug Administration (FDA) of USA and the European Food Safety Agency (EFSA).

He said that in early 2011 the European body reaffirmed the safety of the substance after a routine search of food coloring.

He stated that this review was based on risk assessments and scientific principles based on evidence, so he said, California’s position is not supported by science.

He added that no public health risk in California or elsewhere.

“Our commitment to the highest quality and safety of our brands remains our top priority, and will continue to rely on solid scientific evidence to ensure the safety of our products,” he said.

Earlier this week, the Center for Science in the Public Interest (CSPI, for its acronym in English), a U.S. regulatory group, said it had found “dangerous levels” of chemical cans of Coca-Cola, Pepsi- Cola, Dr Pepper (Dr Pepper Snapple Group Inc) and 365-Cola, Whole Foods Markets.

The U.S. FDA said that studies the request of the group, but stressed that the drinks are still safe.

A spokesman for the U.S. agency said a person would have to take “more than 1,000 cans of soda drinks per day to reach the dose administered in the studies that have demonstrated their link to cancer in rodents.”