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Topic: Grupo Mexico

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	Boston.com / Business / Firm asks Mexico to oppose copper strike (Site not responding. Last check: 2007-10-16)
		Grupo Mexico said in a news release Monday that the National Mining, Metallurgical and Similar Workers Union was demanding 15 percent wage increases, but refused to negotiate the collective contract renewal until the 5 percent equity issue was resolved.
		Grupo Mexico said it has been in talks with the union leadership seeking to resolve conclusively "that old claim of the so-called 5 percent." Courts have ruled previously that the company isn't obliged to make the payment.
		Grupo Mexico called on the union to return to the negotiating table to seek a wage settlement in line with the rest of the industry.
	www.boston.com /business/articles/2004/10/18/firm_asks_mexico_to_oppose_copper_strike (450 words)

	SignOnSanDiego.com > News > Business -- Grupo Mexico shares soar on merger news
		MEXICO CITY – Shares of Grupo Mexico, the world's third-largest copper producer, soared Friday on news it will move one of its mining units to subsidiary Southern Peru Copper as part of a plan to access more foreign investors.
		Grupo Mexico said late on Thursday it was selling one of its mining units to Southern Peru Copper Corp. (SPCC), which would make the Peruvian company the world's number two copper miner.
		Grupo Mexico has announced it is trying to merge with Southern Peru, which would give it an indirect listing on the New York stock exchange under the SPCC ticker, improve its financial stability and broaden Southern Peru's production profile.
	www.signonsandiego.com /news/business/20041022-0713-minerals-mexico-gmexico.html (269 words)

	Mexico on Encyclopedia.com (Site not responding. Last check: 2007-10-16)
		It borders on the United States in the north, on the Gulf of Mexico (including its arm, the Bay of Campeche) and the Caribbean Sea in the east, on Belize and Guatemala in the southeast, and on the Pacific Ocean in the south and west.
		Mexico is divided into 31 states and the Federal District, which includes most of the country's capital and largest city, Mexico City.
		The grass widows of Mexico: migration and union dissolution in a binational context *.
	www.encyclopedia.com /html/M/Mexico.asp (636 words)

	WallStreetReporter.com (Site not responding. Last check: 2007-10-16)
		Grupo Mexico S.A. de C.V. The operating companies that comprise Grupo México S.A. de C.V. and subsidiaries (collectivelly, the "Company") are in the metallurgical mining and freight railway services industries.
		Minera Mexico, together with ASARCO and SPCC, which is a Peruvian mining concern, Grupo produces around 950,000 tons of copper, about 100,000 tons of refined zinc, 25 million ounces of silver, apart from some amounts of gold, molybdenum and other by-products.
		Grupo Mexico, the company as a whole, had consolidated financial results in 2003 with revenue of $2.5 billion; divided between the mining division (77%) and the railroad division.
	www.wallstreetreporter.com /linked/GrupoMexico.html (1726 words)

	Grupo Mexico to Invest $450 Million to Boost Copper Output
		Grupo Mexico's planned expansion, which still requires board approval, is a bet on higher copper prices and continued demand from China and the U.S. that helped boost prices to 15-year highs, said Marc Bonter, a precious metals analyst with the London-based consulting firm CRU International.
		Gonzalez, the former CFO of Grupo Mexico, was appointed a director of Southern Peru on March 11 as part of a reorganization of the company.
		Grupo Mexico cut production costs to about 30 cents a pound this year from more than 50 cents a pound in 2001, when copper prices plummeted to a 14-year low of about 60 cents per pound.
	www.banderasnews.com /0503/nz-copperoutput.htm (1023 words)

	SignOnSanDiego.com > News > Mexico -- Workers end strike at Grupo Mexico's Cananea mine
		MEXICO CITY – Workers at Grupo Mexico's Cananea copper mine in northwestern Mexico returned to work Thursday after the company agreed to pay production bonuses, the union said.
		Grupo Mexico, the world's third-largest copper producer with operations in Mexico, the United States and Peru, had threatened to close down the 150,000-ton-a-year copper mining complex if agreement wasn't reached.
		The union said Grupo Mexico agreed to pay a 26.5 percent bonus for average daily output of 130,000 tons of ore mined over a one-month period, and 32.58 percent if average daily output reaches 160,000 tons.
	www.signonsandiego.com /news/mexico/20030206-0923-mexico-minersstrike.html (436 words)

	Grupo Imsa to exit automotive battery business
		Grupo Imsa, a holding company, dates back to 1936 and is today one of Mexico's leading diversified industrial companies, operating in four businesses: steel processed products; automotive batteries and related products; steel and plastic construction products; and aluminum and other related products.
		Grupo Imsa operates manufacturing and distribution facilities in Mexico, the United States, Europe and throughout Central and South America.
		Grupo Imsa shares trade on the Mexican Stock Exchange (IMSA) and, in the United States, on the NYSE (IMY).
	www.globalmanufacture.net /home/news/imsainfo.cfm (413 words)

	Asarco files for bankruptcy protection - Boston.com (Site not responding. Last check: 2007-10-16)
		MEXICO CITY (Reuters) - U.S copper miner Asarco has filed for bankruptcy protection in a U.S. court, hit by steep environmental clean-up costs and a five-weeklong strike at its operations in Arizona and Texas.
		Grupo Mexico slammed the Asarco union, whose members were not reachable for comment, and said it was partly to blame for the situation.
		Grupo Mexico's shares jumped 5.37 percent to 20.20 pesos on Mexico's stock market.
	www.boston.com /news/world/latinamerica/articles/2005/08/10/miner_asarco_seeks_bankruptcy_protection (574 words)

	El Universal Online
		Grupo Mexico's planned expansion, which still requires board approval, is a bet on higher copper prices and continued demand from China and the U.S. that helped boost prices to 15year highs, said Marc Bonter, a precious metals analyst with the London-based consulting firm CRU International.
		González, the former CFO of Grupo Mexico, was appointed a director of Southern Peru on March 11 as part of a reorganization of the company.
		Grupo Mexico forecasts copper production from its Southern Peru and Minera Mexico units will fall to 705,000 metric tons this year from 718,000 metric tons in 2004.
	www.eluniversal.com.mx /pls/impreso/noticia.html?id_nota=9931&tabla=miami (924 words)

	Tucson Weekly Print Friendly
		Grupo Mexico attributes this windfall to a price increase brought on by a weaker U.S. dollar, lagging copper production during the lean years and increased demand from China.
		Business is so good that Grupo Mexico reported a consolidated net profit increase to $250.6 million for the first quarter of 2005, 51 percent higher than the $165.6 million posted for the same quarter in 2004.
		Grupo Mexico could not be held responsible for Asarco's debt if the company went bankrupt, Gatsiopoulos said.
	www.tucsonweekly.com /gbase/Tools/PrintFriendly?url=%2Fgbase%2FCurrents%2FContent%3Foid%3Doid%253A70710 (1082 words)

	Who Owns The West? Mining Claims in America's West (Site not responding. Last check: 2007-10-16)
		ASARCO, a subsidiary of Grupo Mexico and its subsidiaries are a few of 92,125 beneficiaries of a 131-year-old federal mining law that gives away precious metals, minerals, and even the title to the land itself for less than $10 an acre.
		For ASARCO, a subsidiary of Grupo Mexico and its subsidiaries:
		ASARCO, a subsidiary of Grupo Mexico and its subsidiaries are some of the 3,323 mine operators on U.S. BLM lands with mining plans and notices listed as currently active in government records, operating under laws that allow mining interests to extract and sell precious metals and minerals previously held by the public.
	www.ewg.org:16080 /mining/owners/overview.php?cust_id=-3646 (847 words)

	El Paso Times Business (Site not responding. Last check: 2007-10-16)
		Grupo Mexico bought financially troubled Asarco in 1999 for $1.18 billion in cash and assumed $1.02 billion of Asarco's debt.
		Grupo Mexico almost immediately ran into financial problems after the Asarco purchase in late 1999 because of a depressed copper market.
		Grupo Mexico reported a total profit of $489.5 million in the first three months of the year, its latest financial data.
	www.borderlandnews.com /apps/pbcs.dll/article?AID=/20050814/BUSINESS/508140327/1046 (1247 words)

	Planet Ark : Grupo Mexico says most of it safe from US court
		Grupo Mexico said the subsidiaries that would not be harmed are its railway group Grupo Ferroviario Mexicano, Southern Peru Copper, and its Mexican mining arm Grupo Minero Mexico.
		Grupo Mexico had a total debt load as of June 30 of $2.76 billion and net debt of $2.47 billion.
		Grupo Mexico said in the statement yesterday that it has been discussing a potential sale of the SPCC stake for some time.
	www.planetark.org /dailynewsstory.cfm/newsid/17276/story.htm (759 words)

	Murray Information Services, Inc. (Site not responding. Last check: 2007-10-16)
		Grupo and Americas Mining Corporation, Asarco’s corporate parent, “are holding companies, with their only business?mining and railroading?being conducted through wholly owned and controlled subsidiaries such as Asarco and Southern Peru Copper Company,” he wrote.
		Grupo and Asarco have contaminated the soil and water of Mineral County and reaped the financial bounty of Montana’s resources...
		Grupo, plainly and on its face, utilizes Asarco as a shell to conduct lucrative commerce in the United States whenever and however it sees fit.
	www.murrayinfo.com /news/20030709/asarco-7-9-03.htm (595 words)

	Company News On Call
		Grupo Mexico is the parent company of Grupo Minero Mexico, which is Mexico's largest mining company.
		Net debt at GMM is not expected to increase beyond the $250 million in cash that is planned to be upstreamed to Grupo Mexico to fund a portion of the purchase.
		DCR assumes that if the purchase is successful as currently structured, Grupo Mexico would require only limited upstream financial support from GMM in the event of unfavorable conditions at Asarco, including periods of low copper prices.
	www.prnewswire.com /cgi-bin/stories.pl?ACCT=105&STORY=/www/story/09-27-1999/0001030745 (299 words)

	Workers cancel strike threat in Mexico - Metals Place · Copper News
		Workers at Mexico's biggest copper mine accepted new contract terms late Thursday, removing the threat of a strike at the Grupo Mexico facility.
		In a separate negotiation, the union said that workers at Grupo Mexico's zinc refinery in San Luis Potosi also accepted the company's proposed labour terms.
		A nearly three-week-long strike was settled July 30 at Grupo Mexico's La Caridad operation, which produces 140,000 metric tons (155,000 tons) a year of copper in concentrate and has a refinery that produces about 250,000 metric tons (275,000 tons) of year of refined copper.
	www.metalsplace.com /metalsnews/?a=179 (275 words)

	Forbes.com: Grupo Mexico hits record high as copper soars (Site not responding. Last check: 2007-10-16)
		Grupo Mexico , the world's third largest copper producer, saw its stock jump 2.93 percent to 43.85 pesos after earlier hitting a record high of 44.10 pesos.
		Grupo Mexico is highly leveraged to the price of copper, which each 1 cent rise or fall in copper prices meaning a $20 million difference in the companies revenue either way, analysts estimate.
		Grupo Mexico has also said its proposed transfer of its Mexican mining assets to its Southern Peru Copper subsidiary would help it renegotiate debt and expand operations for both companies.
	www.forbes.com /markets/newswire/2004/02/17/rtr1264027.html (369 words)

	Banco De Mexico (Site not responding. Last check: 2007-10-16)
		Banco de Mexico, which normally adjusts rates by changing the amount it lends banks overnight at higher rates, today said by how much it would let banks drive...
		Banco de Mexico cut its benchmark rate by a quarter point to 9.5 percent on Aug. 26, the first step in...
		Banco de Mexico, which normally adjusts rates by changing the amount it lends banks overnight at higher rates, today did so by saying by how much it would...
	www.wikiverse.org /banco-de-mexico (269 words)

	American Metal Market: Grupo Mexico unifies buying with e-commerce network - Brief Article (Site not responding. Last check: 2007-10-16)
		For example, Grupo Mexico spends about $40 million on tires and is saving about 10 percent with the system, a spokesman said.
		Grupo Mexico officials said recently that U.S. purchasing is centralized in Tucson, Ariz.
		Since, the deal's completion in November, Grupo Mexico's axe has fallen on personnel, replacing higher-paid expatriates at SPCC with its own management and local executives, while capital spending budgets are being reviewed and redrawn to capture efficiencies.
	www.findarticles.com /p/articles/mi_m3MKT/is_66_108/ai_61493075 (346 words)

	THREE-WAY COMBO - CFO.com
		According to sources familiar with the meeting, Grupo Mexico, which already owned 10 percent of Asarco, was on McAllister's list of potential merger partners to call.
		At McAllister's request, an agent of Asarco placed a call to Grupo Mexico "to see if there would be a time for Asarco's chief executive to talk to their chief executive." Later that day, McAllister received a faxed letter from Grupo Mexico offering an all-cash offer at $26 a share for Asarco.
		Grupo Mexico, which already owns 10 percent of Asarco, offers to buy the rest of Asarco's shares for cash at $26 a share, or $1.03 billion, $200 million more than Phelps Dodge's offer of September 22.
	www.cfo.com /printarticle/0,5317,1396,00.html (2310 words)

	Grupo Taca (Site not responding. Last check: 2007-10-16)
		With the flight to Mexico, GRUPO TACA has been responsible 11 times for providing transportation for the highest patriarch of the Catholic Church.
		"GRUPO TACA was deeply honored to transport the Holy Father, his official Committee, and members of the press traveling with him, and to be recognized as a World Class airline," Corporate Communications Director Claudia Arenas said.
		GRUPO TACA's Airbus A319 and A320 aircraft allow it to transport passengers in comfort and efficiently to 36 destinations in 19 countries in North, Central and South America and the Caribbean.
	www.hispanicprwire.com /print_Pope5_ENG.htm (252 words)

	El Siglo de Torreón - Bienvenido! - Edición de Jueves 08 de Septiembre - 2005 - [www.elsiglodetorreon.com.mx] (Site not responding. Last check: 2007-10-16)
		Grupo México transferirá su unidad Minera México, que no cotiza en bolsa, a Southern Perú en una operación que creará a la segunda compañía minera del mundo en capitalización de mercado.
		*Grupo México transferirá su unidad Minera México, que no cotiza en bolsa, a Southern Perú en una operación que creará a la segunda compañía minera del mundo en capitalización de mercado y la primera, de entre las firmas públicamente listadas, en cuanto a reservas de cobre.
		*Grupo México espera que la fusión aumente la producción de La Caridad y Cananea en 25 por ciento en los próximos tres años con una actualización tecnológica de SPCC y de la riqueza mineral de las minas.
	www.elsiglodetorreon.com.mx /start/nID/140725 (1056 words)

	[No title] (Site not responding. Last check: 2007-10-16)
		Sucede que en los llamados “grupos de empresas circulares”, una empresa domina a una segunda, esta hace lo propio con una tercera y así sucesivamente, hasta que la última domina a la primera, de manera tal que todas son (a la vez) dominantes y dominadas.
		Grupo de empresas circular.- Se considera nulo de pleno derecho el contrato de dominación grupal mediante el cual se constituye un grupo de empresas circular.
		El grupo de empresas es circular cuando una empresa domina a una segunda, ésta domina a una tercera y así, sucesivamente, hasta que la última domina a la primera.
	www.uaca.ac.cr /acta/2001nov/dechaiz.doc (3871 words)

	Grupo México dice huelga minera reducirá producción a la mitad - Movimiento Sindical Independiente de Cuba - ...
		Grupo México dice huelga minera reducirá producción a la mitad - Movimiento Sindical Independiente de Cuba - www.cubasindical.org
		MÉXICO, 5 (AP) - La empresa minera Grupo México dijo que la huelga que comenzó este fin de semana en la unidad de explotación de cobre Asarco podría reducir su producción a la mitad en su subsidiaria de Tucson, estado de Arizona.
		Grupo México tiene operaciones en Estados Unidos, México y Perú.
	www.cubasindical.org /news/internacionales/y05/o07050505.htm (198 words)

	www.mineweb.net \| sections \| whats new Asarco files Chapter 11, citing strike, environmental liabilities (Site not responding. Last check: 2007-10-16)
		ENO--(Mineweb.com) As Grupo Mexico's U.S. subsidiary Asarco filed for bankruptcy reorganization Wednesday in a U.S. bankruptcy court in Texas, environmental NGOs declared their concerns about is millions in environmental liabilities the company has in several western states.
		Skeptics have asserted that since Grupo Mexico acquired Asarco in a 1999 hostile takeover, the Mexican railway giant restructured billions of dollars in debt and is now making money.
		At the time the DOJ was afraid that Grupo Mexico planned to liquidate Asarco's assets and then have Asarco declare bankruptcy.
	www.mineweb.net /sections/whats_new/471281.htm (761 words)

	Merrill Starts Coverage Of Miner Grupo Mexico At Buy \| newratings.com (Site not responding. Last check: 2007-10-16)
		ET, Grupo Mexico's B shares were gaining 2% to MXN18.70 on the Mexican Stock Exchange.
		Grupo Mexico is the world's third-largest copper miner, with operations in Mexico, Peru and the U.S. The company's Peruvian operation, Southern Peru Copper Corp. (PCU), is focused on reducing its debt load.
		Merrill Lynch reckons that the upside potential for Grupo Mexico in the case of a bankruptcy or spin off for Asarco could be 44%.
	www.newratings.com /new2/beta/article_949414.html (357 words)

	Hospitality Net - Industry Links - Grupo Posadas (Mexico)
		GRUPO POSADAS is the largest hotel operator in Mexico and Latin America.
		GRUPO POSADAS is the hotel company of greatest impact within Latin America.
		GRUPO POSADAS is an exciting company that has grown through continued development and the exploration of new hospitality concepts.
	www.hospitalitynet.org /web/11004104.html (492 words)

	Informe de la Minería Mexicana 2002 (Site not responding. Last check: 2007-10-16)
		Por grupo de mineral, en general, se registró un comportamiento negativo en los valores de producción, con excepción del grupo de metales preciosos, cuya producción creció 7.8%.
		A fines de 2001, Grupo México anuncia una segunda etapa de reestructuración estratégica cuyo principio rector es dar preferencia a la reducción de costos frente al incremento en los volúmenes de producción, para hacer frente a las dificultades del mercado mundial.
		Los resultados negativos del grupo fueron determinados por la persistencia de la crisis en la industria de los combustibles sólidos; la producción de coque cayó 30% y la de carbón 9%; a esto se sumó un decremento de 11% en la producción de manganeso.
	www.economia.gob.mx /?P=1636&TS=1 (6193 words)

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