Kansas City Southern tries to halt Mexico rail deal
U.S. rail operator Kansas City Southern (KSU.N: Quote, Profile, Research) asked Mexico’s anti-trust body on Friday to stop Grupo Mexico (GMEXICOB.MX: Quote, Profile, Research) merging its Ferromex rail operations with those of recently purchased Ferrosur.
In a statement, Kansas City Southern’s Mexican unit said the merger of Ferromex and Ferrosur, which was bought from Mexican tycoon Carlos Slim’s Grupo Carso last month, would limit competition.
More: today.reuters.com
UPDATE 1-Kansas City Southern wins control of Mexico's TFM
Rail operator Kansas City Southern Industries Inc. (KSU.N: Quote, Profile, Research) said on Tuesday it has reached a deal with the government of Mexico to resolve disputes over a tax refund in exchange for control of a Mexican rail network, sending its shares soaring more than 13 percent in afternoon trading.
Kansas City Southern said it and its subsidiaries now own 100 percent of Grupo Transportacion Ferroviaria Mexicana, S.A. (GTFM) and TFM, S.A. (TFM). It said the agreement did not involve cash payments by any parties.
"The effective economic impact is they're exchanging their
Mexico's Grupo TMM Sells 18 Mln Kansas City Shares
Grupo TMM SA, Mexico's largest transportation company, said it sold 18 million shares of Kansas City Southern common stock at $22.25 a share, about 10 percent lower than the U.S. railway's closing price yesterday.
Mexico City-based Grupo TMM said in a statement on Business Wire today that it sold the stock to Morgan Stanley and will apply the proceeds toward debt. Kansas City Southern shares fell 32 cents to $24.68 yesterday in New York Stock Exchange composite trading.
Kansas City Southern, based in Kansas City, Missouri, said separately it would offer 9
U.S., Mexico negotiating to set up customs port in Kansas City
KANSAS CITY, Mo. Shipping U-S vehicles and electronics to Mexico may become much cheaper and faster next year.
That's when the first Mexican customs facility in the U-S is expected to open in the Midwest.It's nearly one-thousand miles to the border from Kansas City.But the area will soon start building an inland port to whisk thousands of trucks through export inspections and back onto the North American Free Trade Agreement corridor.The three (M) million dollar facility is expected to be approved by the U-S and Mexican governments by year's end.
Chris Gutierrez
Construcciones y Auxiliar de Ferrocarriles SA has won the bid to construct and operate a light rail network in Mexico City, with an investment totalling around 510 mln eur, El Pais reported, citing the Mexican transport authorities.
CAF beat Alstom for the contract, the newspaper noted.
The new rail network will be operational in Oct, 2006, El Pais added.
Source: forbes.com
Blunt heading to Mexico on trade trip
Gov. Matt Blunt is heading to Mexico on Sunday for his first international trade trip, which includes a meeting with Mexican President Vicente Fox.
Blunt said his goal is to increase sales of Missouri products to Mexico, as well as to discuss the creation of a Mexican customs facility in Kansas City that will allow goods to be shipped straight into the heart of the United States without first having to clear customs at the borders.
Kansas City's SmartPort project will allow goods from Asia, for example, to travel through the Mexican port city of Lazaro
Wal-Mart and Li ka-Shing seen key to Mexico port expansion
Top retailer Wal-Mart Stores Inc. and Hong Kong magnate Li ka-Shing are key players in a $300 million expansion of Mexico's Pacific port of Lazaro Cardenas aimed at ensuring goods reach U.S. shelves, according to the U.S. railroad that serves the port.
"Wal-Mart and other retailers are looking for backup routes so that even if some ports face stoppages they have reliable backups," Michael Haverty, chief executive of Kansas City Southern , told Reuters at KCS headquarters here in a recent interview.
As part of current plans, he added, Wal-Mart may build a
CAF order book stands at 2.8 bln eur after Mexico light rail contract - report
Construcciones Auxiliar FFCC SA's order book stands at around 2.8 bln eur after the company won a 510 mln contract to construct and operate a light rail network in Mexico City, El Pais reported, citing unnamed CAF sources.
Yesterday, CAF said Indra Sistemas SA, Obrascon Huarte Lain SA, Alcatel, Elecnor SA, ADIF and Ineco will all participate in the project.
According to El Pais, about 100 mln eur of the total investment will be subsidised by the Mexican government.
The copying, republication or redistribution of AFX
Foreign bid on Dallas to Mexico rail line
Louis Repa has been farming his land near Granger for almost 50 years. Ten years ago he dodged a proposed light rail line that was to run right through the middle of his corn field.
Now, the Trans-Texas Corridor threatens to do the same.
"If it goes through this piece of property and I have 20 acres on this side and then have another 20 acres on this other side. It's going to be hard to get over here to this other plot that's going to be left. It's just going to make a
Aug. 19 (Bloomberg) -- A partnership of Bombardier Inc., Siemens AG and Grupo Garza Ponce SA won a $244 million contract to equip an expanded Monterrey, Mexico, light rail mass transit system.
Bombardier, the world's biggest maker of railway equipment, valued its share at about $43 million in a statement distributed by Business Wire today. Bombardier said it will provide 14 light rail vehicles to the Monterrey Mass Transit Authority, Metrorrey, with deliveries expected in the second half of 2007.
The Monterrey transit system, Mexico's second-largest, is being lengthened by 8.7 kilometers, including 1.5 kilometers underground, Bombardier said.
Source: Bloomberg.com
Traci Carl promoted to chief of bureau for Mexico and Central America
Traci Carl, news editor for The Associated Press in Mexico and Central America, has been promoted to chief of bureau.
The appointment was announced Friday in New York by Deborah Seward, AP's international editor.
Carl, 33, will be responsible for coverage of Mexico, Guatemala, Belize, El Salvador, Honduras, Nicaragua, Costa Rica and Panama.
She succeeds Eloy O. Aguilar, who has taken on a new role as administrative director for the region. Aguilar also will continue to be involved in the news and business operations of the bureau.
Carl joined AP in 1995 in
