Telemundo links with Mexico’s Xtra in new venture
Telemundo, the No. 2 U.S. Spanish-language broadcaster, said on Wednesday it has teamed up with Mexican holding Grupo Xtra to boost its presence across Latin America.
NBC Universal’s Telemundo competes for Hispanic viewers in the United States against leader Univision Communications Inc. (UVN.N: Quote, Profile, Research).
Grupo Xtra, owned by the Saba family, owns tourism, real state, construction, agriculture, food, financial and textile businesses.
Telemundo and Grupo Xtra said in a joint statement they will create two new companies. One, a Mexican-based production company, Estudios Mexicanos Telemundo, will produce content for viewing in Mexico, the United States and the rest of Latin America.
More: today.reuters.com
Nova Chemicals forms joint venture in Mexico
NOVA Chemicals Corp. said on Friday it reached a joint venture agreement with privately-held Mexican firm Grupo Idesa to produce and distribution polystyrene for the construction and packaging industries in Mexico.
The new company, to be called Novidesa, will also distribute NOVA Chemicals' solid polystyrene in Mexico. The joint venture will be formed by a cashless transaction and is expected to begin operations by September.
More: ca.today.reuters.com
Basilica de Zapopan: Guadalajara
The Basilica of Zapopan, east links, gives old gratification in Jalisco and is considered an architectural gem. The monks franciscains built the doric colonial basilica of era in 1690. It has a Gothic jumped ceilings, a Corinthian furnace bridge and a flowered frontage of Plateresque-model typical gives Spanish. Honouring the Virgin with the immaculate, known design today in so much which Virgin of Zapopan, the each 12 October the religious festival of RomerÃa of the Virgin of Zapopan reveals here. South links curious remark, during the Mexican revolution the row of general at southern summer granted three
Defense overtones clouds U.S.-Mexico scientific venture
In the biggest joint Mexico-U.S. scientific venture ever, builders are finishing a monster telescope on top of a volcano that will let astronomers look back 13 billion years and uncover secrets about the creation of the universe.
President Vicente Fox and Mexico's scientific community have championed the telescope, the largest of its kind in the world, saying it shows how a developing country can play a major role in cutting-edge technology.
Yet the fact that most of the U.S. funding comes from the Defense Department has worried some Mexicans who are leery of any military connections with
Dana Corp. dissolves joint venture in Mexico
Dana Corp. announced plans to acquire full ownership of several operations based in Mexico, following the dissolution of its joint venture with DESC S.A. de C.V., known as Spicer S.A. de C.V.
Dana will assume 100 percent ownership of operations that make and assemble axles and driveshafts, as well as forging and foundry operations in which the company now holds an indirect 49-percent interest.
DESC, in turn, will assume full ownership of the transmission and aftermarket gasket operations in which it now holds a 51-percent interest.
The transactions are expected to close in the first quarter of
Metro to start newspaper in Mexico
Metro International and Mxshares SA de C.V. are entering a joint venture to publish a new edition of the free Metro newspaper in Mexico City.
Metro International SA, which publishes newspapers from Santiago to Helsinki, will publish a new edition of its free Metro newspaper in Mexico City through a local joint venture to tap the country's growing advertising market.
Metro and Mxshares SA de C.V. will each have 35 percent stakes in a new company, while 30 percent will be owned by Immobiliaria Torraco SA de C.V., Metro said in a statement Monday. London-based Metro said
Mexico's Geo expands land-purchashing program
Mexican homebuilder Geo said it added $100 million for land purchases as part of a deal with PREI, a real estate business of Prudential Financial, that takes advantage of the housing boom in the country.
The original goal of both companies was to invest $180 million.
"Due to high demand demonstrated by investors towards such an attractive opportunity, Phase II (of the venture) will now consist of a total of $280 million that will be invested in the purchase of strategic plots and land," Geo said on Wednesday.
More: today.reuters.com
HBPO Opens New Manufacturing Plant in Mexico
HBPO GmbH, a joint-venture company formed by automotive suppliers Hella, Behr and Plastic Omnium, has opened a new 12,000-square-foot manufacturing plant in Hermosillo, Mexico.
The facility will produce front-end modules for the Ford Fusion, Mercury Milan and Lincoln Zephyr models built at Ford Motor Company's Hermosillo assembly plant. The HBPO facility employs 42 people and has an annual production capacity of more than 220,000 front-end modules.
The Hermosillo plant is HBPO's second facility in Mexico. The company also operates a plant with more than 110 employees in Puebla that supplies front-end modules for Volkswagen
Mexico's Geo expands land-purchashing program
Mexican homebuilder Geo said it added $100 million for land purchases as part of a deal with PREI, a real estate business of Prudential Financial, that takes advantage of the housing boom in the country.
The original goal of both companies was to invest $180 million.
"Due to high demand demonstrated by investors towards such an attractive opportunity, Phase II (of the venture) will now consist of a total of $280 million that will be invested in the purchase of strategic plots and land," Geo said on Wednesday.
More: today.reuters.com
Mexicos Alfa buys Bancomers Onexa stake for $51 mln
Mexican conglomerate Alfa SA (ALFA.MX) said Monday it bought the 49% of its telecommunications unit Onexa that was owned by financial group BBVA-Bancomer for $51 million.
Onexa is a joint-venture partner with AT&T Corp. (T) in telephone company Alestra. Onexa holds 51% of Alestra and AT&T owns 49%. BBVA-Bancomer is the Mexican unit of Spanish banking giant Banco Bilbao Vizcaya Argentaria (BBV).
Alfa said that increasing its stake in Onexa to 100% will give the company more flexibility in taking strategic decisions with its telecommunications investment.
Alestra, with annual sales of $400
Chilean president calls Mexico’s international voice crucial
Mexico and Chile have been called to play a crucial role in encouraging the union of Latin American nations, through innovative instruments such as the Strategic Partnership Agreement (SPA) said President Vicente Fox Quesada.
Events have proved that both countries have the will to establish links through communication, information, business and trade between the two societies, while seeking the incorporation of Latin American nations, he added.
During the last day of Chilean President Ricardo Lagos’ working visit to Mexico, the Mexican president said that SPA goes beyond a bilateral relationship, since it is a solid,
