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
UPDATE 1-Schering says to divest Mexico chemicals unit
German drugmaker Schering (SCHG.DE: Quote, Profile, Research) will divest its chemicals production unit at Orizaba in Mexico, part of its Focus cost-cutting drive, it said on Monday.
Schering has around 250 employees at the site and expects the divestment to be completed before 2008. In the meantime, chemical production at the site will continue, it said.
The Berlin-based company is also reviewing chemical production activities at another site, at Bergkamen in Germany.
It said the review was expected to result in a further restructuring and optimisation of production processes.
Schering shares were up 0.2 percent at
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
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
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
Bank Of Nova Scotia Goes Wholesale Into Mexico >BNS
When Mexican retailer Grupo Chedraui decided to bid for a group of supermarkets owned by France's Carrefour S.A. (12017.FR), it turned to a Canadian bank.
Bank of Nova Scotia (BNS) sent a team of merger & acquisition specialists to guide the retailer through the process. Along the way, the Toronto-based bank helped Chedraui finance the $550 million purchase, provided foreign-exchange services and helped it hedge its interest-rate risk.
That, says David Wilson, chairman of the bank's investment-banking wing Scotia Capital, is the kind of cross-selling potential Bank of Nova Scotia sees in Mexico.
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 has stopped producing ozone-depleting chemicals four years before a deadline set by an international agreement, the environment secretary announced Friday.
The last chlorofluorocarbons, or CFCs - manmade chemicals used in aerosol sprays, refrigerators and air conditioners - were produced last month in this northern industrial city, Environment Secretary Jose Luis Luege Tamargo said.
Scientists have linked the use of CFCs to destruction of the ozone layer.
"Mexico is a pioneer when it comes to protecting the ozone layer, and in the last 15 years has reduced by 90 percent the use of CFCs," said Luege Tamargo, speaking at chemical plant belonging to
MINNEAPOLIS and MEXICO CITY -- NextNet Wireless, the world leader in commercially deployed NLOS fixed, nomadic and mobile plug & play broadband wireless access systems, and MVS Net, Mexico’s leading wireless broadband service provider, announced today that they are delivering Mexico’s first carrier class broadband data + VoIP bundled services, with an average call volume of 1.6 million calls per month, generating over 3.7 million VoIP minutes per month across Mexico City, Monterrey, Guadalajara, Toluca and Mexicali.
MVS Net employs a powerful carrier-of-carriers business model that supports multiple virtual network operators (MVNO’s) using a common NLOS BWA infrastructure provided by
Mexico uses athletes to promote absentee vote registration for 2006 elections
Mexican electoral officials announced on Friday that they have launched a campaign featuring well-known professional athletes to promote registration for absentee ballots by Mexican living abroad.
The July 2, 2006 elections will be the first time that Mexicans abroad will be able to request absentee ballots for a federal election; to do so, they must submit request forms by Jan. 15.
As part of the program, infielder Jorge Cantu of the Tampa Bay Devil Rays, Florida Marlins pitcher Ismael Valdes and San Diego Padres catcher Ramon Hernandez paid a visit
