REP is sold to firm in Mexico
A Mexican steel manufacturer has purchased Republic Engineered Products Inc., including the Lorain works, for an undisclosed amount, according to the Fairlawn-based REP. The sale came after a month of ‘’intense'’ talks and the deal was closed yesterday, REP spokesman John Willoughby said.
The buyer is Industrias CH, S.A., de C.V. (ICH), a rapidly growing steel producer and processor based in Mexico City, Willoughby said.
Willoughby and officials of United Steelworkers Local 1104, which represents workers at REP’s rolling bar mill in Lorain, said yesterday they didn’t know enough about the purchase agreement to say whether any jobs will be lost in ICH’s acquisition.
ICH is operated by the Sergio Vigil family in Mexico City, and is traded on the Mexico Stock Exchange, according to an REP news release.
ICH’s acquisition of Republic will give ICH a presence in North America for the first time, according to the news release.
The sale didn’t involve the acquisition of the Pittsburgh-based U.S. Steel’s tubular mill, which neighbors the REP mill in Lorain, according to Willoughby.
More: morningjournal.com
UPDATE 1-Bank of America sells Mexico asset management firm
Bank of America Corp. (BAC.N: Quote, Profile, Research) said on Thursday it will sell its asset management business in Mexico to Grupo Financiero Santander Serfin, the Mexican subsidiary of Madrid-based Grupo Santander (SAN.MC: Quote, Profile, Research)(STD.N: Quote, Profile, Research).
Terms of the deal, expected to close no later than the end of first-quarter 2006, were not disclosed. The Mexico business has about $1.8 billion under management.
Bank of America said it decided to sell the business because it did not have sufficient synergies with the company's corporate and investment banking and cash management businesses
Airbus jets for Italy and Mexico
Airbus has received firm orders for 46 passenger aircraft from airlines in Italy and Mexico.
Air One, a carrier with 25% of the Italian market, ordered 30 Airbus A320 and announced options to buy a further 60 of the 159-seater planes.
Mexican start-up airline Volaris will buy 16 of the slightly smaller Airbus A319, with 40 options for A320 planes.
The deals give Airbus an early edge over Boeing, which last year sold more planes than its European rival.
Air One, founded 10 years ago, will use the Airbus A320 to replace its current fleet of
Pulte sells Mexico operations to investment firm
Home builder Pulte Homes Inc.(PHM.N: Quote, Profile, Research) on Tuesday said it sold its Mexico home-building operation to investors led by affiliates of Walton Street Capital, allowing the company to focus on its U.S. expansion.
Pulte, the No. 2 U.S. home builder, did not release financial terms of the deal.
"As previously announced, we have been evaluating long-term strategic alternatives with regard to all of Pulte's international operations," Roger Cregg, Pulte chief financial officer, said in a statement. "With the sale of our Mexico home-building operation, we have effectively exited our international business allowing us to
Pulte sells Mexico operations to investment firm
Home builder Pulte Homes Inc.(PHM.N: Quote, Profile, Research) on Tuesday said it sold its Mexico home-building operation to investors led by affiliates of Walton Street Capital, allowing the company to focus on its U.S. expansion.
Pulte, the No. 2 U.S. home builder, did not release financial terms of the deal.
"As previously announced, we have been evaluating long-term strategic alternatives with regard to all of Pulte's international operations," Roger Cregg, Pulte chief financial officer, said in a statement. "With the sale of our Mexico home-building operation, we have effectively exited our international business allowing us
A Clarion Call: Do what's Best for America, NOT Mexico!
By engaging a PR firm to represent Mexico against American interests in the debate on illegal immigration, Vicente Fox & his gang of banditos have escalated the attack on America to an unprecedented level. It now includes nefarious meddling in US internal affairs, just short of a formal declaration of war.
Enough is enough! Those who genuinely care about America must demand that this latest Mexican incursion be soundly defeated. Unfortunately, the current occupant of the White House seems unconcerned with American interests; a despicable & cowardly position shared by far too
Mexico steps up border fight
Mexican President Vicente Fox promises to mount an international campaign to coerce the United States not to add to the fence along our common border.
"Shameful" is the word he used. Parroting his leader, Mexican Foreign Secretary Luis Ernesto Derbez said last week that "Mexico ... will not allow a stupid thing like this wall. What has to be done is to raise a storm of criticism ..."
Toward that end, Fox has hired the Dallas public relations firm Allyn & Company to peddle its interest in keeping the illegal immigration spigot wide open.
"If people in the
Duane Dog Chapman Says Feds Sold Him Out to Mexico in Exchange for Drug Lord
Bounty hunter Duane Dog Chapman says U.S. officials may have sold him out to Mexico in exchange for a convicted drug lord.
Chapman, the star of A&Es Dog the Bounty Hunter, was arrested last week by U.S. marshals during an early morning raid on his Hawaii home on charges related to his 2003 capture of fugitive rapist Andrew Luster.
Mexico - where bounty hunting is illegal - claims Chapman jumped bail after being charged with illegally detaining Luster in June 2003.
But Dog and his family have suggested that
Firm violated the former ban
It used to be a crime to export some Western states potatoes to Mexico. Officials south of the border said they feared pests would come across in the shipments.
A Seal Beach broker, who tried earlier to get around the ban, got caught and had to pay a $10,000 fine in San Diego federal court last week.
Ned's House of Produce changed the documents accompanying $23,000 worth of Mexican-bound Colorado potatoes to say they came from North Carolina.
"It hasn't happened since," said Howard Frank, a lawyer for Ned's, after the court hearing. "They've been completely law-abiding
Vinci sells stake in Mexico's SETA airport operator for nearly 38 mln usd
Vinci said it has sold its holding in Mexican airport operator SETA to Mexico's ICA for just under 38 mln usd, completing the French company's withdrawal from the country's airport sector.
SETA operated 13 airports in North and central Mexico, including Monterrey airport.
In April 2004, Vinci sold the indirect holding it had in the airports of southern Mexico for around 30 mln usd.
Soure: forbes.com
Mexico steps up border fight
Mexican President Vicente Fox promises to mount an international campaign to coerce the United States not to add to the fence along our common border.
"Shameful" is the word he used. Parroting his leader, Mexican Foreign Secretary Luis Ernesto Derbez said last week that "Mexico ... will not allow a stupid thing like this wall. What has to be done is to raise a storm of criticism ..."
Toward that end, Fox has hired the Dallas public relations firm Allyn & Company to peddle its interest in keeping the illegal immigration spigot wide open.
"If people in the
