San Pedro Garza García, Nuevo León, February 27, 2019 – Vitro, S.A.B. de C.V. (BMV: VITROA), hereinafter “Vitro” or the “Company”, the leading glass producer in North America, announced today that the Board of Directors approved the investment of USD$60 million in new technologies. The Executive Team will be working over the next 18 months to implement these investments according to the Board’s guidelines.
The investments will be focused on North America to reinforce Vitro’s market leadership in automotive glass, supplying both original equipment manufacturers and aftermarket customers.
“The auto industry is being disrupted,” said Adrian Sada, CEO of Vitro , “and our investments include a series of technologies aimed at aligning our capabilities to become the supplier of choice for advanced auto glass solutions in windshields, coatings, laminated sidelites and sunroofs.”
Over the past four years, Vitro Automotive invested more than $78 million across operations in state of the art process capabilities. These investments firmly position Vitro Automotive at the pinnacle of innovation to serve the auto industry.
“SUV growth, electrification, augmented reality displays, connectivity, emissions regulation, safety, acoustics, weight reduction, advanced sensors, advanced antennas, energy-efficient technologies and new mobility models are the disruptors that create the need for new solutions in windshields, windows and sunroofs,” Salvador Minarro, President of Vitro Automotive Glass said. “Vitro is committed to supplying the product solutions needed on the automobiles of the future.”
Site locations for new investments are being finalized.