|The CCN Mexico Report™ is a monthly newsletter with coverage of Mexican political, business and legal topics from Cacheaux, Cavazos & Newton (CCN). Subscriptions to the CCN Mexico Report™ are free. The CCN Mexico Report™ features exclusive commentaries and views from CCN’s attorneys and professionals in both English and Spanish. CCN is an international law firm with offices in Texas and Mexico dedicated to serving clients doing business in the NAFTA region.|
NOVEMBER 2005 EDITION ARCHIVE
Legal UpdatesThe Mexican cement maker Cemex may make acquisitions in new markets such as India and China, which was announced on Monday, as soon as the assimilation of acquisition of the Briton RMC is complete. Cemex, the world’s third largest cement maker, has gone in one decade from being a local player to a company with operations in more than 50 countries through its strategy of growth through acquisitions. The biggest purchase until now has been RMC, which cost $5,800 million dollars. Lafarge and Holcim... [Read More]
Business & Politics OutlookWith no agreements, final document signed by all the heads of state, nor a closing, and with the early retreat of the chief attendees, the Fourth Summit of the Americas was concluded in Mar de la Plata, Argentina. Facing an absence of consensus on the expediency of establishing what would be the Free Trade Area of the Americas (FTAA), much less arranging dates for the beginning of the discussions, the nations that make up Mercosur – Brazil, Argentina, Uruguay, Paraguay and Venezuela –... [Read More]
- Country risk for Mexico was lowered 4 points in November, in contrast with the 135 of the previous week, according to a JP Morgan Chase’s Secretary of Treasury (SHCP) bulletin. The country risk of Mexico was compared with those of Brazil and Argentina, which closed the same day at 355 and 378 points, respectively. Country risk results from the difference between the quotations of the sovereign debt instruments expressed by Mexico and the instruments with similar characteristics expressed by... [Read More]
- In view of four new discoveries of natural gas in the Burgos Basin and in Veracruz, the Secretary of Energy, Fernando Canales Clariond, announced that the federal government would promote a legal reform to allow individuals to exploit abandoned wells for Mexican oil. He stated that the principal petroleum companies of the world, and even some Mexican companies, are interested in participating in the process, which would represent thousands of additional barrels and big business opportunities that... [Read More]
- The German laboratory Schering wants to sell the chemical production plant in the Mexican city of Orizaba (Veracruz). With the sale of this plant, which makes products for injections, needles, and the various packing/mailing/shipping of medicines to Latin America, Schering wants to avoid closing the facilities which have a staff of approximately 250 people before 2008. Until then, they will support the production, according to sources inside the company.
- The Italian automaker Fiat and U.S automaker Ford signed a cooperation agreement to develop and produce small vehicles. This was announced on Monday in a news release. Two new models will go out in the year 2007 and 2008 and approximately 240,000 units will be made at the facilities in Fiat, Tichy, located south of Poland. Part of the engines and gearboxes will be made in Italy. The cooperation agreement with Ford represents a new stage of the strategy adopted with Fiat and is based on establishing... [Read More]
Economic IndicatorsThe Mexican peso gained ground on American dollar. The current quotation of the currency is of $10.71 pesos per dollar compared to $10.88 in October.
- The Mexican Stock Exchange (BMV) is currently at (closing November 10, 2005) 16153.08 points.
- Interbank Lending Rates (TIEE) at 28 days are currently 9.20 %.