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San Pedro Garza García, Nuevo Leon, Mexico, November 29th, 2017 – Vitro, S.A.B. de C.V. (BMV: VITROA), hereinafter “Vitro” or the “Company”, a leading glass producer in North America, reports that today he has notified BBVA Bancomer the intention to make an advance payment of principal to the Credit Agreement for $60 million dollars plus the interest accrued on this sum to the debt of $230 million dollars issued by Vitro with this financial institution on December 18th, 2016.
Referring to this advance payment, Adrián Sada Cueva, CEO of Vitro stated, "The decision to anticipate this payment was made with the objective of significantly strengthening the financial structure and improve the Company's balance sheet, which was possible thanks to the efficient management of cash flow."
Claudio Del Valle, CFO of Vitro, stated: "This operation confirms our commitment to maintain a healthy financial position while decreasing our leverage and improving our debt profile. It is important to mention that this advance payment is being made without interrupting our investment plans."
Vitro, S.A.B. de C.V. (BMV: VITROA) is a leading glass manufacturer in North America and one of the world’s major companies in its industry, backed by more than 100 years of experience. Founded in 1909 in Monterrey, Mexico, the Company has subsidiaries around the globe, offering quality products and reliable services to meet the needs of two businesses: glass containers and flat glass. Companies of Vitro produce, process, distribute, and market a wide range of glass articles, which are part of the daily life of thousands of people. Vitro offers solutions for multiple markets, including cosmetic, pharmaceutical and toiletries, as well as architectural and automotive. The Company is also a supplier of chemical products and raw material, machinery, molds and equipment for industrial use. As a socially responsible organization, Vitro works on several initiatives aligned to its Sustainability Model, aiming to create a positive influence in the economic, social, and environmental aspects relevant to its stakeholders, in a responsible corporate management framework. For more information, visit: /