Need more information?Contacts Contacts
San Pedro Garza García, Nuevo León, March 30 – Vitro, S.A.B. de C.V. (BMV: VITROA), henceforth “Vitro” or the “Company”, the leading glass producer in North America, held today its Annual Ordinary General Shareholders’ Assembly as per the announcement published last March 15.
The reports from the Audit Committee and the Corporate Practices Committee were approved, together with the financial statements for the 2016 period and the reports from the Chief Executive Officer. The Assembly also approved the annual reports from the Audit Committee, Corporate Practices Committee and from the Board of Directors for the period ending on December 31st, 2016.
A cash dividend payment of USD 0.051746343 per share was decreed resulting from the Net Profit reflected in the Company’s Financial Statements for the period ending in December 31st 2016.
Furthermore, the assembly agreed to ratify all the Board of Directors members, as well as its Chairman and Secretary for the 2017 period. As a result, Vitro will maintain 5 independent Directors representing 41.66% of the Board of Directors thus exceeding the minimum level required by Mexico’s Securities Market Law.
Following its ratification as Chairman of the Board of Directors, Adrián Sada González mentioned that “The year 2016 was a great period for Vitro in spite of challenging macroeconomic conditions because the Company laid the groundwork for a solid future derived from the highly defined organic growth achievements which in conjunction with new acquisitions allow us to meet our objective of generating value for our shareholders”
Vitro, S.A.B. de C.V. (BMV: VITROA) is the leading glass manufacturer in Mexico 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 in the Americas, 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.