Novelis is projecting growth in worldwide demand for aluminum foil for automotive production. In particular, aluminum is expected to be in greater demand globally, due to the increasing use of electric vehicles, which use larger quantities of aluminum. Novelis’ projection is that global demand for aluminum automotive sheet
The Federal Economic Competition Commission (Cofece) authorized the purchase of a PetroBal subsidiary by Grupo Carso for US$530 million. This transaction involves the total acquisition of PetroBal’s interest in the Ichalkil and Pokoch oil fields. Petrobal is a subsidiary of Grupo Bal, which in turn has businesses related
Mexico decreased its fertilizer imports in 2023 and in the first quarter of 2024, according to data from the Ministry of Economy. At year-on-year rates, these foreign purchases fell at a year-on-year rate of 30% in 2023, to 2.459 billion dollars. Mexico is a major competitor in exports
Grupo Carso reported that its auto parts sales recorded a 4.5% year-over-year decline in 2023. This result contrasted with the increase in Mexican auto parts exports to the U.S. market, which grew 12.3%, reaching US$80.15 billion in 2023. According to Grupo Carso, a business conglomerate founded by Carlos
Orbia’s investments in property, plant and equipment (CAPEX) totaled US$589 million in 2023. For comparison: in 2021 its Capex was US$286 million and in 2022 it increased to US$470 million. These investments by Orbia enabled eight noteworthy acquisitions to be made: On April 1, 2021, the company bought
The investment for the remodeling of the Azteca Stadium scheduled for 2024 is estimated at 900 million pesos. Although the Ollamani company informed that this is an initial investment, it did not specify the total amount of the remodeling. The reason for this work is that the Azteca