Aerospace News

  • Mexichem completes acquisition of irrigation giant Netafim Ltd. for US$ 1.9 billion

    Mexico-based plastics and chemicals manufacturer Mexichem SAB de CV announced it has completed the acquisition of an 80% stake in Netafim Ltd., an Israel-based drip-irrigation developer and producer in an all-cash deal worth US$ 1.895 billion.

    Mexichem bought its shares from London-based private equity firm Permira, which acquired 61.3% of Netafim’s shares in 2011, and other minority stakeholders. Kibbutz Hatzerim, founder of

  • Grupo Bimbo to set solar panels in 80% of its Mexican facilities

    Grupo Bimbo, the world’s largest baking company, announced the start-up of a photovoltaic system, which will prevent the annual emission of more than 2,500 tons of CO2.

    Called "Bimbo Solar Self-Supply System", it will integrate 33 systems that will generate 3.7 MW altogether, in order to reduce pollution.

    During its first stage, the energy system will supply power to 24 sales centers, 7 branches of El Globo, the Corporate

  • Grupo Minsa sells US subsidiary in US$ 75 million deal

    Bunge North America, the North American operating arm of Bunge Limited, announced that it has purchased Minsa Corporation, a wholly-owned U.S. subsidiary of Mexican corn miller Grupo Minsa S.A.B. de C.V., valued at US$ 75 million. The acquisition includes corn flour mills in Red Oak, Iowa and Muleshoe, Texas.

    Corn masa, the primary ingredient for tortillas, tortilla chips, and other foods, is a key growth category in packaged food

  • Tequila exports on the rise for eighth year in a row

    In 2017, Mexico’s tequila exports totaled 211 million liters to more than 120 countries, which represented a growth of 7.1% over the previous year. It was the eighth year of consecutive increases in exports, informed the Tequila Regulatory Council.

    The organization detailed that the top 10 ranking of tequila destination countries continues to be led by the United States, with 81% (171.9 million liters), and noted that Latvia and

  • La Costeña plans to expand two production facilities in 2018

    Conservas La Costeña, Mexico’s leading canned food products company, plans to expand its production facilities in San Luis Potosi and the State of Mexico in order to increase its production capacity by 30% during 2018.

    "Those are big expansions, because the current production is already falling short to meet demand," said CEO Rafael Celorio during a press conference last week, where no investment figures were disclosed.