MEXICO: FEMSA lines up US$730m investment
FEMSA has followed its full-year figures earlier this week with the unveiling of plans to invest heavily in its drinks businesses this year.
The Latin American group said yesterday (26 February) that it intends to plough around US$400m into its beer division, with a further $30m going to its Brazilian beer operations and $300m being spent at Coca-Cola FEMSA, in which FEMSA holds a 53.7% stake.
The figures were revealed by the head of FEMSA's investor relations, Juan Fonseca, in a conference call with analysts. No further details were given of specific intentions for these investments.
FEMSA yesterday posted rising earnings and sales for 2006. The Mexican company saw operating income increase by 6% year-on-year to MXN17.4bn (US$1.6bn) on the back of a 13% jump in revenues to MXN126.4bn.
The company's three business areas - beer, soft drinks and retail - "contributed positively to this double-digit pace", FEMSA said.
Fomento Economico Mexicano (FEMSA) has posted flat operating income for its second quarter....
Coca-Cola FEMSA has posted a strong lift in second quarter operating profit....
Coors has launched a consumer campaign to reinforce the brand's heritage in the UK....
Coca-Cola FEMSA and The Coca-Cola Co. have appealed against the authority's objection over the company's planned purchase of Jugos del Valle....
Mexican group Fomento Economico Mexicano (FEMSA) has raised its 2007 investment figure from US$890m to MXN11.26bn ($1.045bn)....
Heineken and FEMSA have extended their tie-up in Brazil....
Coca-Cola FEMSA and The Coca-Cola Company have seen their plans to buy Mexican fruit juice company Jugos del Valle hit the buffers....
Mexican beverage group Fomento Economico Mexicano (FEMSA) has reported a three-for-one stock split....
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