IMSA Willing To Buy Stake in Hylsamex, Mexico

IMSA Willing To Buy Stake in Hylsamex, Mexico
Published: 13 April 2005

Mexican industrial conglomerate Industrias Monterrey SA. (IMSA) is studying possibilities to buy a stake, or to merge with Mexican ready-mix maker Hylsamex, a unit of Mexican diversified holding Grupo Alfa, the chairman of IMSA, Eugenio Clariond Reyes, said on April 11, 2005.  "So far we are only studying various options," Clariond Reyes added.

IMSA has the funds to buy Hylsamex and in 2005 expects a revenue of some $4bn,  the chairman of the conglomerate said.  The president of Grupo Alfa, Dionisio Garza Medina, has recently said that Alfa expects to sell its unit Hylsamex by end-2005. Hylsamex is being spun off from Alfa at present. According to Garza Medina, the market capitalisation of Hylsamex stands at $2.2bn.