JUNE 04

CAPITALS MARKET. (EL ECONOMISTA 7) GRUMA. Citi Banamex increased the recommendation to buy Gruma stock following the corrected valuation. Last week, Gruma’s shares rose 1.92% to MXN 217.77. 

DUNCAN TAYLOR, AMBASSADOR OF THE UNITED KINGDOM TO MEXICO / LONDON EYE. (EXCÉLSIOR 2) A few weeks ago, I wrote about what a privilege it was to see how the relationship between our countries has been strengthened in recent years. I constantly hear new stories of collaboration and success between Mexicans and Britons, which makes it easy to continue falling in love with Mexico... This has been the case with Mexican companies such as Mexichem, Gruma, Bimbo, Cemex, Fresnillo. GNP Monex, Kidzania y Lovis…Gruma,which has two plants with nearly 850 employees, is another relevant example. Juan González, President and CEO of Gruma, had this to say: “Eighteen years ago we started our formal entry into Europe via the United Kingdom, and this became the starting point from which we grew both our pan-European network of manufacturing facilities and our strong business presence...” 

JUNE 05

ANDREW SELEE: VANISHING FRONTIERS: THE FORCES DRIVING MEXICO AND THE UNITED STATES TOGETHER (BOOK) (LEONARDO CURZIO IN FÓRMULA) Andrew Selee, President of the Migration Policy Institute, Washington: In the book I make the point that, political rhetoric aside, the US-Mexico relationship is becoming closer, and part of the reaction we see in Trump's United States is a reaction to the fact that Mexico is already part of our lives. It’s not a matter of foreign relations, it's something that’s in our lives ... San Diego and Tijuana, for example, already speak as if they were a single metropolitan area. We also see Mexican industries dominating sectors of the North American economy, such as Bimbo in the bakery industry and Gruma in the tortilla industry, as well as Lala in the dairy industry. Additionally, U.S. professional sports organizations are organizing increasingly more games in Mexico to conquer a new market. In film, four of the last five film directors to win the Oscar were Mexicans...

Juan González’s Gruma and Mission, ready for the World Cup in Russia 24-horas.mx/2018/06/04// Gruma, the Mexican company which is a global leader in the production of corn flour, tortillas, and wraps, headed by Juan González Moreno, will have a prominent place during the World Cup in Russia with Mission, one of its global brands that has been present in that nation since 2011 and recently inaugurated a new plant in Stupino, a town near Moscow...

JUNE 06

ROBERTO AGUILAR / CORPORATE MOMENT. (EL SOL DE MÉXICO 22) Solid Arguments: why buy shares in Gruma? This is the question that would sum up Citibanamex's most recent analysis of the company headed by Juan González Moreno and in which it highlights the strengths and forecasts that make Gruma an attractive opportunity for investors. The report is primarily focused on Gruma’s operations in the U.S., which are the company’s most important in terms of operating cash flow, where it expects increased sales and better margins as a result of the redesigning of its product offering where the lower price categories were reduced, the growth of the categories where it participates, and its outstanding participation in the U.S. market...

JOSÉ CARREÑO FIGUERAS / FROM THE OUTSIDE. (EL HERALDO DE MÉXICO 25) Mexico has become a symbol of American’s hopes and fears, claims expert Andrew Selee in his new book. The links between the two countries are getting deeper, says Selee, current director of the Migration Policy Institute in Washington and a recognized Mexicanist. But that relationship now makes them “less distant neighbors, and more intimate strangers...” And Selee provides example after example. From Hazleton, a small town in Pennsylvania that became famous in the 1990s and 2000s, with its then-mayor and now Republican Congressman Lou Barletta in an open campaign against Latino and in particular Mexican immigrants. And now, after several years in decline, the city is once again prospering, thanks to Mexican and Latino immigrants in general and to the investments of companies like Bimbo or Mission Foods (part of the Mexican company Gruma) ...

JUNE 07

GRUMA BOASTS OF “ANTISHOCK” SHIELD (EL NORTE (ON LINE) BUSINESS) (REFORMA 6) Gruma ruled out any impact on exchange rate risks, increases in interest rates or the renegotiation of NAFTA. "Thanks to the geographic diversification of its operations and due to the fact that most of its revenues (54%) and generation of cash flow (62%) come from its business in the United States, Gruma benefits from the strength of the dollar,” the company said in a message sent to Grupo Reforma. The release went on to say that of the cash flow generated by the company, more than 60% is in dollars, more than enough to cover any increase in finance costs resulting from the possible increase in interest rates. The company is effectively protected from any renegotiation of NAFTA due to the fact that the operations in which it is engaged are essentially independent, therefore avoiding the need for exports and imports, it said.

JUNE 13

ABOUT BOSSES. (EL FINANCIERO 30) Tomorrow the World Cup will start in Russia, where, in addition to the Mexican national team, several “Aztec brands” will vie for position at the event.Gruma, world leader in the production of corn flour, tortillas and wraps, is one of those brands. The firm headed by Juan González will be primarily represented by Mission, one of its global brands that has been present in Russia since 2011 and recently opened a plant in Stupino, near Moscow. Gruma’s new factory produces more than 50 thousand tons of wheat tortillas and corn snacks using supplies from Vladimir Putin’s country. Additionally, their sales have grown at a rate of over 15% a year in Russia, reflecting the growing acceptance of their products, both in restaurants and grocery stores. Gruma and Mission will “put their best foot forward” in Russia to attract new consumers, both domestic and foreign. A good showcase.

JUNE 15

ABOUT BOSSES. (EL FINANCIERO 23) … the main indicator of the Mexican Stock Exchange (BMV) (...) yesterday marked seven consecutive days of growth, strategists believe that the market is still lagging and that some issuing companies offer an attractive point of entry ... Santander believes that current prices now reflect outside risks, such as the process of renegotiating NAFTA, political uncertainty, and the normalization of the Fed's monetary policy. They believe it is a good time to buy and made adjustments to their list of favorite issuing companies, “Top Picks,” ... which now includes Gruma, Pinfra, GAP, Cemex, Liverpool y Banorte. Are any of these in your portfolio?

JOSÉ YUSTE / BUSINESS ASSETS. (EXCÉLSIOR 2) Russia-Mexico, what they export. Russia is an energy economy. It has the highest gas reserves in the world, ranks fourth in coal reserves of coal and eighth in oil. Undoubtedly, its main export product is energy, which is exported throughout Europe (...) Mexico’s exports to Russia are products made from the rural economy: meat, tequila, and beer (naturally). However, Russia also buys Gruma tortillas, as well as domestic appliances from Mabe. And of course, several cars produced in Mexico make it to the Russian market. Oddly enough, these days both economies, Russia’s and Mexico’s, are open and are trying to complement one another...

JUNE 18

TRENDS. (EL ECONOMISTA 7) GRUMA. Gruma’s shares have recorded three consecutive weeks of growth. In the week of June 15, the company's share price increased by 2.52% to a price of MXN 232.02.

JUNE 19

GRUMA SHIELDS ITSELF AGAINST TRUMP TARIFFS (LA RAZÓN 15) Gruma will soon be free from the protectionist policies implemented by the United States with regards to foreign imports, due to the fact that it now has an interest coverage ratio of over 12, meaning that any possible increase would not have any significant effect on the company's finances.

TOP 500 COMPANIES IN MEXICO LISTED. (EXPANSIÓN 190-205) (206-216) (228-231) Expansión magazine published its ranking of the “500 Top Companies in Mexico.”Gruma appears in 51st place, and Grupo Industrial Maseca is ranked 166th.... In addition, the publication included Gruma in 51st place in its Top 500 against corruption list, awarding it four out of five stars.Gruma also holds 11th place in the most global rankings...

JOAQUÍN LÓPEZ-DÓRIGA: GRUMA’S IN RUSSIA TOO. (CIRO GÓMEZ LEYVA POR LA MAÑANA) Joaquín López Dóriga: Gruma has just opened a new plant of its global brand Mission in the town of Stupino, near Moscow. The Mexican plant in Russia has state-of-the-art ecological technology, with the highest standards of quality and food safety in the industry. It produces more than 50 thousand tons of wheat tortillas and corn snacks annually, using raw materials and grains that are already grown in Russia...

JUNE 25

GRUMA AMASSES ADDITIONAL OPERATIONS IN TEXAS. (EL FINANCIERO ON LINE 0) The Gruma tortilla producing plant in Dallas, Texas, will begin to generate profits and profitability as of next year, said Rogelio Sánchez, VP Corporate Finance at the company. “The tortilla production plant in Dallas, which will be one of the most efficient in terms of logistics and product distribution on a global level, will begin to demonstrate the benefits of its integration in 2019,” explained Sánchez during the Monterrey Mexican Stock Exchange Institutions (AMIB) meeting... 

JUNE 27

ROBERTO AGUILAR / CORPORATE MOMENT. (EL SOL DE MÉXICO 21) Good opinion piece. HSBC joined the list of areas of stock market analysis that follows the shares of Gruma,the companyheaded by Juan González Moreno, with a recommendation to buy and a target price of MXN 280, as well as potential appreciation of 18% based on the level at which the José Oriol Bosch’s securities on the BMV are currently listed. Thomson Reuters recommends 15 of Gruma’s stocks, of which 10 are recommendations to buy, which validates the growth potential and the position of the company within and outside of Mexico, especially in the United States. The report, which corresponds to the corn flour and tortillas producer’s Q2, will be distributed on July 25.