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Synthesis, of news related to Gruma. November 3th 2013
November 1st 2013
DIVERSIFICATION IS THE WAY (EL ECONOMISTA 1-8-9) América Móvil, Alsea, Cemex, Genomma Lab and Gruma are just a few examples of companies that reported better quarterly sales overseas than in Mexico. The analysts consulted on the subject matter say there are several reasons for this situation, noting the economic slowdown in Mexico, consumer caution and severe weather conditions in September.
November 4th 2013
THE SLOWDOWN HITS MEXICAN COMPANIES LISTED ON THE NYSE (EL FINANCIERO 22) Mexico’s economic weakness and market volatility have reduced the performance of the 16 Mexican companies listed on the New York Stock Exchange (NYSE). Slower economic growth in Mexico and abroad and delayed spending have also been reflected in Mexican companies operating in the New York market so far this year. Of the 16 American Depositary Receipts (ADRs) listed in New York, nine have accumulated losses, led by Homex that fell 85%, and ICA down 26%. On the other hand, Gruma has moved forward with an accrued 126% and Bachoco with its 46%. América Móvil, Femsa, Cemex, Gruma, Televisa and the three Mexican airport groups, among others, comprise the list of the 16 Mexican companies listed on the NYSE through ADR programs.
November 5th 2013
VENEZUELA MEXICO RELATIONS HIGHLIGHTED (REFORM 9) (EL UNIVERSAL 10) The Minister of Popular Power for Foreign Affairs of Venezuela, Elias Jaua Milano, said the relationship between Mexico and Venezuela is already normalized. After an official visit that the Ministry of Foreign Affairs qualified as a relaunch of bilateral relations, the South American Chancellor said the approach came with the election of Enrique Peña Nieto as President. The Government of Venezuela expects to settle the dispute with the Mexican company Grupo Maseca (Gruma), which was expropriated in 2010 and filed an arbitration claim with the World Bank last June. Chancellor Elías Jaua assured that they never acted in an effort to affect Mexicans, but this was because of a Venezuelan partner who had engaged in malicious acts against the Boliviarian Republic. “We have proposed, in agreement with Gruma to constitute a joint venture between Venezuelan shares and the shares of the Mexican company. It is a process that has been delayed but that the President (Nicolas) Maduro has instructed the financial vice-president, Rafael Ramirez, to resolve the issue the end of this year,” he affirmed.
MAURICIO FLORES / PEOPLE BEHIND THE MONEY (LA RAZÓN 17) It is almost miraculous being that the Tapachula airport has the most expensive Airport Fixed Fee in Mexico, and Aeroméxico, led by Andrés Conesa, and the Manuel Velasco administration with working with Senator Luis Armando Melgar to reopen the route from this border city to serve Guatemala. Connectivity between the two locations is key to integrating “The Mayan World” tourist route, but also because between Mexico and the country governed by Otto Pérez have bilateral trade valued at 2.4 billion U.S. dollars annually, “an amount exceeding trade with Russia, South Africa and New Zealand together,” said Enrique Peña as some of Mexico’s leading countries are working in Guatemala such as Gruma, led by Juan González Moreno; Cemex, led by Lorenzo Zambrano; Bimbo, led by Daniel Servitje, Femsa, América Móvil and Movistar.
November 7th 2013
INVESTMENTS (MILENIO DIARIO 22) Next week the Fire of Life Award given by The Entrepreneur’s Hall of Fame, a program sponsored by nonprofit organization Impulsa, will be given to four major national investors including Miguel Alemán Velasco, President of Interjet, and Ambra Fayad, of Farmacias Especializadas with post-mortem awards for Moses Kalach of Kaltex, andRoberto González Barrera,former president ofGrumaand Banorte. These awards are given to people who make it possible to implement a project, create job and create wealth with social content..
2009-2012 (QUIÉN 110) Quien 50 was created as creating an inspiring edition to recognize those who accomplish extraordinary feats and walk the second mile to transcend limits in everyday living. The last Quién 50 edition featured Roberto González Barrera and Guillermo Ortiz, among others.
HALFHEARTED RESULTS (EXPANSION 110) One year before NAFTA, Mexico exported US $63 million more in agricultural products that it imported. Trade liberalization increased the food supply available in Mexico, says Luis de la Calle, a member of the team involved in the NAFTA negotiations and co-author of the Clasemediero [Middle Classism] book. “Large companies flush with capital go to foreign markets or integrate consolidation processes, probably through of expanding even before then,” said Banorte analyst Marisol Huerta. “But NAFTA helped them achieve their goals as they joined the globalization discourse.” The Bimbo baking company and tortilla maker Gruma expanded to the United States and are now considered true multinationals.
GRUMA SHARES REPORT HIGHER EARNINGS (EL NORTE)Gruma’s share price has skyrocketed in one year with a reported 148% growth, going from 36.3 to 89.95 pesos in that period. Its value had reached a record low back in 2009 for a 3.67 pesos level. Yesterday (Monday), its share price closed at 89.95 pesos, 22% higher than just one month ago
November 11st 2013
FIBRAS, THE QUARTERLY WINNERS (EL UNIVERSAL 4) (LA CRÓNICA DE HOY 23) (24 HORAS 24) The FIBRAS Investment Real Estate Trusts reported the issuing company winners in the third quarter, beating market expectations, said Banco Ve por Más (BX+). Stock Market Analysis Deputy Director at BX +, Rodrigo Heredia, said that some of the best issuing companies include Fibra INN and Fibra Uno, plus Alsea, Lenova, Bimbo, Santander Mexico,Gruma, Inbursa, Grupo Carso and OHL Mexico.
CAPITAL MARKETS (EL ECONOMISTA 7) GRUMA. The Venezuelan government reached an agreement to create a joint venture, after the Mexican company filed a claim against that country with the International Court for expropriating its production plant.
November 12th 2013
INSUFFICIENT DEFENSES (PODER Y NEGOCIOS 66-67)People gradually stop buying expendable goods in an economic downturn, but still consume basic products, such as bread and tortillas. Production of basic food consumption holds certain anti-crisis defenses. Return on invested capital (ROIC) of the global average of all companies comprising this supply chain did not decline in 2009, the year of the great global economic recession. On the contrary, it had a slight increase: it went from 11.7% in 2008 to 12.7% in 2009 (an increase driven by bakeries and confectioneries, because there was a drop in the mills), according to calculations made using data from S&P Capital IQ. Following global averages, industry profits in Latin America fell between 2009 and 2013, from 14% to 7%, and an example was Bimbo, whose ROIC rate fell from 12% to 7% in that period. Gruma however, it was one of the few companies considered to be in the middle of the region that increased its ROI from 8.3% in 2009 to 8.9% in the last 12 months reported in 2013.
November 15th 2013
THEY RECOGNIZE THE BEST COMPANIES TO WORK FOR (Milenio.com) Great Place To Work Mexico recognized the best companies to work for in the country's northeast, ranking Monterrey Gruma in the top position in the category of companies with more than 1,000 employees.
November 18th 2013
THE ENTREPRENUER’S HALL OF HAS FOUR NEW INDUCTEES (MILENIO DIARIO 34) Since 1993, Impulsa, a non-profit organization has recognized people who have managed to implement a project, create jobs and wealth with social content through the Entrepreneur’s Hall of Fame. This year's Fuego de Vida (Fire of Life) award went to Miguel Alemán Velasco, Chairman of the Board of the Interjet Airlines and Ambra Fayad Said, who founded Farmacias Especializadas 35 years ago, with post-mortem awards for the lateRoberto González Barrera, who founded Molinos Azteca in the forties, the powerful forerunner of the company now known asGrupo Maseca(Gruma) and who in 1992, along with other investors, bought Grupo Financiero Banorte, and for Moisés Kalach Alfie, who started the Kaltex textile consortium with his siblings. It has been said that Tortilla KingRoberto González Barrera not only built a great company, but exported Mexico’s culture to the world, to then also become the strong Mexico banker. His eldest daughterMayra González Moreno received the award for the family.
November 19th 2013
TORTILLAS, BREAD AND REFRESHMENTS GO GLOBAL (REFORMA pp) (EL NORTE 0) Within a decade, three Mexican companies went out to conquer the world, and they did. With different strategies, the Mexican industrial groups,Bimbo, Maseca(Gruma) and Coca-Cola Femsa (Kof) saw its overseas sales take off to the point that it became a world leader in its line of business. In fact, its income abroad has already surpassed its domestic revenues. Through acquisitions or construction of new units, these companies now have most of their plants overseas. In the same period of 10 years, Bimbo increased its total sales to 173.1 billion pesos, that is to say, 319%, of which 39.8% correspond to Mexico and 60.2% represent sales abroad; however,Grumawas not far behind, as its sales grew 235% going from 19.1 64.3 billion pesos, of which only 35.2% came from Mexico, and the remaining 64.8% from other countries.
November 21st 2013
BUSINESS RECOGNITION (EL UNIVERSAL 1-40-42) Impulsa, Member of JA Worldwide, since 1993, awarded the prize “Fire of Life” to Mexican entrepreneurs who create jobs and support projects with social responsibility. The institution gathered in the hotel Camino Real Polanco the most important business sector of the country to honor and deliver the awards during a gala dinner to Miguel Alemán Velasco of Interjet, Ambra Fayad Said of Farmacias Especializadas, Roberto González Barrera (RIP) of Gruma and Moisés Kalach Alfie (RIP) of Kaltex, four outstanding businessmen who contribute to Mexico’s social development.
November 22th 2013
AWARDS. (EL SOL DE MEXICO 1) Miguel Alemán Velasco, Ambra Fayad Said, Roberto González Barrera and Moisés Kalach Alfie – last two “in memoriam” – were named as inductees to the Hall of Businessmen, earning the “Fire of Life” award delivered in a moving ceremony.
WORKING TO END PREJUDICE AGAINST IMMIGRANTS, NORMA ROMERO (EL FINANCIERO 2-37) “It is an honor, it is truly beautiful, I really did not expect it, but the prize is not for me, I dedicate it to immigrants and their right to life.” This was Norma Romero Vásquez’s exciting reaction when the CNDH informed her that she had won the 2013 National Human Rights Award for her outstanding track record in effectively promoting and protecting the human rights of immigrants, as the coordinator of the Las Patronas (The Females Bosses) humanitarian group that receives aid from several universities like the Ibero and the Universidad Veracruzana who come to see the project and then help us raise money. Needless to say, several foundations help us out, not to mention the help we receive from companies in the private sector, such as Maseca that gives us 30 bundles of tortilla dough each month. It is a true group endeavor.
25 de Noviembre 2013
TRENDS AND SIGNALS (THE ECONOMIST 7) Corn processor Gruma reported a 235% increase in sales over the last ten years, from 19.1 to 64.3 billion pesos, although only 35.2% of this growth came from Mexico with the remaining 64.8% from other countries.
26 de Noviembre 2013
UP AND DOWN MARKET (FORBES MEXICO 4-20) Winners. Juan Antonio González Moreno +19.08%. Market value of Gruma: 31.7 billion pesos. The company surprised the market with its great Q3 results and its good performance has been rewarded by the Investors. Its share value reported a 100% growth in the last 12 months.
ISSUING COMPANIES WIN OUTSIDE OF THE COUNTRY(EXCÉLSIOR 1-3 PRIMERA DINERO). América Móvil, FEMSA, Alfa, Cemex, Bimbo, Genomma Lab, Grupo Mexico, Chedraui, Gruma and Alsea are companies that decided they should earn most of their income from other markets instead of relying only on the Mexican market. These are the Mexican companies that receive more resources from their operations in other countries, with an average of 57% sales from abroad. Also the world’s most important manufacturer of tortillas, Gruma has a strong position abroad. It is sufficient to note that in countries like the United Kingdom, it holds 40% of the wraps market.
DOES THE MEXICAN STOCK EXCHANGE (BMV) OFFER AN OPPORTUNITY TO BUY? (MEXICO FORBES 160) The Mexico Moment was experienced by the Mexican Stock Exchange (BMV): an instant. As soon as the year began, on January 28th, the CPI hit a record high of 45,912.51 points and they began to fall and never regained that level. Its performance in October was negative at around 6% in U.S. Dollars. The Mexico Moment of the Mexican Stock Exchange (BMV) was as ephemeral as most emerging stock markets, especially in Latin America. Cemex, which in the year has advanced 18%, still looks like an attractive option while Gruma, the world’s largest corn tortilla producer came in with the best CPI share this year with a 116% rally.
MONTERREY INVESTMENTS LEAD IN THE USA (NORTE 0 In the past 10 years, Monterrey business persons have opened the checkbook to invest in the U.S., so much so that in that period 40% of Mexican investment in this country comes from Nuevo León. Gruma opened its plant number 30 in the United States in the State of Florida at the end of 2012, where it invested US $26 million, while Katcon built an automotive components plant in Michigan last year, as well.
27 de Noviembre 2013
CORPORATES LOSE VALUE (Excelsior). So far this year, the market value of the top companies in the Mexican Stock Exchange has fallen on average 7.73%, reflecting the economic slowdown and individual factors. The three companies that have lost the strongest market value in 2013 include Peñoles, Mexichem and Alpek. However, other companies managed to increase their value despite market challenges. So far this year, flour producer Gruma has moved forward 117.74% thanks to its strong results and focus on improving its operations despite the economic challenges faced in the markets where it does business.
28 de Noviembre 2013
MEXICO AND UNITED KINGDOM WILL DOUBLE THEIR TRADE (EL FINANCIERO 13) (EL NORTE 0) (MILENIO DIARIO 12) (CAPITAL DE MÉXICO 5) British investors are not concerned about Mexico’s new tax regime, on the contrary, they are still interested in investing in this county, such as in the energy sector, said the British ambassador to Mexico, Duncan John Rushworth Taylor after listening to Juan Pardinas Carpizo, director of the Mexican Institute for Competitiveness (IMCO) speak on the State Budget Information Index. He noted that there are also Mexican investors interested in investing in that European country, such as Gruma and Cemex.
29 de Noviembre 2013
RAFAEL URQUÍA / FAMILY ADVICE (EL ECONOMISTA 17) This has not been the year of the emerging markets, including the Latin American region. Until the end of October, the MSCI Latam Index was down 9.0% against the 16.6% growth recorded in global markets and the even higher 23.1% rate reported by the S&P 500 (all profits mentioned in this article are in U.S. dollars with figures through October, unless stated otherwise). Growth forecasts for the region were revised downward throughout the year as a result of a variety of factors, including certain missteps in government actions. People who view the region through indexes lose sight of the fact that some shares have reported extraordinary gain and actually surpassed many companies listed on the S&P 500. Some examples include Gruma, the leading corn flour producer in North America with its 126.5% yield; Panama’s low cost carrier Copa, with 51.2%, and Brazil company Kroton with 33.0%.
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