September 2

COMPANIES GO TO THE STOCK MARKET FOR DEBT TO REFINANCE LIABILITIES. (EL ECONOMISTA 17) (EL ECONOMISTA ONLINE)

The long-term corporate debt market expects a better outlook despite the cycle of increases in the reference interest rate published by the Mexican Central Bank. In August alone, eight companies submitted applications to place up to MXN 37 billion through the Mexican Stock Exchange (BMV). August has been the best month this year, reporting MXN 40.462 billion in placements, breaking all records since March 2018, said Banorte’s Director of Market Strategy, Manuel Jiménez. Companies are turning to the market primarily to obtain resources to refinance liabilities and promote their growth plans to a lesser degree.Gruma, the world’s largest producer of corn flour and derivatives, is looking to raise MXN 4.5 billion through a bond it plans to issue on October 7. It will allocate the funds to refinancing liabilities totaling USD 1.713 billion through June this year. The company announced that USD 1.027 billion will mature in 2025.

September 5

Sales outside of Mexico, the key to Grupo Maseca’s Success (Enfoquenoticias.com.mx) (Sdpnoticias.com)

Seventy-three years after the company’s foundation, Grupo Maseca (Gruma) proves that geographic diversification has been key to the company’s success, growth, and financial strength. Thus, although it is a Mexican company, sales in its home county represent 25% of its total revenues since most of its revenues come from its foreign operations, representing 75% of its consolidated figures, which reflect the company’s financial strength thanks to its geographical diversification despite the difficult international economic situation and the surge in the price of corn, said Roberto Solano, Stock Market Analysis Manager at Grupo Financiero Monex.

September 7

THEY WILL PROVIDE FREE CORN TORTILLAS TO FLOOD VICTIMS IN MÚZQUIZ. (LA VOZ DE COAHUILA ONLINE)

With the solidarity the municipality of Frontera has shown to the community in Múzquiz since the beginning of the contingency, they will soon be able to provide free corn tortillas to the families who lost all their belongings. Múzquiz Mayor Tania Vanessa Flores Guerra confirmed that thanks to the support provided by Frontera Mayor Beto Piña and his Economic Development Department, headed by Víctor Martínez, they spoke with Mario Tueme at Grupo Maseca about bringing this project to life by sending the first raw materials and equipment to install a corn tortilla machine yesterday. Fresh corn tortillas will be distributed to the families that lost everything in the recent rains and floods.

September 8

THE UN GLOBAL COMPACT RECOGNIZES THE NUEVO LEÓN COMPANIES JOINING THE SUSTAINABLE AGENDA. (MILENIO ONLINE) (EL ECONOMISTA) (EL HORIZONTE ONLINE (NUEVO LEÓN)

During the Business Meeting for Sustainability held in the state of Nuevo León this Wednesday and Thursday, the United Nations Global Compact said that companies headquartered in this state have adhered to the sustainable agenda with a view to 2030. According to Carlos Mendieta Zeron, interim president of the Global Compact, the number of companies headquartered in Monterrey that have joined this agenda in recent years has gone from five to 74. He said, “just to share a piece of historical data found by the Global Compact, during the first few years, five companies from Monterrey, Nuevo León joined the Global Compact, including CEMEX, Arca, Gruma,Alfa, and Femsa.”

September 12

CHANGING THE BUSINESS ATTITUDE. (LA PRENSA ONLINE)

Several companies positioned themselves as role models in the market by selling products relevant to a certain public at a given time. When they stop innovating, if their products are relevant to current demand, they can fall behind and be replaced without a long-term vision. The problem with this phase is that they become obsolete and lose profitability. They also foster a negative perception of their brands, and 75% of these companies go bankrupt due to the lack of capacity to adapt to new situations. Successful companies are those that set new goals and objectives. Some of these include Cemex, América Móvil, Rotoplas, Gruma, Cinépolis, Mexichem, Bimbo, Grupo Lala, and Grupo México that adopted a strategic vision and implemented their competitive advantages to diversify and position themselves in other markets such as China, India, Morocco, the United States, Spain, Italy, and Brazil.

September 16

FLOOD VICTIMS IN MÚZQUIZ, COAHUILA, RECEIVE HELP FROM MASECA. (MILENIO ONLINE) (SDP NOTICIAS.COM ONLINE)

Maseca installed a mobile tortilla unit(Tortimóvil) to help the victims affected by the severe floods caused by heavy rains and the overflowing Sabinas River in Múzquiz, Coahuila.

September 22

MASECA: WHAT TYPE OF FLOUR IS THIS, AND WHAT DOES IT CONTAIN? (GRUPO FÓRMULA ONLINE)

Maseca is the leading global brand in flour to make tortillas in Mexico and much of the world, as it has succeeded in positioning itself as a synonym of quality and a staple in Mexican diets. According to the official Gruma website, Maseca flour is made with whole and selected corn fortified with B1, B2, and B3 vitamins and minerals, as well as calcium, folic acid, iron, and zinc obtained through the nixtamalization process. It is important to note that the corn flour market, like the Maseca and tortilla market, is very important for the Mexican economy and people living in Mexico because it is a staple in families’ diets nationwide.

September 24

MASECA DEMONSTRATES SOLIDARITY WITH MEXICAN POCKETBOOKS. (SDP NOTICIAS.COM ONLINE) (ENFOQUE NOTICIAS ONLINE) Maseca promised that it would not raise the price of its products until February 2023, given the escalation of costs nationwide for different basic consumer products and services, as announced by President López Obrador, in his daily press conference on Wednesday, September 21, before meeting with Mexican food industry leaders. Maseca president and CEO Juan González Moreno was one of the business leaders summoned to meet with the Mexican President to discuss strategies to support Mexicans and their pocketbooks in light of the inflationary crisis that Mexico and the world are experiencing. Despite Maseca’s commitment, the experts do not believe that the measure will do much to lower the price of tortillas since there are other factors involved in price hikes. In this sense, data from the Agricultural Markets Consulting Group (GCMA) indicate that Maseca is one of Mexico’s main suppliers of corn flour.

September 28

INVESTMENTS. (MILENIO DIARIO 18) (EL NORTE ONLINE (NUEVO LEÓN) (REFORMA ONLINE) (MURAL ONLINE (JALISCO) (EXCÉLSIOR 2) (EL ECONOMISTA ONLINE) (FORBES MÉXICO ONLINE)

Gruma obtains a USD 125 million loan. The world’s largest flour mill and corn tortilla manufacturer, Gruma,presided by Juan González Moreno,obtained a USD 125 million five-year loan from The Bank of Nova Scotia to refinance its liabilities. The company will pay off the loan in a global payment at maturity plus the corresponding surcharge.

September 30

THE 100 MOST IMPORTANT BUSINESS PERSONS IN MEXICO. (EXPANSIÓN PP-68-89)

Expansión magazine publishes a list of “The 100 Most Important Business persons in Mexico,” who must be Mexican and presidents of the boards of directors of the companies they represent. Gruma president Juan González Moreno ranked 16 on the list.