Mexico Railway Operator Ferromex Sees 2010 Sales At $1.17 Billion
08 12월 2010 - 6:29AM
Dow Jones News
Mexican railway concern Ferromex, a unit of mining and railways
firm Grupo Mexico (GMEXICO.MX), said it expects to close 2010 with
record sales of $1.17 billion, up from with $1.08 billion in
2009.
The increase in sales comes on the back of a 20% rise in railway
volume from 2009, due in part to the global economic recovery, the
company said in a press release.
Ferromex operates Mexico's largest railroad with a network of
8,110 kilometers. Grupo Mexico has a 55.5% stake in the company,
followed by Union Pacific with a 26% stake and local conglomerate
Grupo Carso with a 18.5% share.
Ferromex invested $134 million in 2010, the press release
said.
Grupo Mexico's locally traded B shares were recently up 2.7% at
46.67 pesos ($3.75).
-By Paul Kiernan, Dow Jones Newswires; (5255)5980-5178,
paul.kiernan@dowjones.com
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