 |
January 14, 2008 |
|
|
|
 |
EMPRESAS ICA: Inks Joint Venture Deal w/ ICA Unit & Controladora Empresas ICA S.A.B. de C.V. has signed a joint venture agreement between an ICA subsidiary and Controladora Garciavelez to establish CasaFlex. This new company will use its own proprietary technology to produce individualized, manufactured housing based on three-dimensional, multifunctional reinforced concrete modules that include basic plumbing and wiring conduits. The housing modules also allow for immediate future expansion. The first production plant will be located in the industrial park of Atitalaquia, Hidalgo. The COP300 million plant will have an initial capacity of 8,000 housing units per year. CasaFlex will principally serve developers of entry level and affordable housing. Empresas ICA -- http://www.ica.com.mx/ -- the largest engineering, construction, and procurement company in Mexico, was founded in 1947. ICA has completed construction and engineering projects in 21 countries. ICA's principal business units include civil construction and industrial construction. Through its subsidiaries, ICA also develops housing, manages airports, and operates tunnels, highways, and municipal services under government concession contracts and/or partial sale of long-term contract rights. As reported in the Troubled Company Reporter-Latin America on Sept. 20, 2007, Standard & Poor's Ratings Services affirmed its 'BB-' long-term corporate credit rating on Empresas ICA S.A.B. de C.V. S&P said the outlook is stable. |
|
|
||
|
Today's Top Stories have been selected from the Troubled Company Reporter - Latin America. To receive the Full TCR-LA please CLICK HERE.
