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Synthesis, November 2018
NOVEMBER 4
MEXICO SHOWCASES ITS BEST PRODUCTS AT CHINA IMPORTS EXPOSITION. (EL UNIVERSAL 9) Mexico will put its best cards on the table in agroindustry products, services and manufacturing in the first China International Exposition of Imports (CIIE) that starts on November 5, said ProMéxico Director General Paulo Carreño King. Mexican SMEs generate nearly 80% of jobs in Mexico and are responsible for close to 90% of exports that are not intra-company, which is why it is important to create conditions for them to sell more by taking advantage of spaces such as CIIE, he said. “Large Mexican companies such as Nemak, owned by Grupo Alfa, Gruma, and Grupo Bimbo arrived in China some time ago, and now the time has come for ProMéxico to support small and medium-sized enterprises,” he added.
NOVEMBER 5
Promotion of C-LM as a filming location or its Manchego cheese, among the goals of the Board’s trip to the US and Mexico https://www.20minutos.es/noticia/ A working breakfast will also be held in Mexico, to present Castilla-La Mancha as a destination for investment and for the productive implementation of Mexican companies in Spain. Close to 50 companies have confirmed their attendance, including consulting and law firms, promotional offices and other agents involved in managing the implementation of the project at the international level, where Mexican companies implanted in Castilla-La Mancha, such as CEMEX and GRUMA will tell the Mexican attendees of the benefits about investing in the region.
NOVEMBER 6
GRUMA, OWNED BY JUAN GONZÁLEZ MORENO, A WORLD-CLASS MEXICAN COMPANY. (ECONOMIAHOY.MX 0) In the constant pursuit for excellence in their products, Gruma has obtained various certifications in Mexico, the United States, Europe, Asia, and Oceania. Its processes are audited and certified by COFEPRIS, the Federal Commission for Protection from Health Risks, the American Institute of Baking, and ISO international standards. The plants that Gruma operates both in Mexico and abroad have been built with world-class food safety quality standards. For example, the plant that the company recently opened in Russia was built with state-of-the-art ecological technology, while its plant in Dallas, Texas, also features strong levels of sustainability with its ecological equipment that guarantees environmental sanitation control in its processes.
NOVEMBER 7
THE RANKING. (EXPANSIÓN 106-121) Expansión magazine publishes its Corporate Integrity 500 (IC500) ranking, a joint initiative implemented by Mexicans Against Corruption and Mexican Impunity and Transparency that confirms the existence and evaluates the quality of anti-corruption policies of the 500 largest companies with a presence in Mexico. Gruma was ranked number 80 (74.5) after climbing 191 positions, with a 45.1 score; Afore XXI Banorte was ranked 233 (58.8); GF Banorte 246 (56.9); Casa de Bolsa Banorte 262 (54.9); Seguros Banorte 262 (54.9); Pensiones Banorte 262 (54.9); GF Interactions 340 (31.4); AM Resorts 393 (2.0), and Grupo Hermes was ranked 393 (2.0).
NOVEMBER 8
GANE PROMOTES MEXICO-CHINA COOPERATION. (EL NORTE (ONLINE) 0) http://www.jornada.com.mx The High-Level Business Group between China and Mexico, known as GANE, for its acronym in Spanish, agreed to leverage cooperation opportunities between both countries, improve working mechanisms and strengthen daily communications and the exchange of information on projects to expand cooperation in the energy, telecommunications, infrastructure, and finance sectors. The meeting, held in Shanghai in the framework of the first China International Import Expo, was chaired by Lin Jingzhen, Vice President of the Bank of China, and Constantino Flores, the President of Operations in Asia for Gruma, both GANE members...
NOVEMBER 9
PREDOMINANT AGRO TRADE WITH CASTILLA-LA MANCHA. (REFORMA 7) (LA JORNADA 17) (EL ECONOMISTA PP-39) Vegetables, cheeses and other agri-food products are the main merchandise traded between Mexico and Spain’s autonomous community Castilla - La Mancha. Beverages, except juices, including malt beer and other liqueurs, are the main product that Mexico sends to the region, with 37% of total exports in 2017, according to information published by the State Secretariat of Commerce of Spain. In like manner, Mexican agri-food companies, such as Bimbo and Gruma, have production plants in Castilla-La Mancha, said the Regional Minister of Economy, Business and Employment, Patricia Franco.
NOVEMBER 12
TRENDS. (EL ECONOMISTA 7) Gruma makes it through. Shares of the world’s largest corn flour and tortilla producer were up 6.92% at MXN 235.33, as last week’s best performer on the S&P/BMV Index sample. The issuer’s market value was up MXN 6.542 billion between November 5 and 9, representing 6.92% growth, which ended the week with an MXN 100.929 billion capitalization value. The company’s papers so far this month report 7.18% in gains...
NOVEMBER 13
BUY / MAINTAIN / SELL. (FORBES MEXICO 22) Maintains. Gruma. Its performance in all of its markets maintains its upward trend, primarily in the United States and Europe ... 54% of Gruma revenues come from the U.S., followed by Mexico with 28%.
NOVEMBER 16
BUSINESS COUNCIL TO ADVISE AMLO. (EL ECONOMISTA PP. 26-27) (EL SOL DE MÉXICO PP. 4) (MILENIO NEWS (9-9:30 PM) Mexico President-Elect, Andrés Manuel López Obrador, announced that he will allow one business advisory council to accompany him during his government. He said that he will meet with them every two to three months to listen to their comments on economic policy, in order to ensure a 4% annual economic growth, generate jobs and ensure the welfare of the nation’s entire population. The businessmen he will receive advice and counsel from Ricardo Salinas Pliego, Bernardo Gómez, Olegario Vázquez Aldir, Carlos Hank González, Daniel Chávez, Miguel Rincón, Sergio Gutiérrez, and Miguel Alemán, Jr. Carlos Hank González (the State of Mexico, 1971). President of Grupo Financiero Banorte, Vice President of Gruma, and CEO of Grupo Hermes ...
NOVEMBER 23
MARIO MALDONADO / BUSINESS STORIES. (EL UNIVERSAL 5) ... Last week, Andrés Manuel López Obrador announced the creation of a Business Advisory Council that will begin operations on December 1, be coordinated by the future head of the Office of the President, Alfonso Romo. Its members include Ricardo Salinas Pliego, of TV Azteca, Elektra, and Banco Azteca; Bernardo Gómez, executive co-president of Grupo Televisa; Olegario Vázquez Aldir, CEO of Grupo Empresarial Ángeles; Carlos Hank González, president of Grupo Financiero Banorte, vice president of Gruma, and CEO of Grupo Hermes; Daniel Chávez, CEO of the Vidanta Hotel Group; Bio-Pappel owner Miguel Rincón; DeAcero CEO Sergio Gutiérrez; and Miguel Alemán Magnani, executive president of Interjet. The new Advisory Council members are outside of the Mexican Business Council that was very powerful until recent dates (...) The case of Carlos Hank González and Miguel Alemán Magnani are unique. Both come from ultra-PRI families but gave the benefit of the doubt to AMLO during his campaign. Furthermore, roots in Banorte and Gruma’s impact on the new agricultural food policy favored Hank...
NOVEMBER 26
HIROSHI TAKAHASHI / EL ESPECTADOR (THE SPECTATOR). (EL SOL DE MÉXICO 7) Mexico earns Safe Quality Food Certification. After years of work, on Monday, November 26, Mexico became one of the few countries certified for delivery of the Safe Quality Food (SQF) accreditation, so the food sector has started to get a glimpse of the benefits that this will bring. By joining Australia, Canada, and the United States, our country will be able to reduce costs, since it will not be necessary to transfer specialists from other latitudes to attest that the food has the quality and safety required at the international level, thanks to the fact that Mexican Accreditation Entity (EMA), chaired by Jesús Cabrera and directed by Maribel López, obtained the endorsement to verify these processes ... We are talking about companies like American Beef, B&G Foods México, Bachoco Comercial, Barcel, Comercializadora Frutipack, Jugomex, Kellogg’s, Lala, Maseca, Sigma Alimentos, Sonora Agropecuaria, The Hershey Company, and Walmart, among others...
NOVEMBER 27
THEY DESIGN PORTFOLIO BASED ON AMLO PREFERENCES. (REFORMA 8) (EL NORTE (ONLINE) 0) (FINANCIAL APPROACH) Citigroup presented two different portfolios of Mexican shares to play during the incoming president Andrés Manuel López Obrador’s (AMLO) administration, according to strategist Julio Zamora. The AMLOVE basket for those who believe that AMLO will be fiscally responsible and non-interventionist: basket shares include ASUR, BanBajío, Banorte, Gruma, Grupo México, IEnova, Liverpool, OMA, Pinfra, and Santander México.
THESE ARE THE COMPANIES THAT WON (AND LOST) THE MOST ON THE MEXICAN STOCK EXCHANGE (BMV) DURING THE PRESIDENTIAL ADMINISTRATION https://expansion.mx/empresas Of the 145 issuers listed on the BMV, those that recorded the highest profits—without counting those with low securitization—during this six-year presidential term were Rassini, with a +900% increase; Gruma, with more than 500% growth, and Vitro, with 210% gains...
NOVEMBER 29
ISSUERS BUY BACK SHARES. (EL ECONOMISTA PP. 1-8) Of the 35 companies listed on the main stock market index of the Mexican Stock Exchange (BMV), the S&P/BMV IPC, 17 have used their stock buyback fund so far this year. They have disbursed just over MXN 5 billion to buy back 133.4 million of their own shares. The companies that have used a higher percentage of their resources authorized for this strategy this year include bakery Bimbo, financial company Gentera, and tortilla producer Gruma, with 30.3%, 17.6%, and 13.6%, respectively ...Gruma has followed the same strategy by using close to MXN 340 million from its MXN 2.5 billion fund to buy back nearly 1.5 million shares.
NOVEMBER 30
SIX-YEAR TERM LOST FOR MEXICAN PESO AND STOCK EXCHANGE. (EL ECONOMISTA PP. 1-8-9) If you had invested one Mexican peso in the main Mexican Stock Exchange (BMV) indicator six years ago yesterday, you would have earned only 19 Mexican cents. On the other hand, if you purchased shares from an issuer like Gruma, you would have earned close to MXN 558...
CITI AND JP MORGAN RECOMMEND THE FOLLOWING SHARES TRADED ON THE STOCK EXCHANGE. (EL FINANCIERO 16) After nearly five months of a political transition with a high stock market volatility, the investment teams of different banks selected Mexican issuers that could offer attractive earnings and others that could be affected during the first year of the Andrés Manuel López Obrador administration. Julio Zamora, director of strategy for Citigroup Global Markets in Mexico, said that the future president-elect is fiscally responsible and a non-interventionist, and has a strategy called AMLOVE made up of Banco del Bajío, Banorte, Gruma, Grupo Aeroportuario del Sureste (ASUR), Grupo México, IEnova, Pinfra, El Puerto de Liverpool, and Banco Santander shares.
Promotion of C-LM as a filming location or its Manchego cheese, among the goals of the Board’s trip to the US and Mexico https://www.20minutos.es/noticia/
A working breakfast will also be held in Mexico, to present Castilla-La Mancha as a destination for investment and for the productive implementation of Mexican companies in Spain. Close to 50 companies have confirmed their attendance, including consulting and law firms, promotional offices and other agents involved in managing the implementation of the project at the international level, where Mexican companies implanted in Castilla-La Mancha, such as CEMEX and GRUMA will tell the Mexican attendees of the benefits about investing in the region.
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