Mexican producer Vitro saw its Q2 sales go down as a result of a decline in the flat glass market.
Net sales were down 0.6% due to a decline in flat glass sales. The decline was due to price pressure from imports and weaker demand from some US OEMs.
It said its glass container division had a sales increase of 1.1% to $308 million. Beverages and CFT performed very well but the beer sector did not.
Group Ebitda was up 18.6% y-o-y as a result of the glass container division performance.
Vitro CEO Adrian Sada Cueva said there were signs of improvement in the flat glass business on a sequential basis with flat glass sales up 8.8% as it redirected production that was previously targeted to OEMs into domestic and export construction markets.
Mr Sada added the company had won new OEM biddings with an estimated annual revenue value of $40 million that Vitro should start supplying by the end of 2014 and 2015.
