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One of the largest glass manufacturers in the world, Vitro S.A. de C.V. (VTO) produces, processes, distributes and sells a wide range of glass products to a variety of industries. With a special focus on quality and continuous improvement Vitro has implemented a variety of cost-cutting and optimization programs in order to improve its financial situation after the economic downturn. Based out of Monterrey, Mexico, and operating in 10 countries in Latin America, the U.S. and Europe, Vitro has 93% of its debt in USD.
With a 100 year history, Vitro produces, processes, distributes and sells a wide range of glass products to industries like wine and liquor, beer, cosmetic, pharmaceutical, food and beverage, and the automotive and construction industry. In 2008 the CEO Federico Sada G. was replaced by Hugo A. Lara Garcia. Over the last two year Vitro has taken steps to improve it financial position such as divesting non-strategic assets, simplifying the work force and eliminating activities determined to have a non-priority nature.
Sales declined 40% in Glass Containers and 32% in Flat glass. This decrease reflects the high depreciation of the Mexican peso. The cost cutting and productivity programs that Vitro has in place as well as strict cash management control both aim to sustain operations in the long-term. 
==Key Trends and Forces==
The Central Bank of Mexico has been increasingly more concerned witht eh devaluation of the peso fearing consumer price increases and eventually inflation. Though the central bank has cut the lending rate, it has been cautious not to allow an inflationary disaster. Some think that this cautious approach will have a negative effect and eventually weaken the peso further. This has had an effect on the individual in Mexico and the companies in it. 
Especially for the glass industry, rising energy costs have a serious effect on the bottom line.
In an effort to counteract the economic downturn Mexican Development Banks have been in charge of providing liquidity to companies in need of cash.
Coated glass (Low E. glass) and other such energy efficient glasses have a growing demand in North America and Europe. This is especially true in the construction business. 
There has been a significant growth of niche markets: impact resistance for hurricane zones, bomb/blast resistance, new decorative products and acoustic control.
The container industry is mostly dominated by the two above and Saint Gobain has a strong presence in Mexico 
These two are the next largest glass makers in Mexico.