GRUPO MEXICO
The company was founded by Raul Antonio Escobedo and Larrea Mota Velasco in 1988. After the government of Carlos Salinas declared the state mining company bankrupt, Larrea purchased key Mexican copper mines in Cananea and Nacozari (cities in the state of Sonora). He also purchased numerous other mining sites, including coal mines in the state of Coahuila. By 2000, Grupo México was responsible for 87.5 percent of Mexico's copper production and is the world's third-largest copper producer in the ... world. Grupo México has been in continual conflict with Local 65, the Cananea branch of the Mexican Mine Workers' Union (SNTMMSRM). During miners' strikes in January 2003 and October 2004, Grupo México responded with threats to close the Cananea mines. In 2004, Grupo México has also purchased a controlling interest in the Southern Peru Copper Corporation. Grupo Mexico acquired 54.2% equity interest in Southern Peru Copper Corporation from ASARCO LLC, a mining company operating in the United States. The SPCC equity sale is subject to a litigation between Grupo Mexico and ASARCO pending in the U.S. District Court for the Southern District of Texas under District Court Judge Andrew Hanen. As of September 2009, ASARCO was the focus of a bidding war begun in May 2008 between its own parent company Grupo México and India-based Sterlite Industries. On August 31, 2009, U.S. Bankruptcy Judge Richard Schmidt recommended that U.S. District Judge Andrew Hanen accept Grupo México's $2.5 billion bid for ASARCO as it prepares to come out of bankruptcy.
GRUPO MEXICO
Industry:
Manufacturing Mining Precious Metals
Founded:
1978-01-01
Address:
Mexico City, Distrito Federal, Mexico
Country:
Mexico
Website Url:
http://www.gmexico.com
Total Employee:
10001+
Status:
Active
Contact:
1103. 5000
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Current Advisors List
Current Employees Featured
Founder
Stock Details
Acquisitions List
| Date | Company | Article | Price |
|---|---|---|---|
| 2022-09-02 | Planigrupo | Planigrupo acquired by Grupo Mexico | 4.7 B MXN |
| 2017-03-28 | Florida East Cost Railway | Florida East Cost Railway acquired by Grupo Mexico | 2.1 B USD |
Official Site Inspections
http://www.gmexico.com Semrush global rank: 599.11 K Semrush visits lastest month: 75.92 K
- Host name: CISEXPE1TR.gmexico.com
- IP address: 187.237.135.71
- Location: Zapopan Mexico
- Latitude: 20.6805
- Longitude: -103.4491
- Timezone: America/Mexico_City
- Postal: 45010
