Grupo Carso Honored as Latin Trade's Investor of the Year
Grupo Carso Chairman and America Movil Co-Chair Carlos Slim Domit Accepts 2012
Bravo Business Award on Behalf of Company
MIAMI, Oct. 26, 2012
MIAMI, Oct. 26, 2012 /PRNewswire/ --Grupo Carso, one of Latin America's most
important conglomerates, was named as Latin Trade's Investor of the Year at
its 2012 Bravo Business Awards.
"At a very young age I realized the importance of how business can positively
impact society by generating employment and the responsibility that business
leaders have in helping solve some of the most complex social problems," Grupo
Carso Chairman of the Board Carlos Slim Domit said. "This is part of our
company's philosophy; we are temporary administrators of wealth who must be
efficient and also help achieve positive social impact."
The Slim companies employ about 260,000 people through direct jobs, and an
estimated four times that number in indirect jobs. Working in 30 countries,
the group makes between $11 billion and $12 billion in overall capital
investments each year.
In Mexican telecommunications alone, Slim enterprises have invested $105
billion dollars and make new capital outlays of about $2 billion each year. In
1991, for example, Telcel, an America Movil company, had 35,000 customers -
one third of the cell phone market in Mexico. With its innovative development
of the prepaid model and heavy investment in coverage, capacity and adoption
of new technologies, Telcel grew faster than the competition. Today, America
Movil provides service in 180,000 communities while the closest competitor
serves only 80,000. America Movil is the world's 4thlargest
telecommunications operator by subscribers of its different services.
"Innovations in Mexico and Latin American telecommunications can lead to
important growth in mobile and broadband adoption," Slim Domit said. "That
growth fundamentally changes the economic landscape and opens up worldwide
opportunities for citizens."
Slim Domit pointed out that while the group makes investments outside Mexico,
it uses capital markets so as not to sacrifice capital outlays in Mexican
"We have a system that focuses on finding new ideas, updating processes and IT
systems and training people," he said. "It is important for us to always know
what is happening in the industry, what is happening internationally and
keeping in close contact with our customers."
About Grupo Carso
Grupo Carso is a Mexico-based conglomerate engaged, through its subsidiaries,
in the industrial, retail, infrastructure and construction sectors, as well as
in the automotive industry. Its business is structured in four divisions:
Industrial, which comprises the operations of Grupo Condumex SA de CV, a
manufacturer of electrical conductors mainly used in the telecommunications,
automotive and energy sectors; Retail, which includes the activities of Grupo
Sanborns SA de CV, an owner of department stores, restaurants, boutiques and
music shops; and Infrastructure and Construction, which focuses on the
operations of Carso Infraestructura y Construccion SAB de CV (CICSA), involved
in the development of activities related to the installation of pipelines,
services for the chemical and petroleum industry, building projects, civil
engineering and homebuilding.
About America Movil
America Movilis the leading wireless services provider in Latin America and
the world'sfourth largest mobile network operatorby subscribers of its
various service offerings. A venture ofCarlos Slim, America Movil provides
services to over 319 million mobile subscribers in 18 directly served
About 18^th Annual Bravo Business Awards
Every year, hundreds of thousands of LATIN TRADE readers worldwide nominate a
broad array of Latin American leaders in government, business, finance and
technology, as well as mavericks in environmental and humanitarian fields. The
LATIN TRADE editorial team narrows the list of candidates, consulting with
international executives, government officials and leading academics. Finally,
the editors whittle down the list of finalists and chose the recipients of the
BRAVO Business Awards for their leadership and their contributions to progress
in Latin America.
Now celebrating its 18th anniversary, the BRAVO Business Awards event will
attract 400 leaders–including presidents, business executives and government
ministers from across the Americas in the fall of 2012 in Miami. The
celebration culminates with a black-tie gala to honor the 2012BRAVO Business
Awards winners for their contributions to progress in Latin America and the
SOURCE Grupo Carso
Contact: Tony Martinez, +1-202-787-1545, firstname.lastname@example.org
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