September 27, 2016 5:35 PM ET

Electrical Equipment

Company Overview of Industrias Unidas, S.A. De C.V.

Company Overview

Industrias Unidas, S.A. De C.V. was founded in 1939 and is based in Jocotitlan, Mexico. Industrias Unidas, S.A. De C.V. operates as a subsidiary of Grupo IUSA, S.A. de C.V.

Boulevard Lopez Portillo 323. Sn Antonio Tecomitl Milpa Alta

Mexico-Queretaro

Mexico, DF 12100

Mexico

Founded in 1939

Phone:

52 55 5671 1952

Key Executives for Industrias Unidas, S.A. De C.V.

Global Support Consultant
Compensation as of Fiscal Year 2016.

Industrias Unidas, S.A. De C.V. Key Developments

Industrias Unidas, S.A. de C.V. Commences an Offer to Exchange its Senior Secured Notes

Industrias Unidas, S.A. de C.V. (IUSA), reported that it has commenced an offer to exchange its outstanding Series A and Series B 11.50% Senior Secured Notes due 2016 for, respectively, its Series A and Series B 9.00% Senior Secured Notes due 2023, subject to certain conditions including the condition that holders of at least 95% in aggregate principal amount of the Old Notes participate in the Exchange Offer. In a release on September 12, the company noted that the New Notes will have substantially the same covenants and other terms and conditions as the Old Notes and will be secured by the same collateral as the Old Notes upon the repayment in full of such Old Notes. The Exchange Offer is being made only to holders of Old Notes (the Holders), pursuant to the Information Memorandum dated September 12, (the Exchange Information Memorandum) and related Letter of Transmittal which set more fully the terms and conditions of the Exchange Offer. The Exchange Offer for the Old Notes is scheduled to expire at 12 midnight, New York City time, on October 7, (the Expiration Date), unless extended by the company, and settlement will occur as soon as practicable following the Expiration Date. For each $1.00 stated face value of each series of Old Notes, tendering holders of Old Notes will, on the settlement date for the Exchange Offer, receive New Notes of the corresponding series with a principal amount equal to $1.00. In addition, tendering holders of Old Notes will, on the Issue Date, receive additional New Notes with a principal amount equal to the amount of interest accrued on the Old Notes from and including August 15, to but not including the settlement date for the Exchange Offer (the PIK Payment). The PIK Payment will be made to tendering holders of Old Notes in lieu of the cash payment of such accrued interest. No other payments, including in respect of principal, interest including accrued or default interest other than the PIK Payment or additional amounts (if any), will be required to be paid to Holders. The principal objective of the Exchange Offer is to refinance the Old Notes and avoid a potential concurso mercantil proceeding in Mexico. The company does not have the means to repay the amounts that are payable under the Old Notes. The Company believes that it is currently not likely to find a material source of financing to fund the interest and principal payments on the Old Notes. The Company believes that the completion of the Exchange Offer is critical to resolving its constrained liquidity and ensuring its continued viability. The company also believes that the Exchange Offer would benefit both Holders and the company by helping the company to avoid contentious litigation that could cause business disruptions or damage to the overall value of its business.

Industrias Unidas, S.A. de C.V. Reports Unaudited Consolidated Earnings Results for Six Months Ended June 30, 2016

Industrias Unidas, S.A. de C.V. reported unaudited consolidated earnings results for six months ended June 30, 2016. For the period, the company’s revenues were MXN 6,531.3 million against MXN 6,841.6 million a year ago. Operating loss was MXN 110.6 million against MXN 69.7 million a year ago. Net loss was MXN 849.5 million against MXN 801.8 million a year ago. EBITDA was MXN 126.6 million against MXN 165.7 million a year ago. The change in net loss was primarily due to a higher comprehensive financial result driven by foreign exchange losses and the Mexican peso depreciation. For the period, the company invested MXN 67.5 million in capital expenditure projects, mainly related to expansion of production and maintenance.

Industrias Unidas, S.A. De C.V. Reports Audited Consolidated Earnings Results for the Year Ended December 31, 2015

Industrias Unidas, S.A. De C.V. reported audited consolidated earnings results for the year ended December 31, 2015. For the year, revenues were MXN 13,888.6 million against MXN 13,582.6 million a year ago. Operating income was MXN 603.1 million against MXN 325.8 million a year ago. Consolidated net loss was MXN 891.3 million against MXN 896.7 million a year ago. EBITDA was MXN 1,104.8 million against MXN 789.8 million a year ago. The change is primarily due to an increase in the Comprehensive financial result, as consequence of the Mexican Peso devaluation. This increase in revenue was due to higher selling prices driven by market conditions and the introduction of certain new products. The company invested MXN 140.3 million in capital expenditure projects, mainly related to expansion of production and maintenance.

Recent Private Companies Transactions

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