Company Overview of Industrias Unidas, S.A. De C.V.
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, DF 12100
Founded in 1939
Key Executives for Industrias Unidas, S.A. De C.V.
Global Support Consultant
Compensation as of Fiscal Year 2017.
Industrias Unidas, S.A. De C.V. Key Developments
Industrias Unidas, S.A. De C.V. Reports Audited Consolidated Earnings Results for the Year Ended December 31, 2016
May 4 17
Industrias Unidas, S.A. De C.V. reported audited consolidated earnings results for the year ended December 31, 2016. For the year, revenues increased 19.0% MXN 16,528.1 million this increase was due to a 4.2% growth in volume sales of copper products and better sales margin, driven by market conditions against MXN 13,888.6 million a year ago. Operating Income increased 81.5% to MXN 1,094.5 million against MXN 603.1 million a year ago mainly due to an increase in revenues. Consolidated net loss was MXN 388.2 million against MXN 891.3 million a year ago. EBITDA was MXN 1,665.9 million against MXN 1,104.8 million a year ago. This change is primarily due to an increase in operating income, driven by better margins in the sale of products and a decrease in operating expenses. For the twelve months ended December 31, 2016, the company invested MXN 200.6 million (USD 9.7 million) in capital expenditure projects, mainly related to expansion of production and maintenance.
Industrias Unidas, S.A. de C.V. Announces Extension of Expiration Date of Exchange Offer
Oct 10 16
Industrias Unidas, S.A. de C.V. ("IUSA" or the "company") announced that it has extended the expiration date of its pending exchange offer for any and all of its outstanding series A and series B 11.50% senior secured notes due 2016 for its new series A and new series B 9.00% senior secured notes due 2023. The company is extending the expiration date of the exchange offer from 12:00 midnight, New York City Time, on October 7, 2016 to 5:00 P.M., New York City time, on October 24, 2016. Epiq Corporate Restructuring, the information and exchange agent for the exchange offer has advised the company that as of 12:00 midnight, New York City Time, on October 7, 2016, 92.7% of old notes had been validly tendered and not validly withdrawn pursuant to the exchange offer. The New Notes have not been registered under the Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements, and will therefore be subject to substantial restrictions on transfer. The company intends to rely on Section 3(a)(9) of the Securities Act to exempt the offering, issuance and distribution of the new notes and the subsidiary guarantees thereunder pursuant to the exchange offer from the registration requirements of the Securities Act and of any state securities or "blue sky" laws.
Industrias Unidas, S.A. de C.V. Commences an Offer to Exchange its Senior Secured Notes
Sep 20 16
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.
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