Grupo Bimbo: operations in China have more than doubled

Mexico City / MX. (gb) «Our operations in China have more than doubled, and a spectacular effort has been made to introduce the brand and image of the group, with remarkable results», says Roberto Servitje, President of the Board and is pleased to report – once again – that the results of Grupo Bimbo S.A.B. de C.V. during 2007 were very good. In Mexico, a 50 percent partnership was formed with Galletas La Moderna. Grupo Bimbo´s operations in China have more than doubled, and a spectacular effort has been made to introduce the brand and image of the Group, with remarkable results. Servitje believes it is important to report that the company´s plans to acquire the largest baking company in the United States (IBC) were not carried out because its findings in the due diligence period concluded that the operational, labor and financial conditions of the company made the economic viability highly unlikely. Given the large significance of the operation, Grupo Bimbo remains open to any possibility. Similarly, the company is very open to taking advantage of opportunities to expand its international operations – Servitje says in his «Letter from the Chairman of the Board», to read in «Continued growth …», the 2007 annual report (65 pages | 2,14 MB) published in April 2008.
Info: see also «Grupo Bimbo: reports Q4 and year end 2007 results» (bakenet:eu on Thursday, 2008-02-21)