Industrias Penoles, S.A.B. de C.V. ("Penoles"), in order to clarify the information published yesterday in various media communications concerning investment of $ 11.730 billion pesos in the municipalities of Torreón and General Cepeda, in the state of Coahuila, informs the investing public:
The aforementioned investment amount consists of two projects:
a) Expansion of the zinc plant from 230 thousand tons/year to 350,000 tons/year, in which our subsidiary Metalurgica Met-Mex Penoles, S.A. de C.V. expects to invest $ 324 million dollars (approximately $ 5.610 million pesos) between 2015 and 2018 in the city of Torreon, project which was reported to the investing public through the Council Administration Report Published on April 23, 2015.
b) Investment in a wind farm, which will be built, operated and financed by EDPR (Energias de Portugal Renováveis) Portuguese company through its Mexican subsidiary Eólica de Coahuila, SA de C.V., in which Peñoles will not participate in the risk or the investment in this project, but only as a promoter and customer through signing of a long-term supply contract.
The investment in the wind farm is estimated at $ 360 million ($ 6.120 million pesos at current exchange rate) and will be effected in the municipality of General Cepeda. The project was unveiled through a news release published on April 28, 2014.
This clarification is made at the request of the National Banking and Securities Commission and the Mexican Stock Exchange, with Based on the provisions of the penultimate paragraph of Article 106 of the Securities Market Act.
Original Article: http://www.penoles.com.mx/wPortal/content/conn/UCM/path/Carpetas/www/Inversionistas/Eventos%20Relevantes%20y%20Avisos/Comunicados/eventore_628266_1.pdf
