"THE ONLY THING NECESSARY FOR THE TRIUMPH OF EVIL IS FOR GOOD MEN TO DO NOTHING"
--Burke

Thursday, July 29, 2010

Grupo Mexico proposed merger of railroad units

"We are expecting the notification ... of this ruling will be by the end of August," Octavio Ornelas, a director of the company's transportation arm, said on a conference call for investors....'If Cofeco appeals that ruling, then we will spend another six to nine months in order to have a positive ruling so we will have that consolidation ready by the end of the first quarter of next year,' he said....Ferromex and Ferrosur are clustered under Grupo Mexico's transportation division, Infraestructura y Transportes Mexico, or ITM...."

http://www.miningweekly.com/article/grupo-mexico-says-rail-merger-depends-on-regulators-2010-07-29

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