02 August, 2006

Mexico: Femsa says capital expenditures likely to stay at US$750 million in 2007

Officials of Mexican beverages and retail concern Fomento Economico Mexicano SA, or Femsa, said July 31 the company will likely make capital expenditures of $750 million next year, the same as 2006, MarketWatch consequently reported.

In a conference call with analysts, investor relations director Juan Fonseca said Femsa is maintaining its capital expenditure plan for this year at US$750 million - US$350 million for its beer unit, US$250 million for bottler Coca-Cola Femsa (KOF), and US$150 million for Oxxo convenience stores.

Chief Financial Officer Javier Astaburuaga said that "for modeling purposes," a similar amount could be expected in 2007.

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