Contact Information: TMM COMPANY CONTACT: Juan Fernandez Chief Financial Officer 011-5255-5629-8778 () Brad Skinner Senior VP, Investor Relations 011-5255-5629-8725 1-203-247-2420 () Monica Azar Manager, Investor Relations 1-212-659-4975 () AT DRESNER CORPORATE SERVICES: Kristine Walczak (investors, analysts, media) 1-312-726-3600 ()
Grupo TMM Expands Its Logistics Services Through Acquisition of Automobile Transportation Assets
| Source: Grupo TMM
MEXICO CITY--(Marketwire - July 25, 2007) - Grupo TMM, S.A.B. (NYSE : TMM ) (BMV: TMM A)
("TMM" or the "Company"), a Mexican multimodal transportation and logistics
company, announced today that TMM Logistics, its wholly owned subsidiary,
has expanded its logistics services by acquiring an important fleet of auto
hauling equipment and operating yards, while simultaneously entering into
long-term contracts with two major auto manufacturers. The acquisition
price for this new business was $36 million.
It is expected that this new business will add more than $40 million of
annual revenue to the Company's Logistics division. With these
acquisitions, TMM Logistics will become one of the largest auto hauling
carriers in Mexico. The Company anticipates that this new specialized auto
hauling business will be supported by existing management, commercial,
information technology and operating capabilities, creating additional
synergies over time.
Javier Segovia, president of Grupo TMM, said, "As with our recently
acquired warehousing operation, this new auto hauling business further
expands TMM Logistics' total service package, providing comprehensive
solutions to shippers within Mexico. This new acquisition reflects
management's commitment to growth, to effectively service our customers
while at the same time providing employment for more than 400 Mexican
families, and will allow TMM Logistics to increase its market leadership in
Mexico."
Headquartered in Mexico City, TMM is a Latin American multimodal
transportation Company. Through its branch offices and network of
subsidiary companies, TMM provides a dynamic combination of ocean and land
transportation services. Visit TMM's web site at www.grupotmm.com. The site
offers Spanish/English language options.
Included in this press release are certain forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. Such forward-looking statements speak only as of the date they are
made and are based on the beliefs of the Company's management as well as on
assumptions made. Actual results could differ materially from those
included in such forward-looking statements. Readers are cautioned that all
forward-looking statements involve risks and uncertainty. The following
factors could cause actual results to differ materially from such
forward-looking statements: global, US and Mexican economic and social
conditions; the effect of the North American Free Trade Agreement on the
level of
US-Mexico trade; the condition of the world shipping market; the success of
the Company's investment in new businesses; the ability of the Company to
reduce corporate overhead costs and the ability of management to manage
growth and successfully compete in new businesses These risk factors and
additional information are included in the Company's reports on Form 6-K
and 20-F on file with the United States Securities and Exchange Commission.