Contact Information: TMM COMPANY CONTACT: Juan Fernandez Chief Financial Officer 011-525-55-629-8778 Monica Azar Investor Relations 011-525-55-629-8866 ext. 3421 or 1-917-597-5361 AT DRESNER CORPORATE SERVICES: Kristine Walczak (investors, analysts, media) 1-312-726-3600
Grupo TMM Announces New President
| Source: Grupo TMM
MEXICO CITY--(Marketwire - December 11, 2007) - Grupo TMM, S.A.B. (NYSE : TMM ) (BMV: TMM A)
("TMM"); a Mexican multimodal transportation and logistics company,
announced that Fernando Sánchez Ugarte has been appointed president of the
Company effective January 15, 2008.
Mr. Sánchez Ugarte recently resigned the post of Undersecretary for
Internal Revenue for the Mexican Finance Ministry, a position he held since
December 2006. He has held several positions within the Mexican government
including president of the Federal Competition Commission, undersecretary
of Industry and Foreign Investment and general director of Income Policies.
Additionally, he was a member of the NAFTA ("North American Free Trade
Agreement") negotiating team and served as general Consul for Mexico in
Portland, Oregon. Mr. Sánchez Ugarte holds a PHD in Economics from the
University of Chicago.
José F. Serrano, chairman of Grupo TMM, said, "We are pleased to welcome
Fernando to our executive management team. We believe his broad experience
in public finance, fiscal policies and economic development will be
extremely valuable to TMM's business plan going forward."
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.