Vitro is Granted Temporary Restraining Order

SAN PEDRO GARZA GARCIA, Mexico, March 12, 2012 /PRNewswire/ -- Vitro S.A.B. de C.V. (BMV: VITROA) announced that the U.S. Bankruptcy Court in Dallas, Texas has granted a temporary restraining order (a "TRO") to preserve the status quo pending the Court's determination of whether to grant Vitro's motion to enforce in the United States its Mexican plan of reorganization, which was consummated in Mexico on February 23, 2012. 

By its terms, the TRO prevents the dissident funds that have been collaterally attacking Vitro's reorganization plan in the U.S. from seeking to collect on judgments and seize assets belonging to Vitro -- in particular, accounts receivable owed from Vitro's U.S. customers.  The Court has scheduled a hearing on the enforcement of Vitro's plan in the U.S. to take place the week of April 9, 2012 and has indicated that it will extend the injunctive relief granted by the TRO, as necessary.  As the Bankruptcy Court stated in the TRO, "a quick final determination of the Enforcement Motion would be in everyone's interest, and preserving the status quo is not adverse to the public interest."

Vitro, S.A.B. de C.V. (BMV: VITROA), is the leading glass manufacturer in Mexico and one of the world's major glass companies, backed by more than 100 years of experience in the industry. Founded in 1909 in Monterrey, Mexico, the company currently has subsidiaries in America and Europe, which offer quality products and reliable services to meet the needs of two different types of business: glass containers and flat glass. Companies of Vitro produce, process, distribute and market a wide range of glass articles which are part of the daily life of thousands of people. Vitro offers solutions for multiple markets including food, drinks, wines, liquors, cosmetics and pharmaceuticals, as well as the architectural and automotive. The company is also a supplier of raw materials, machinery and equipment for industrial use. As a socially responsible company, Vitro implements various initiatives to contribute to improving the quality of life of its employees, providing support to the communities where it has presence, preserving the environment and favoring an ethical and transparent management. For more information, please consult the website: http://www.vitro.com  

This announcement contains statements about future events regarding Vitro, S.A.B. de C.V. and its subsidiaries. While Vitro believes that forward-looking statements are based on reasonable assumptions, all such statements reflect Vitro's current views with respect to future events and are subject to risks and uncertainties that could cause actual results to differ materially from those contemplated in this press release. Many factors could cause Vitro's actual results, performance or achievements to be materially different from anticipated future results, performance or achievements that may be expressed or implied by such forward-looking statements. In particular, completion of the offers described above or the Concurso Plan on the basis described, or at all, is uncertain.  Vitro does not assume any obligation to, and will not, update these forward-looking statements.

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SOURCE Vitro S.A.B. de C.V.