The railroad deal that couldn't go through
HEADNOTE
reigns on Mexico's railroad scene now that the majority shareholders of Transportation Ferroviaria Mexicans (TFM) (www.tfm.com.mx)- Jose Serrano, chairman and CEO, and Javier Segovia, president - have backed away from what had been deemed a done deal.
Across the border
HEADNOTELegal arguments and financial manuevers block creation of the NAFTA Rail
MEXICO CITY-Bewilderment
The two had agreed to sell their shares to TFM's partner, U.S.-based rail company Kansas City Southern (KCS) (www.kcsi.com), and a new concept in North American rail connections was to have been born - NAFTA Rail. After the deal fell through, KCS immediately filed a preliminary injunction to force the sale.
Logistics Today has sought an explanation from Serrano and Segovia, to no avail. They seem to have locked themselves up in their ivory tower in southern Mexico City. At this point, they will only respond to a court mandate.
In addition, make sure to read these articles:
- Review & Preview.
- Intermodal modification in Mexico
- Mexico's Northeast railway and carries more that 40% of the republic's rail cargo.
- Grupo TMM Completes First Step of Strategic Program for Enhancing and Accelerating Value...
- Grupo TMM To Report First-Quarter Earnings May 20; Conference Call On May 21 To Be...
- Grupo TMM Updates Progress Regarding VAT Award.
- Grupo TMM Announces Dates for First Quarter 2005 Earnings and Conference Call.
- Grupo TMM Announces Dates for Second Quarter 2005 Earnings and Conference Call.
- Grupo TMM to Report First Quarter 2004 Earnings April 29, Host Conference Call April 30.
- Grupo TMM'S Board of Directors Terminates Transaction for Sale of Its Interest in Grupo...
- Grupo TMM Announces Dates for Third Quarter 2004 Earnings and Conference Call.
- Grupo TMM Stockholders Do Not Approve Grupo TFM Sale.
- Grupo TMM Comments On Injunction Filing.
- TMM Ports and Teminals Approved for Berth and Yard Position Expansion At Manzanillo.
- Grupo TMM Announces Dates for Third Quarter 2005 Earnings Release and Conference Call.
SEPTEMBER 13-19 Slowdown Reported: Dockworkers at the Port of Long Beach began a work slowdown that may disrupt cargo shipments to retailers and other businesses....
HEADNOTE South of the Border Mexico's largest intermodal operator, TMM Group (www.tmm.com.mx), is undergoing dramatic changes due to an acute financial crisis that it seems ......
Mexico's Northeast railway and carries more than 40% of the republic's rail cargo. Mexico City-based Grupo TMM also announced that it had begun importing liquid ......
MEXICO CITY -- Grupo TMM, S.A. (BMV: TMM A and NYSE: TMM) today announced it has closed the sale of its interest in Grupo ......
Business Editors MEXICO CITY--(BUSINESS WIRE)--May 7, 2003 Grupo TMM, S.A. (NYSE:TMM), the largest Latin American multi-modal transportation and logistics company, will publish first quarter results ......
Business Editors MEXICO CITY--(BUSINESS WIRE)--Jan. 20, 2004 Grupo TMM, S.A. (NYSE:TMM)(BMV:TMM A, "the Company"), announced that in compliance with the August 13, 2003, Mexican Federal ......
MEXICO CITY -- Grupo TMM, S.A. (BMV:TMM A)(NYSE:TMM) will publish first-quarter 2005 financial results on Thursday, April 28, 2005, after the close of trading ......
MEXICO CITY -- Grupo TMM, S.A. (BMV:TMM A) and (NYSE:TMM) will publish second-quarter 2005 financial results on Thursday, July 28, 2005, after the close ......
Business Editors MEXICO CITY--(BUSINESS WIRE)--April 16, 2004 Grupo TMM, S.A. (NYSE:TMM) will publish first-quarter 2004 financial results on Thursday, April 29, 2004, after the close ......
Business Editors MEXICO CITY--(BUSINESS WIRE)--Aug. 25, 2003 Grupo TMM, S.A. (NYSE:TMM)(BMV:TMM A) ("TMM" or the "company") announced that, as a result of the unanimous vote ......
MEXICO CITY -- Grupo TMM, S.A. (NYSE:TMM) will publish third-quarter and first-nine months 2004 financial results on Thursday, October 28, 2004, after the close of ......
Business Editors MEXICO CITY--(BUSINESS WIRE)--Aug. 18, 2003 Grupo TMM, S.A. (NYSE:TMM) and (BMV:TMM A)("Grupo TMM" or the "Company") announced that, at the Company's General Ordinary ......
Business Editors MEXICO CITY--(BUSINESS WIRE)--Jan. 7, 2002 Grupo TMM (NYSE: TMM and TMM/L), the largest Latin American multi-modal transportation and logistics company and owner of ......
Business Editors MEXICO CITY--(BUSINESS WIRE)--May 23, 2002 Grupo TMM (NYSE:TMM and TMM/L), the largest Latin American multi-modal transportation and logistics company, and owner of the ......
MEXICO CITY -- Grupo TMM, S.A. (BMV:TMM A)(NYSE:TMM) will publish third-quarter and first nine months 2005 financial results on Thursday, October 27 after the ......
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