Ace Hardware inks deal with retail subsidiary of COMEX.* Ace Hardware Corp. has signed a letter of intent with Hardware Enterprises de Mexico, a wholly-owned subsidiary of Commercial Mexicana de Pinturas (COMEX COMEX A division of the New York Mercantile Exchange (NYMEX). Formerly known as the Commodity Exchange, COMEX is the leading US market for metals futures and options trading. COMEX See New York Mercantile Exchange (NYM). ), to establish a strategic alliance in the Mexican Mexican named after or originating in Mexico. Mexican axolotl see ambystomamexicanum. Mexican beaded lizard (Heloderma horridum hardware market. COMEX is the largest paint manufacturer in Mexico. Hardware Enterprises de Mexico has a retail format, Practico Home Center, which was created in 1996. Ace contends the agreement will reinforce its strong presence in Mexico. Ace opened its first store in Mexico in 1990, and today has 28 retailer operating 84 retail outlets/points of sale in the market. As part of the agreement, Ace will retrofit ret·ro·fit v. ret·ro·fit·ted or ret·ro·fit, ret·ro·fit·ting, ret·ro·fits v.tr. 1. To provide (a jet, automobile, computer, or factory, for example) with parts, devices, or equipment not in Practico Home Center's 30 existing stores with Ace retail formats and incorporate Ace retail initiatives for the stores in and around Mexico City Mexico City Spanish Ciudad de México City (pop., 2000: city, 8,605,239; 2003 metro. area est., 18,660,000), capital of Mexico. Located at an elevation of 7,350 ft (2,240 m), it is officially coterminous with the Federal District, which occupies 571 sq mi . The existing Ace retailers in Mexico will have the opportunity to source locally manufactured products through Practico. |
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