Company news.

MEXICO CITY 

The race for the best burger in Mexico is heating up. Burger King has a 35% market share and is gaining ground on McDonald's. In the past year, the chain opened 30 new restaurants compared to McDonald's 25 and has plans to invest nearly US$200 million more by year's end. McDonald's is Mexico's leader in hamburger sales with a 41% market share.

Mexico's second-largest financial group, Banamex, and its parent company Citigroup have launched a debit card that allows Mexicans living in the United States to transfer funds to relatives in Mexico. The card, called Tarjeta Tricolor Banamex, is the first joint product launched by the two financial groups. Fund transfers cost US$5 plus a 2% exchange commission.

Keeping up with Banamex is Santander Serfin and its U.S.-based partner Bank of America. The pair plans to launch several joint products and services as well as improving existing services. So far, the partners have improved their transfer card service SendSafe, which allows funds to be sent to Mexico. Bank of America acquired 24.9% of Santander Serfin last March, and is one of the largest banks in the world, serving more than 150 countries.

The Spanish security software firm Secuware expects revenues of US$1 million from its first year in the Mexican market. The company's software is made primarily for Windows and aims to monitor employees' use of equipment and prevent the installation of inappropriate software. Secuware is distributing its product through the local unit of Spanish wholesaler Afina.

Mexican metal maker Grupo Imsa has made plans to launch a securities offering for about US$500 million next year. The industrial conglomerate is also designing a US$100million investment plan for 2004. This reduced investment will allow Imsa to minimize its debt, which is projected to be US$900million by the end of the year. Growth forecasts are predicting identical results as 2002, when revenues increased 21%.

California-based telecommunications equipment supplier Aperto Networks has been selected by Mexican telecom giant MVS Comunicaciones to build broadband Internet access networks in nine Mexican cities. MVS will have Aperto's wireless system PacketWave installed in Mexico City, Guadalajara and Monterrey by the end of this year, and will expand installation to six other cities in 2004.

AROUND THE COUNTRY

U.S.-based Marshall Brass has announced it will transfer about 25 assembly jobs to a plant located in Matamoros, Tamaulipas. By increasing the number of jobs in Mexico, Marshall Brass will be able to remain competitive in the grill and recreational markets.

Pemex has selected Emerson Process Management for an automation project at its refinery in Tula, Hidalgo. Emerson's technology will be used to automate a new alkylation plant at the Tula refinery that will produce high-octane gasoline, with most of the production supplying motor fuel to Mexico City residents.

Ford Motor Company is planning to invest US$1 billion to build and develop its next generation of mid-sized vehicles at its Hermosillo, Sinaloa, complex. The production of Ford, Mercury and Lincoln models will begin in 2005. In addition, a total of 500,000 Ford Futuras will be built at various locations in Mexico.

The international adhesives, sealants and surface treatment company Henkel announced it will invest more than US$100 million in Mexico and will employ more than 900 people by acquiring the adhesive unit of Mexican Conglomerate Desc Group. The deal means Henkel will acquire local adhesive brands Resistol and Resikon.

Toyota is constructing a pickup truck factory in Tijuana. With this new plant, Toyota is expecting to produce 30,000 pickups at its border factory. Mexican authorities have announced that after Toyota's investment, at least four other automakers are analyzing the possibility of opening assembly plants in there.

Monterrey-based Cemex, the world's third-largest cement company, has acquired the assets of American Dixon-Marquette Cement for about US$84 million. Cemex hopes the acquisition will make the it more competitive in the United States, its second-largest market after Mexico.