2005

January. Grupo Industrial Camesa, S.A. de C.V., consolidated the purchasing operation of Grupo Primex, S.A. de C.V., the PVC market leader in Mexico. With this consolidation, we became the leading vinyl-chlorine chain in Mexico and furthered our basic strategy of adding value to our raw materials.

June. In line with our strategy to concentrate on the chemical and petrochemical sectors, we sold our steel division to WRCA, the largest cable manufacturer in the United States, for a total of USD 125 million.

September. Grupo Industrial Camesa, S.A. de C.V., changed its name to Mexichem, S.A. de C.V., in order to more closely identify the company with the chemical and petrochemical sectors on which it is focused.

October. We held initial and secondary public offerings for the sale of Mexichem’s shares, in which more than one thousand Mexican and international investors took part. The total number of shares issued in the offerings, which established a new growth platform and new sources of financing, was 97.75 million: 65 percent of which were issued in the initial offering and the remainder in the secondary placement. We placed more than USD 135 million in a single series and increased the float up to 28 percent for the investing public.

November. We initiated a successful bid to acquire 69 percent of the capital stock of Dermet de México, S.A. de C.V. The acquisition gives Mexichem access to distribution channels for a large number of chemical products and will enable it to capitalize on synergies with the products that it currently manufactures and sells. In addition, the acquisition will give us access to market intelligence regarding the chemical and petrochemical sectors as well as access to and information about the retail market.