TMM Extends Expiration Date of Bondholders Consent
10 January 2001
TMM Extends Expiration Date of Bondholders Consent
MEXICO CITY, Jan. 10 Transportacion Maritima Mexicana,
S.A. de C.V. , Mexico's largest multi-modal
transportation and logistics company, announced an extension of the consent
solicitation of the holders of the company's 9-1/4% notes due 2003 and 10%
senior notes due 2006 in connection with its contemplated consolidation of
Grupo TFM with TMM for accounting purposes expected to occur beginning in
January 2001, and merger of TMM with Grupo Servia expected to occur during the
first half of 2001.
As previously announced, the parent company resulting from the
consolidation and merger, if consummated, will be named Grupo TMM.
The consent solicitation process began December 12, 2000, and was to
expire on January 5, 2001. TMM has announced that the new expiration date of
the consent solicitation process is 5:00 PM EST, January 10, 2001, unless
further extended. The extension will provide more time to complete the
solicitation process.
Salomon Smith Barney is the exclusive Solicitation Agent for the Consent
Solicitation and can be reached at 390 Greenwich Street, fourth floor, New
York, NY 10013, Attention - Liability Management Group, or by telephone at
800-558-3745. Mellon Investor Services LLC is the Information Agent for the
Consent Solicitation. Requests for assistance in completing and delivering
the Consent Form or requests for additional copies of the Consent Solicitation
Statement, the Consent Form or other related documents should be directed to
the Information Agent at 44 Wall Street, seventh floor, New York, NY 10005 or
by telephone at 888-892-5623.
This press release does not constitute a consent solicitation. The
Consent Solicitation is made only by the Consent Solicitation Statement dated
December 12, 2000, copies of which are available from the Information Agent.
Headquartered in Mexico City, TMM is Mexico's largest multimodal
transportation company. Through its branch offices and network of subsidiary
companies, TMM provides a dynamic combination of ocean and land transportation
services. TMM also has a significant interest in Grupo Transportacion
Ferroviaria Mexicana (TFM), which operates Mexico's Northeast railway and
carries over 40 percent of the country's rail cargo.
Included in this release are certain forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. Such forward-looking
statements are based on the beliefs of TMM's management, as well as on
assumptions made by and information currently available to TMM at the time
such statements were made. The words "believe," "expect" and "anticipate" and
similar expressions identify some of these forward-looking statements.
Statements looking forward in time involve risks, uncertainties and other
factors which may cause the actual results, performance or achievements of TMM
to be materially different from any future results, performance or
achievements expressed or implied by such forward-looking statements. Such
factors include, among others, global, U.S. and Mexican economic and social
conditions; the effect of the North American Free Trade Agreement ("NAFTA") on
the level of U.S. - Mexico trade; TMM's ability to convert customers from
using trucking services to rail transport services; competition from other
rail carriers and trucking companies in Mexico; TMM's ability to control
expenses; and the effect of TMM's employee training, technological
improvements and capital expenditures on labor productivity, operating
efficiencies and service reliability. Actual results could differ materially
from those included in such forward-looking statements. Readers are cautioned
not to place undue reliance on such forward-looking statements, which speak
only as of their respective dates. TMM undertakes no obligation to update
publicly or revise any forward-looking statements, whether as a result of new
information, future events or otherwise. These risk factors and additional
information are included in TMM's reports on Forms 6-K and 20-F on file with
the Securities and Exchange Commission.