Contact Information: TMM COMPANY CONTACT: Jacinto Marina Chief Financial Officer 011-525-55-629-8866 ext. 2901 Monica Azar Investor Relations 917-597-5361 or 011-525-55-629-8866 ext. 3421 AT DRESNER CORPORATE SERVICES: Kristine Walczak (investors, analysts, media) 312-726-3600
Grupo TMM Announces Management Change
| Source: Grupo TMM
MEXICO CITY--(Marketwire - February 9, 2010) - Grupo TMM, S.A.B. (NYSE : TMM ) (BMV: TMM A)
("TMM" "or the "Company"); a Mexican intermodal transportation and
logistics company, announced today that Fernando Sánchez Ugarte, who has
served as president of Grupo TMM for the past two years, resigned his
position today.
The Company's Executive Committee accepted Mr. Sánchez Ugarte's resignation
and agreed that José F. Serrano, chairman of the board, will continue to
serve as chief executive officer.
These changes resulted from the financial restructuring executed last
December, which strengthens the Company and assures its financial
viability.
Grupo TMM thanks Mr. Sánchez Ugarte for the two years he dedicated to the
Company.
Headquartered in Mexico City, TMM is a Latin American intermodal
transportation Company. Through its branch offices and network of
subsidiary companies, TMM provides a dynamic combination of ocean and land
transportation services. Visit TMM's web site at www.grupotmm.com. The site
offers Spanish/English language options.
Included in this press 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 speak only as of the date they are
made and are based on the beliefs of the Company's management as well as on
assumptions made. Actual results could differ materially from those
included in such forward-looking statements. Readers are cautioned that all
forward-looking statements involve risks and uncertainty. The following
factors could cause actual results to differ materially from such
forward-looking statements: global, US and Mexican economic and social
conditions; the effect of the North American Free Trade Agreement on the
level of
US-Mexico trade; the condition of the world shipping market; the success of
the Company's investment in new businesses; the ability of the Company to
reduce corporate overhead costs and the ability of management to manage
growth and successfully compete in new businesses These risk factors and
additional information are included in the Company's reports on Form 6-K
and 20-F on file with the United States Securities and Exchange Commission.