MEXICO CITY, Jul 13, 2001
Mexican snack-food makers Fritos Encanto and Tostiricas Nieto, both based in the northern city of Monterrey, on Thursday said they had formed an alliance entailing joint procurement operations, Mexico City daily Reforma reported. Tostiricas Nieto owner Ismael Palacios Nieto said the two companies also remained in negotiations to expand the new alliance into other areas of activity - including distribution. "The deal we've just signed is to jointly procure inputs," Palacios said. "We're looking to reduce our production costs and step up to the large companies that sell products like ours," he said. Tostiricas Nieto has annual sales of approximately 20 million dollars, around 30 percent of which are export sales. The company exports snack food to Honduras, Guatemala, Costa Rica, Colombia, Venezuela, Argentina, the United States, Canada and France.
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