Empresas ICA shareholders appoint board of directors

By Sheri Kasprzak

New York, May 2 – Empresas ICA, SAB de CV’s shareholders appointed the company’s board of directors, including two chairmen, according to a notice released Monday.

The shareholders named nine board members to its board of directors, including Bernardo Quintana Isaac, Luis Fernando Zarate Rocha, Sergio Fernando Montano Leon, Guadalupe Phillips Margain, Carlos Guzman Bofill, Elsa Beatriz Garcia Bojorges, Bernardo Sepulveda Amor, Jorge Ricardo Gutierrez Munoz and Luis Guillermo Zazueta Dominguez.

The shareholders also appointed Bojorges as the chair of the audit committee and Bofill as the chair of the corporate practices committee.

Also during the shareholders’ meeting, the company’s financial results were approved.

The company posted a Ps. 19.76 million consolidated net loss for 2015, up Ps. 5.93 million from the previous year, according to a preliminary full-year operating report released Monday.

The company posted Ps. 33.23 million of revenue and sustained an operating loss of Ps. 6.36 million on a preliminary basis.

Empresas saw a Ps. 6.39 million operating loss, sliding from a Ps. 6.04 million operating income for 2014.

At the end of 2015, the company had Ps. 9.26 million of cash and cash equivalents on hand, down from Ps. 8.41 million at the end of 2014.

Based in Mexico City, Empresas is an infrastructure and construction company.

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