Contact Information: TMM COMPANY CONTACTS: Juan Fernandez Chief Financial Officer 011-5255-5629-8778 (Email Contact) Brad Skinner Senior VP, Investor Relations 011-5255-5629-8725 1-203-247-2420 (Email Contact) Monica Azar Manager, Investor Relations 1-212-659-4975 (Email Contact) AT DRESNER CORPORATE SERVICES: Kristine Walczak (investors, analysts, media) 1-312-726-3600 (Email Contact)
Grupo TMM and Kansas City Southern Assertion of Possible Mutual Claims
| Source: Grupo TMM
MEXICO CITY -- (MARKET WIRE) -- January 31, 2007 -- Grupo TMM, S.A.B. (NYSE : TMM ) (BMV: TMM A)
("TMM" or the "Company"), a Mexican multimodal transportation and
logistics company, announced that, in connection with the December 15, 2004
Amended and Restated Acquisition Agreement ("AAA") entered into by TMM and
Kansas City Southern ("KCS") regarding the sale of TMM's equity interest in
Grupo Transportación Ferroviaria Mexicana, S.A. de C.V. and in TFM, S.A. de
C.V. to KCS, TMM has asserted certain claims against KCS for breach of the
AAA and related agreements and obligations and KCS has advised TMM that KCS
asserts certain claims under the AAA seeking indemnity from TMM.
Headquartered in Mexico City, TMM is a Latin American multimodal
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.