Simec Announces New Tax Law Changes Will Not Affect its Cash Flow

Jan 07, 2010, 18:20 ET from Grupo Simec, S.A.B de C.V.

GUADALAJARA and JALISCO, Mexico, Jan. 7 /PRNewswire-FirstCall/ -- Grupo Simec, S.A.B de C.V. (AMEX: SIM) (Simec), a subsidiary of Industrias CH, S.A.B de C.V. (ICH), today announced that according to the recent modifications to the existing income tax laws in effect regarding the management of fiscal consolidation applicable to controlled companies, the effect on deferred Income Tax by fiscal losses has not had an effect on cash flow because Simec is a subsidiary company and not a holding company for tax purposes.

SOURCE Grupo Simec, S.A.B de C.V.