Displaying items by tag: Grupo Cementos de Chihuahua
Cementos Chihuahua seeks to increase sales in US
13 August 2015Mexico/US: Grupo Cementos Chihuahua (GCC) has announced plans to increase its sales in the US and reach a double digit rate by 2018. The company has estimated 6% income growth in the Mexican market and 8% growth in the US by the end of 2015. GCC has predicted that the cement sector in Mexico will slow down in the upcoming years. At present, 70% of the company's revenue comes from US, while 30% is obtained in the domestic market. GCC also aims to increase its production capacity in the US from 4.6Mt/yr to 5Mt/yr in the mid-term.
Grupo Cementos Chihuahua secures US$194m loan
29 July 2015Mexico: Grupo Cementos Chihuahua has secured a five-year loan of US$194m to refinance debt, according to Esmerk Latin American News. The company is rolling over a syndicated loan due to expire in 2018.
Mexico: Grupo Cementos de Chihuahua (GCC) expects its sales growth to decline in 2015 after record revenues in 2014 as low oil prices constrict demand in the US, the company's top market. GCC treasurer Luis Carlos Arias said that after a nearly 20% sales spike in 2014, the company expects only single digit growth in the US in 2015, which accounts for about 70% of total sales. Demand in Mexico is expected to fall slightly.
Grupo Cementos de Chihuahua sees 1025% swell in 2014 net income
27 February 2015Mexico: Grupo Cementos de Chihuahua (GCC) saw its consolidated net income surge by 1025% in 2014 to US$43.1m. Its consolidated net sales grew by 14.8% year-on-year to US$755m. Net sales grew by 11.7% to US$185m in the fourth quarter of 2014. Cement sales volumes rose by 10% in the fourth quarter and by 9% in the full year. Earnings before interest, taxes, depreciation and amortisation (EBITDA) in 2014 increased by 35% year-on-year to US$154m. EBITDA in the fourth quarter of 2014 grew by 27.5% year-on-year to US$37.2m.
Grupo Cementos de Chihuahua appoints new US division CEO
22 September 2014US: The board of directors of Grupo Cementos de Chihuahua (GCC) has announced that Enrique Escalante will become the CEO of its American division effective from 1 January 2015. The current CEO, Manual Milan, has announced that he will retire at the end of 2014.
"It's a privilege to be selected to lead GCC and I look forward to continuing to grow the organisation," said Escalante. "We remain committed to delivering high value and meeting our customers' needs through leading-edge technology."
Escalante has served as president of GCC of America since 2000. He joined the company in 1999 as president of its Mexican division. Prior to joining GCC, Escalante had more than 20 years experience in management and sales positions in heavy industry and construction materials.
With this change, Ron Henley, vice president of ready-mix and aggregates for GCC of America, will succeed Escalante as president of the company's US division. Henley started with GCC of America in 2012 as vice president of its logistics / supply chain department. In 2013, he assumed his current role. Prior to coming to GCC, Henley was president of Boral Construction Materials.
Under Milan's leadership GCC grew from six to 116 ready-mix concrete plants and from two to six cement plants, achieved an important expansion into the US market and developed a solid distribution network that transformed it into a major supplier in the cement and ready-mix markets it serves. After the 2008 completion of the new plant in Pueblo, Colorado, GCC has now reached an installed a cement capacity of 4.4Mt/yr of cement: 2.4Mt/yr output from the three plants in the US and 2Mt/yr from three plants in Mexico.
Mexico: Grupo Cementos de Chihuahua has reported that it made a net loss of US$8.0m in the three months to 31 March 2013. While representing a loss, the loss was 9.9% lower than in the same period of 2012.
Its revenue was down by 2.7% year-on-year from US$116.5, to US$115.2m, while earnings before interest, tax, depreciation and amortisation took a 36.5% hit, falling from US$16.5m in the first quarter of 2012 to US$11.0m in the first quarter of 2013.
Grupo Cementos de Chihuahua reports Q3 13.3% sales boost
31 October 2012Mexico: Cement producer Grupo Cementos de Chihuahua has reported sales of US$197m for the third quarter of 2012, a rise of 13.3% year-on-year. Increased sales were driven by a growth in sales volumes in the US, higher aggregates and concrete block sales in Mexico and the effect of the Peso depreciation against the US dollar, according to the company's results report.
In Mexico sales were US$51m, a decrease year-on-year due to a reduction of consumption in the public infrastructure sector and the mining industry. Earnings before interest, taxation, depreciation and amortisation (EBITDA) were US$38.4m, an increase of 0.5% year-on-year. Net consolidated income for the third quarter of 2012 was US$11.7m, compared with a loss of US$3.36m in the same period in 2011.