Mexican cement maker Grupo Cementos de Chihuahua SA said Wednesday that it plans to start production at its $220m cement plant in Colorado during the second half of 2007.
"With the plant in Colorado, GCC consolidates its presence in the US market where it also has plants in South Dakota, Minnesota, Arkansas and Oklahoma," the company said in a press release.
GCC also said it plans to invest in storage capacity at its US cement plants this year.
GCC – with operations in Mexico, the U.S. and Bolivia – reiterated its forecast of 15% sales growth in 2007.
The company said its Mexican operations should benefit from the privatisation of toll roads taken over by the government after the 1995 financial crisis as well as continued government support of the housing sector.
GCC reported net profit of MXN1.67bn (US$149.2m) on sales of MXN7.17bn last year.