Mexican GCC To Expand in South America, USA

Mexican GCC To Expand in South America, USA
Published: 30 September 2005

Mexican cement maker Grupo Cementos de Chihuahua (GCC) will expand operations in South America and the United States in a mid term, the investor relations director of the company, Luis Carlos Arias, said on September 28, 2005.  At the beginning GCC will invest $80 mln (66.32 mln euro) to buy cement plants or cement companies in the USA or South America, Carlos Arias added. The company studies at present projects for the purchase of plants in the regions quoted.  GCC recently bought a 46.57 per cent stake in the Bolivian largest cement maker Sociedad Boliviana de Cemento (Soboce). 
 
According to Luis Carlos Arias, the company does not have expansion plans for Mexico at present. GCC expects that the sales of the company in Mexico will increase 5.0 per cent year-on-year in 2005.  GCC was founded back in 1941, the assets of the company at present are estimated at $875m it operates in Mexico and in seven U.S. states. GCC has more than 1500 employees and produces 3.3Mt of cement annually.