Elementia: Fortaleza brand to register 20% growth in 2014-15

Despite a slow market, Mexico’s Cementos Fortaleza expects to close 2014 and 2015 with growth. Antonio Taracena, director general at Elementia, owner of the Fortaleza brand, attributes the growth due to the new brand.

Although sales are forecast to rise by barely one per cent in Mexico this year, Elementia – owned by Carlos Slim and Antonio del Valle – expects to show 20 per cent growth by end-2014, and predicts the same level for 2015.

"We will grow another 20 per cent, as in this year. We are new to the market, we are entering new territory, consolidating a network of distributors, therefore we are a new brand that is expanding and we have that expectation," said Mr Taracena.

In 2014, the company forecasts sales of 1.6Mt of cement. At present, it has a five per cent market share.

Elementia plans to buy the 47 per cent Lafarge stake in the cement company for US$225m.