GCC expects declining growth on low oil prices

GCC expects declining growth on low oil prices
Published: 10 April 2015


Grupo Cementos de Chihuahua (GCC) expects sales growth to decline this year after record revenue last year as low oil prices constrict demand in the United States, the company's top market.

GCC Treasurer Luis Carlos Arias told Reuters in an interview that after a nearly 20 per cent sales spike in 2014, the company projects only single digit growth in the US, which accounts for about 70 per cent of total sales. Demand in Mexico is expected to fall slightly, he said.