Cement News tagged under: Grupo Cementos de Chihuahua
Cemex02 September 2016, Published under Cement NewsCemex investment in Grupo Cementos de Chihuahua is being restructured, with Cemex taking a 23 per cent direct stake as well as a minority interest in Camcem, which will be the majority shareholder in Cementos de Chihuahua. Cementos de Chihuahua will remain a quoted company. Cementos de Chihuahua saw its turnover for the first six months decline by 1.4 per cent to US$333.4m, with the US operations registering a 4.2 per cent improvement to US$235.4m, while the Mexican activities registered ... |
Fitch upgrades Grupo Cementos de Chihuahua's ratings to 'BB'; outlook Stable13 January 2016, Published under Cement NewsFitch Ratings has upgraded Grupo Cementos de Chihuahua (GCC) local and foreign currency Issuer Default Ratings (IDRs) to 'BB' from 'BB-'. Fitch also upgraded GCC's US$260m senior notes due 2020 to 'BB' from 'BB-'. The rating outlook is Stable. The ratings upgrade reflects the strengthening of US residential construction across several of the company's markets as well as a favourable economic environment in northern Mexico that should support cement demand in the state of Chihuahua. Robust... |
GCC to invest US$90m in US plant10 September 2015, Published under Cement NewsGrupo Cementos de Chihuahua (GCC) will invest up to US$90m in the next two years to increase capacity at one of its three US plants, while assessing further acquisition opportunities, according to Luis Carlos Arias, finance director of GCC. The investment will enable GCC to nearly double capacity at its South Dakota works. The facility currently has a production capacity of 0.7Mta, which is expected to increase to 1.2Mta upon completion of the project. GCC has a global production capa... |
GCC sees higher volumes and bettter pricing19 August 2015, Published under Cement NewsGrupo Cementos de Chihuahua (GCC) reported a 19 per cent rise YoY in second-quarter net sales to MXP3051m (US$186m) on the back of higher volumes and a better pricing environment both in its Mexican and US markets. In the US, sales rose by 19.6 per cent in the quarter, totalling MXP2190.3m. This reflected the two per cent rise in cement sales driven by deliveries in Minnesota, Texas, Iowa and South Dakota. Ready-mix volumes remained at the previous year’s level as adverse weather conditio... |
GCC expects declining growth on low oil prices10 April 2015, Published under Cement NewsGrupo 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. |
GCC's fourth-quarter sales rise 18% YoY02 March 2015, Published under Cement NewsGCC (Grupo Cementos de Chihuahua) reported a sales increase of 18 per cent in the fourth quarter compared to the same period of 2013, totaling MXN2546.1m (U$$170m), reflecting an increase in both Mexico and the US across all the company's products. In the US, sales rose 17.6 per cent compared to the fourth quarter of 2013 and totaled MXN1735.6m. Cement sales volumes grew five per cent and concrete 20 per cent, driven by demand in Texas, South Dakota, Iowa, New Mexico, Arkansas and Oklahoma,... |
Fitch upgrades GCC’s ratings, outlook to stable23 January 2015, Published under Cement NewsFitch has raised the credit rating of Mexican cement firm Grupo Cementos de Chihuahua (GCC) to BB-, in both local and foreign currency, with a stable outlook. Fitch said in a statement that ratings upgrade reflects GCC's strong operating performance over the past several quarters, its significantly improved credit profile following debt repayments during 2014 and the successful debt refinancing during 2013. The upgrade takes into consideration the improvement in the US cement market and an ... |
GCC appoints new American division CEO19 September 2014, Published under Cement NewsThe Board of Directors of Grupo Cementos de Chihuahua (GCC) announced that Enrique Escalante will become the chief executive officer effective 1 January 2015. Current CEO, Manual Milan, announced he will retire at the end of this year. Escalante said, “It’s a privilege to be selected to lead GCC and I look forward to continuing to grow the organisation. We remain committed to delivering high value and meeting our customers’ needs through leading-edge technology.” Escalante served as presi... |
GCC’s Pueblo plant starts TDF usage23 May 2014, Published under Cement NewsGCC’s Pueblo plant in Colorado has begun utilising tyre-derived fuel (TDF) in its manufacturing process. The plant team is targeting an eventual fuel replacement of 50 per cent of calciner fuel, which equates to 30 per cent of total fuel. The company expects to replace 40,000tpa of coal. GCC plans to further investigate available fuels and raw materials to further its sustainability program, reduce environmental impacts and make its operations more eco-efficient. |
S&P revises GCC’s outlook to stable, Mexico12 September 2013, Published under Cement NewsStandard & Poor's has affirmed its B-rating for Mexico-based producer Grupo Cementos de Chihuahua (GCC) and has revised the outlook from positive to stable. The rating reflects GCC's "aggressive financial risk profile and weak business risk profile" and is constrained by the company's geographic concentration, limited scale and less than adequate liquidity. The company's operations were affected by a longer than expected winter in the US during 1H13 that "limited construction activiti... |