Cbb makes 2025 growth plan

Cbb makes 2025 growth plan
20 January 2021

Chile-based Cbb looks forward to 2025 with optimism, said the company’s Corporate General Manager, Enrique Elsaca Hirmas, after a year that saw the impact of the coronavirus pandemic.

In the first nine months of 2020, Cbb’s revenues fell 14 per cent YoY to CLP168.986bn (US$229.2m) but while full-year figures are expected to show a decline, this will be below the 9M20 drop.

In addition, the company is completing the implementation of the current US$150m Transforma 2021 plan. A total of US$10m remain to be disbursed, which will be used to boosts Cbb’s production capacity.

However, in the short term, Cbb is focussing on expansion in its domestic market of Chile and Peru, particularly through mining projects. The company has started the construction of its US$20m cement plant in Matarani, Peru. It is expected t be completed in six months. “In 2020 we tripled our volumes in Peru and we hope to double them in 2021 with the new plant,” said Mr Elsaca Hirmas.

The company is currently producing its 2025 plan. “The pandemic taught us that it is good to look in the long term and we are making our 2025 plan. But we must take steps one by one. The focus in 2021 is to grow, exceed the levels of 2020 and 2019, and the growth of the next 18 months will come through Peru and in emblematic projects. We are open to seeing other opportunities in Argentina and other countries, such as Colombia and Ecuador,” he added.

Published under Cement News