Cement News tagged under: Grupo Cementos de Chihuahua

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GCC quintuples consolidated net income in 1Q18

25 April 2018, Published under Cement News

Grupo Cementos Chihuahua (GCC) reported a 13.6 per cent YoY rise in net sales to US$188.7m in 1Q18. The Mexico-based cement producer saw its EBITDA rise by 40.6 per cent to US$45.9m during the first quarter and improved its EBITDA margin from 19.6 per cent in 1Q17 to 24.3 per cent in 1Q18. Consolidated net income more than quintupled YoY to US$11.3m from US$1.7m in 1Q17. An 18 per cent rise in Mexican sales and an 11.9 per cent increase in US sales were key drivers to the improved results. ...

Fire breaks out at GCC Dacotah cement plant

22 November 2017, Published under Cement News

A fire broke out at the GCC Dacotah cement plant in Rapid City (SD), USA, early Tuesday morning but was quickly extinguished by the local Fire Department, reports Rapid City Journal. No injuries were reported and the plant did not sustain any significant damage. The fire originated from the building in which the coal was stored, therefore the fast response of the emergency services was essential. The company expects no disruption of plant activity and the plant's US$90m expansion project w...

GCC reports 16% sales boost in 3Q results

25 October 2017, Published under Cement News

Grupo Cementos de Chihuahua announced its results for the third quarter of 2017, which reflect the successful integration of the operations acquired in Texas and New Mexico late last year as well as favourable pricing in the US and Mexico, and progress in implementing the company’s growth strategy. Total sales increased 15.9 per cent YoY to MXN4.968bn (US$258.8m) in 3Q17 from MXN4.288bn. The company’s 3Q EBITDA saw a similar rise to MXN1.421bn, up 14.2 per cent from MXN1.245bn. Margins sli...

Cemex sells remaining direct GCC interest

28 September 2017, Published under Cement News

Cemex annnounced it has sold 31,483,332 shares of common stock (the "Shares") of Grupo Cementos de Chihuahua, SAB de CV (GCC), which represents approximately 9.47 per cent of the equity capital of GCC. Proceeds from the sale were around US$168m, which will be used mainly for debt reduction and general corporate purposes. Cemex continues to have an approximate 20 per cent indirect interest in GCC through CAMCEM, SA de CV, an entity that owns a majority interest in GCC and in which Cemex ha...

S&P upgrades GCC rating

06 June 2017, Published under Cement News

S&P Global Ratings has raised its long-term corporate rating on Grupo Cementos de Chihuahua to 'BB' from 'BB-'. The outlook is stable.   At the same time, S&P raised the issue-level rating on the $260m senior secured notes due 2020 to 'BB' from 'BB-'.   Following GCC's acquisition of various assets from Cemex in 4Q16 for approximately US$306m (consisting of one cement plant in Texas, two cement terminals located in Amarillo and El Paso, Texas and the concrete, aggregates, asphalt and bu...

Cemex retains 9.5% of GCC

16 March 2017, Published under Cement News

Cemex SAB de CV said that some of its underwriters did not exercise their over-allotment option to acquire shares in Mexico’s Grupo Cementos de Chihuahua SAB de CV. As a result, Cemex retains a direct stake of 9.47 per cent in GCC. Originally, Cemex aimed at offloading 23 per cent of GCC but only managed to sell a stake of 15.6 per cent, equivalent to 51.75m shares at MXN95 (US$4.83)/share. This shareholding also included a green shoe option and Mexico’s market leader was expected to ...

Mexico's GCC sees 32% hike in EBITDA in 3Q16

13 October 2016, Published under Cement News

Grupo Cementos Chihuahua reported a 32.3 per cent rise in EBITDA in the 3Q16, supported by an 11.5 per cent increase in US sales, a price hike due to the depreciation of the Mexican peso against the dollar. "Net sales (consolidated) in the third quarter of 2016 increased 10.2 per cent over the same period of 2015, totalling MXN4,287m. This increase is a result of higher volumes of cement in Mexico and concrete in the US," explains the firm in its report to the Mexican Stock Exchange (BMV)....

Cemex

02 September 2016, Published under Cement News

Cemex 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 Stable

13 January 2016, Published under Cement News

Fitch 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 plant

10 September 2015, Published under Cement News

Grupo 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...