Cement News tagged under: Grupo Cementos de Chihuahua

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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...

GCC sees higher volumes and bettter pricing

19 August 2015, Published under Cement News

Grupo 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 prices

10 April 2015, Published under Cement News

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.

GCC's fourth-quarter sales rise 18% YoY

02 March 2015, Published under Cement News

GCC (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,...