Cement News tagged under: Grupo Cementos de Chihuahua

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Fitch upgrades GCC’s ratings, outlook to stable

23 January 2015, Published under Cement News

Fitch 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 CEO

19 September 2014, Published under Cement News

The 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 usage

23 May 2014, Published under Cement News

GCC’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, Mexico

12 September 2013, Published under Cement News

Standard & 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...

GCC posts quarterly first quarter net loss, Mexico

29 April 2013, Published under Cement News

Mexican cement producer Grupo Cementos de Chihuahua (GCC) posted a net loss of MXN98.6m (US$8.1m) in 1Q13 down from MXN109m in the same period of last year. Unfavourable winter weather conditions in the US, the firm's largest market, and the peso appreciation against the US dollar negatively impacted the 1Q13 top line, with sales decreasing to MXN1.44bn from MXN1.5bn a year earlier. Operating costs also rose 2.8 per cent YoY as the operative result went into the red, dropping to MXN8m. ...

GCC sales rise 13.3 per cent, Mexico

31 October 2012, Published under Cement News

Mexico-based cement producer Grupo Cementos de Chihuahua (GCC) has posted MXP2.58bn (US$197m) in sales for 3Q2012, up 13.3 per cent YoY. The company posted  EBITDA of MXP501m, up 0.5 per cent compared with the prior-year-period. Net consolidated income for the third quarter was MXP152m, up 266 per cent over the MXP43.8m loss registered in the same period of 2011. Increased sales were driven by a growth in sales volumes in the US, "higher aggregates and concrete block sales in Me...

GCC sees improved sales in USA and Mexico

29 February 2012, Published under Cement News

Mexican cement producer Grupo Cementos de Chihuahua (GCC) reported a 4.9 per cent YoY rise in full year consolidated net sales to MXP7197.4m, as it reported improvements in construction activity in its domestic and USA markets from 2Q11. However, operating income for the year fell 18.5 per cent YoY to MXP464.3m while EBITDA was down 9.8 per cent to MXP1359.4m. Net sales in the 4Q11 reached MXP1996,7m, up 18 per cent over the same period of last year thanks to higher sales in both market...