Mexico/US: Grupo Cementos de Chihuahua (GCC) is ready to grow its operations in the USA and make an acquisition in Central and South America after refinancing its debt and improving its earnings margins via a cost cutting programme, according to local business daily El Universal.

Luis Carlos Arias, director of corporate treasury at GCC, explained that the company currently has only one syndicated bank loan of US$194m, which has been refinanced. As such, it has a more flexible credit structure, which allows it to take advantage of different growth opportunities.

In the US, GCC will invest US$90m in 2015 - 2018 to boost production capacity at its plant in South Dakota by 60% to 1.2Mt/yr. GCC has six cement plants, 117 concrete plants and 21 distribution centres from the north of Mexico to the north of the USA.

According to Arias, GCC is looking for opportunities to expand its business to Central and South America in order to have alternative revenues during the harsh winter in North America, which does not allow production during the coldest months. The company has not decided in which country it could make an acquisition as the cement market is highly concentrated in a few big companies. "There are not many opportunities, we are looking at the region as a whole," said Arias.