Displaying items by tag: GCC

Mexico: GCC has reported a 10% year-on-year decline in its net sales to US$247m in the first quarter of 2025, from US$273m a year earlier. Earnings before interest, taxation, depreciation and amortisation (EBITDA) fell by 11% to US$73.6m. US concrete volumes rose by 5%, as well as cement and concrete prices across the US and Mexico.

CEO Enrique Escalante said “Despite the challenges we faced during the first quarter, including adverse weather conditions and a dynamic global environment, the fundamentals of our business remain strong. As we move forward, we remain cautiously optimistic, supported by our ability to adapt quickly and leverage our competitive advantages to drive growth throughout the year.”

US: Mexico-based GCC has concluded two bank loan agreements totalling US$135m to fund the expansion of its cement plant in Odessa, Texas. The loans have five- and ten-year maturities respectively, and will support development at the site. GCC did not provide further details in its statement.

It said “These facilities reflect GCC's continued commitment to strengthen its operating and financial performance, while increasing the company's financial flexibility.”

In addition to the Odessa plant, the producer has cement plants in Rapid City, South Dakota; Trident, Montana; Tijeras, New Mexico; and Pueblo, Colorado.

Mexico: GCC has reported a 0.2% increase in its 2024 consolidated net sales to US$1.36bn, whilst sales in the fourth quarter of the 2024 financial year declined by 1% to US$335m.

US operations showed strength, with 4% sales growth and 4.5% increase in concrete volumes in the fourth quarter. Earnings before interest, taxation, depreciation and amortisation (EBITDA) rose by 6% to US$500m for 2024, with the fourth quarter showing 4% growth to US$122m.

CEO Enrique Escalante said "GCC delivered exceptional results once again in 2024. Despite navigating a challenging economic environment, we achieved record-breaking sales, EBITDA, margins and net income. These results underscore our team’s flexibility and agility to successfully execute our strategy. Looking ahead, we remain cautious about demand dynamics. The fundamentals of our business remain strong, especially in the US market where we generated more than 75% of our EBITDA.”

US: GCC Pueblo has upgraded its OK™ 36-4 Cement mill with a new separator from FLSmidth, incorporating the addition of ECS/ProcessExpert's vertical mill application. This upgrades the plant's existing ROKS separator to the latest ROKSH technology.

Mexico: GCC’s net sales were US$273m in 2024, up by 12% year-on-year. Its US sales rose by 17%, with local cement volumes up by 8.3% and concrete volumes up by 5.6% year-on-year, respectively. Meanwhile, its Mexican sales grew by 4%. The price of both cement and concrete rose across both markets. Accordingly, GCC grew its earnings before interest, taxation, depreciation and amortisation (EBITDA) by 32%, to US$82.9m.

Mexico: Members of the National Cement Chamber (Canacem) are set to reduce cement bag weights from 50kg to 25kg to comply with NOM-036, according to El Financiero, which aims to prevent and control musculoskeletal and ergonomic diseases in construction workers. The shift affects companies such as Cemex, Cementos Moctezuma, GCC, Cemento Cruz Azul, Cementos Fortaleza and Holcim.

The standard came into effect on 31 March 2024, but Cementos Moctezuma has already started transitioning to 25kg bags. José Barroso, CEO of Cementos Moctezuma, said "Since 2023, Cementos Moctezuma began the transition from 50kg to 25kg bags in all of its packaged product family.” He added "In Mexico, musculoskeletal disorders represent almost half of the occupational injuries, so we are already implementing changes in our plants to operate according to the new standard.”

Mexico: GCC’s consolidated sales rose by 17% to US$1.36bn in 2023. The group raised its sales by 30% in Mexico and by 12% in the US, with its regional cement volumes rising by 2.2% and 5.2% respectively. GCC’s earnings before interest, taxation, depreciation and amortisation (EBITDA) also grew, by 31%, to US$472m.

Chief executive officer (CEO) Enrique Escalante said "GCC had an outstanding performance during 2023, achieving year-on-year growth in both top and bottom line. Our record-breaking financial performance was driven by strong client relationships and operational excellence." Looking to 2024, Escalante added "Our focus on executing strategic initiatives and enhancing competitive advantages will fortify our margins, aligning our vision for continued success with our commitment to sustainability."

Mexico: GCC has signed an agreement of understanding and collaboration with the United States Agency for International Development (USAID) and professional services company Dexis. Under the agreement the cement producer is joining the Pro-Integrity anti-corruption initiative. This project aims to strengthen the business environment in Mexico by promoting governance, the adoption of corporate best practice and the promotion of partnerships that promote transparency and integrity.

US: Mexico-based GCC has hired ThyssenKrupp Polysius North America to build a 3000t/day clinker production line at its Odessa plant in Texas. When commissioned in late 2025, the line is expected to more than double the plant’s clinker capacity to 2Mt/yr across three kilns. The supplier says the project will also lower the plant’s annual CO₂ emissions by 13%.

GCC chief executive officer Enrique Escalante said "We remain strongly committed to delivering strong stakeholder value, while investing in the future growth of our business. With the expansion of the Odessa plant, we will ensure GCC is prepared for a new phase of the industry cycle."

Mexico: GCC recorded US$1.02bn in sales during the first nine months of 2023, up by 16% year-on-year from US$880m in the first nine months of 2022. The producer’s cement volumes rose by 5.5% in Mexico, but fell by 8.1% in the US. Its earnings before interest, taxation, depreciation and amortisation (EBITDA) grew by 31% to US$354m from US$271m.

GCC chief executive officer Enrique Escalante said “The ability of our teams to face market conditions allowed us to further strengthen our margins Throughout the third quarter of 2023, we continued to invest in the business and focus on commercial performance to offset cost inflation and increase margins, as well as strengthening our market position to build a stronger future for GCC.”