Grupo Cementos de Chihuahua (GCC), a leading producer of cement and ready-mix concrete in the United States and Mexico, announced that sales increased 10.6 percent in the third quarter of 2018 and 11.1 percent in the first nine months of 2018.
The company generated $83.6 million in EBITDA in the third quarter – a new quarterly record. Free Cash Flow generation reached $76.3 million in the quarter.
Enrique Escalante, GCC chief executive officer, said, “GCC’s third quarter and nine-month results show continued success in implementing the company’s expansion plans in an environment of steady demand growth and favorable pricing environments in both the U.S. and Mexico. The results also demonstrate solid operational execution and the benefits of the debt refinancings that were carried out earlier in 2018 and last year.”
“Significant achievements in the quarter included operational integration of the Trident plant in Montana acquired in the second quarter; completion of construction of the Rapid City, S.D., plant expansion and start of the tie-in process; reactivation of two idled kilns in Chihuahua to meet growing demand in the U.S. and Mexico; significant interest savings from the refinancing of bank debt and bonds; and the inclusion of GCC shares in the IPC blue-chip index of Mexican stocks,” Escalante concluded.
