GCC Acquires Ready-Mix Assets in South Dakota and Minnesota
06 1월 2006 - 1:36AM
PR Newswire (US)
CHIHUAHUA, Mexico, Jan. 5 /PRNewswire-FirstCall/ -- Grupo Cementos
de Chihuahua S.A. de C.V. ("GCC" or the "Company") (BMV: GCC*), a
leading cement producer in the markets where it competes in Mexico,
United States and Bolivia, today announced the acquisition of four
leading ready-mix concrete companies in eastern South Dakota and
western Minnesota. The acquired companies, Consolidated Ready Mix,
Inc., Henrich and Sons, Inc., Huron Steel Structures, Inc., and
B&B Concrete, Inc., generate approximately US$ 30 million in
revenues annually from 14 strategically located ready-mix plants
with a fleet of 100 ready-mix trucks. This acquisition will enhance
GCC's leadership position in the competitive cement markets of
South Dakota and the surrounding regions, and position the Company
to benefit from anticipated growth in demand for concrete, while
immediately augmenting GCC's net sales and EBITDA. The group of
companies, which are the leaders in the markets where they compete,
will be operated as Consolidated Ready Mix, Inc., by its current
management as a wholly owned subsidiary of GCC. "This acquisition
represents a unique opportunity for GCC to secure its long-term
leadership position in a growing market. At the same time, our
regional clients in the construction industry will benefit from the
full- service cement and ready-mix concrete offering we can now
provide," said Manuel Milan, Chief Executive Officer of GCC. NOTE:
A conference call will be held today, Thursday, January 5, 2006, at
1:00 p.m. Mexico City time (2:00 p.m. EST) to discuss this
acquisition. Please log onto the webcast at http://www.gcc.com/ ,
or dial +1-973-935-2048 to participate. About GCC GCC is a leading
supplier of cement, aggregates, concrete and construction-related
services in the markets where it competes in Mexico, United States
and Bolivia. The Company's annual cement production capacity is 4.0
million tons. Sales as of September 2005 (12 months) totaled 4.3
billion pesos. Founded in 1941, the Company's shares trade on the
Mexican Stock Exchange under the ticker symbol GCC*. This document
may contain forward-looking statements relating to Grupo Cementos
de Chihuahua S.A. de C.V. and subsidiaries (GCC) based upon
management's projections. These projections reflect GCC's opinion
on future events that may be subject to a number of risks and
uncertainties. Various factors may cause actual results to differ
from those expressed herein, including, among others, changes in
macroeconomic, political, governmental or business conditions in
the markets where GCC operates; changes in interest rates,
inflation rates and currency exchange rates; construction industry
performance; pricing, business strategy and other factors. Should
one or more of these risks or uncertainties materialize, or should
underlying assumptions prove incorrect, actual results may vary
materially from those described herein. GCC assumes no obligation
to update or correct the information contained in this press
release. http://www.gcc.com/ http://www.gcc.com/DATASOURCE: Grupo
Cementos de Chihuahua S.A. de C.V. CONTACT: Luis Carlos Arias,
+011-52-61-4442-3217, or Victor Barriguete, +011-52-61-4442-3189,
both of GCC, Web site: http://www.gcc.com/
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