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Grupo Cementos de Chihuahua (GCC), Mexico's second largest cement maker after Cemex, experienced a downturn in its Mexican sales, but an remarkable increase in its US and Bolivian markets, according to a consolidated results report at the Mexican stock exchange. GCC has pursued an aggressive effort to globalize operations, with company acquisitions in the United States and South America in recent years. Net Sales in the second quarter of 2009 rose 3.6 percent with respect to the year ago period, totaling $2,358.6 million pesos. This was the result of a 6.4 percent increase in the United States and 76.0 percent in Bolivia. In addition, free cash flow was 225.7 percent greater than in the second quarter of 2008. In the United States, sales in pesos rose 6.4 percent compared to the second quarter of 2008 as a result of a more favorable pricing environment in concrete and the depreciation of the peso against the dollar. There was a decline in the residential and public infrastructure sectors, and a slight improvement in the commercial sector. This strong growth was due to greater demand in the DIY and commercial-industrial sectors, as well as the depreciation of the peso against the Bolivian peso. GCC is a leading supplier of cement, aggregates, concrete and construction-related services in Mexico and the United States. GCC consolidates the 47.02 percent stake in Sociedad Boliviana de Cemento, S.A. and subsidiaries in which it holds common control. Founded in 1941, the company’s shares trade on the Mexican Stock Exchange under the ticker symbol GCC.
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Source: Chihuahua Frontier
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