~ US$ 2.5 million in annual savings
CHIHUAHUA, Mexico, Dec. 17, 2019 (GLOBE NEWSWIRE) -- Grupo Cementos de Chihuahua, S.A.B. de C.V. (“GCC” or the “Company”), (BMV: GCC*), a leading supplier and producer of cement and concrete in the United States, Mexico and Canada, today announced that it has signed a long-term agreement with a leading Mexico-based energy supplier of solar energy for the Company’s Mexico operations, including GCC’s Juarez cement plant, ready mix and aggregates operations and to GCC’s corporate offices. This agreement covers approximately 20% of the total electricity consumed at the Company's Mexico operations.
The 15-year agreement takes effect beginning January 2021 and represents a significant decrease from current electricity costs for these operations, translating into roughly US$ 2.5 million in annual savings as well as reducing CO2 by ~21,000 metric tons; equivalent to around 4,600 passenger vehicles driven for a year based on a U.S. Environmental Protection Agency estimate*.
Today’s announcement, the second renewable energy agreement signed by the Company in 2019, is a further reflection of GCC's unwavering commitment to clean energy at both its Mexico and U.S. operations; reducing overall energy costs while successfully mitigating related price fluctuation.
GCC remains focused on implementing global best practices related to sustainability throughout the organization while further strengthening the Company’s overall profitability.
GCC is a leading supplier and producer of cement, concrete, aggregates, and construction‐related services in the United States, Mexico and Canada, with an annual cement production capacity of 5.8 million metric tons. Founded in 1941, the Company’s shares are listed on the Mexican Stock Exchange under the ticker symbol GCC*.
This press release may contain forward-looking statements. All statements that are not clearly historical in nature are forward-looking, and the words “anticipate,” “believe,” “expect,” “estimate,” “intend,” “project” and similar expressions are generally intended to identify forward-looking statements. These statements are subject to risks and uncertainties 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; performance of the construction industry; 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 differ materially from the beliefs, projections, and estimates described herein. GCC assumes no obligation to update the information contained in this press release.
*Source: EPA estimates that the average passenger vehicle emits approximately 4.6 metric tons of carbon dioxide per year. This number can vary based on a vehicle’s fuel, fuel economy, and the number of miles driven per year.
For further information, contact:
|GCC Investor Relations:|
|Ricardo Martinez, IRC |
+52 (614) 442 3176
+ 1 (303) 739 5943