According to local reports, Mexico’s industrial firm Elementia has held a press conference announcing the launch of a new cement company. Cementos Fortaleza, as the company will be known, will be the first new entrant into the country’s cement market in 70 years.
A US$300 million cement plant is currently under construction in Hidalgo state, and is due to begin operations in December. The plant will have a 1 million tpa production capacity and is initially expected to distribute cement to central Mexico, with deliveries forecast to commence in February 2013. Speaking at the press conference, Elementia’s Chief Executive said that Cementos Fortaleza aims to have a 3% market share by next year and plans to sell aggregates and ready-mix concrete by 2014.
Mexican billionaire Carlos Slim has a 46% stake in Elementia through Grupo Carso SAB, whilst the remaining 56% is controlled by Antonio del Valle.
Edited from various sources by Louise Fordham.
Read the article online at: https://www.worldcement.com/the-americas/17102012/cement_mexico_cementos_fortaleza_plant_enters_market_707/