GCC Signs Long-Term Agreement With Renewable Energy Supplier for Its Rapid City, South Dakota, Cement Plant

CHIHUAHUA, Mexico, May 07, 2020 (GLOBE NEWSWIRE) -- Grupo Cementos de Chihuahua, S.A.B. de C.V., or GCC,  (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 U.S.-based energy provider to supply wind power to GCC’s Rapid City, South Dakota, cement plant. The agreement covers around 50% of the electricity consumed at the plant.

The switch to wind power will result in an approximately 50,000 metric ton reduction in CO2 emissions annually. That’s equivalent to around 11,000 passenger vehicles driven for a year, based on the U.S Environmental Protection Agency estimate*.

The 15-year fixed-price agreement is expected to take effect in the first quarter 2021.

“By switching to renewable energy resources to power our business, we’re able to advance our sustainability objectives while supporting the expansion of affordable renewable energy development in the regions in which we operate”, said Enrique Escalante, GCC´s CEO

GCC remains focused on implementing global best practices related to sustainability throughout the organization while further strengthening the Company’s overall profitability.

About GCC

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*.

Forward-Looking Statements

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, legal, public health crises including COVID-19, 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; and 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 ton 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.

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