{"id":380503,"date":"2020-11-12T17:56:40","date_gmt":"2020-11-12T22:56:40","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=380503"},"modified":"2020-11-12T17:56:40","modified_gmt":"2020-11-12T22:56:40","slug":"gcc-obtained-a-favorable-resolution-in-the-annulment-of-the-damages-award-all-legal-proceedings-in-bolivia-have-been-exhausted","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/gcc-obtained-a-favorable-resolution-in-the-annulment-of-the-damages-award-all-legal-proceedings-in-bolivia-have-been-exhausted\/","title":{"rendered":"GCC Obtained a Favorable Resolution in the Annulment of the Damages Award, All Legal Proceedings in Bolivia Have Been Exhausted"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"justify\">CHIHUAHUA, Mexico, Nov.  12, 2020  (GLOBE NEWSWIRE) &#8212; <strong>Grupo Cementos de Chihuahua, S.A.B. de C.V. (BMV: GCC<\/strong><strong>*<\/strong><strong>,<\/strong><strong> or \u201cthe Company\u201d)<\/strong><strong>,<\/strong> a leading producer of cement and concrete in the United States and Mexico, announced today that it has obtained a favorable resolution in the annulment of the \u201cDamages Award\u201d, in the arbitration process commenced by Compa\u00f1\u00eda de Inversiones Mercantiles, S.A. (\u201cCIMSA\u201d), against the Company and pursuant to the Inter-American Commission on International Commercial Arbitration.<\/p>\n<p align=\"justify\">This annulment was notified by the highest constitutional justice authority in Bolivia on October 29<sup>th<\/sup> of this year. Consequently, all legal proceedings filed in the country of Bolivia have been resolved in favor of GCC.<\/p>\n<p align=\"justify\">Based on this resolution, the Company will commence the corresponding legal proceedings in the United States to reverse the ruling from the District Court of Colorado.<\/p>\n<p align=\"justify\">\n        <strong>About GCC <\/strong>\n      <\/p>\n<p align=\"justify\">GCC is a leading supplier and producer of cement, concrete, aggregates, and construction\u2010related 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\u2019s shares are listed on the Mexican Stock Exchange under the ticker symbol GCC*.<\/p>\n<p align=\"justify\">\n        <strong>Forward-Looking Statements<\/strong>\n      <\/p>\n<p align=\"justify\">This press release may contain forward-looking statements. All statements that are not clearly historical in nature are forward-looking, and the words \u201canticipate,\u201d \u201cbelieve,\u201d \u201cexpect,\u201d \u201cestimate,\u201d \u201cintend,\u201d \u201cproject\u201d 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.<\/p>\n<p align=\"justify\">\n        <strong>For<\/strong><br \/>\n        <strong>further<\/strong><br \/>\n        <strong>information<\/strong><br \/>\n        <strong>, <\/strong><br \/>\n        <strong>contact<\/strong><br \/>\n        <strong>:<\/strong>\n      <\/p>\n<p align=\"justify\">\n        <strong>GCC Investor Relations<\/strong>\n      <\/p>\n<p align=\"justify\">Ricardo Martinez<br \/>+52 (614) 442 3176<br \/>+ 1 (303) 739 5943<br \/>rmartinezg@gcc.com<\/p>\n<p>      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA4NTM2MyMzODIyMjcwIzIwOTIyNzg=\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>CHIHUAHUA, Mexico, Nov. 12, 2020 (GLOBE NEWSWIRE) &#8212; Grupo Cementos de Chihuahua, S.A.B. de C.V. (BMV: GCC*, or \u201cthe Company\u201d), a leading producer of cement and concrete in the United States and Mexico, announced today that it has obtained a favorable resolution in the annulment of the \u201cDamages Award\u201d, in the arbitration process commenced by Compa\u00f1\u00eda de Inversiones Mercantiles, S.A. (\u201cCIMSA\u201d), against the Company and pursuant to the Inter-American Commission on International Commercial Arbitration. This annulment was notified by the highest constitutional justice authority in Bolivia on October 29th of this year. Consequently, all legal proceedings filed in the country of Bolivia have been resolved in favor of GCC. Based on this resolution, the Company will commence the corresponding legal &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/gcc-obtained-a-favorable-resolution-in-the-annulment-of-the-damages-award-all-legal-proceedings-in-bolivia-have-been-exhausted\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;GCC Obtained a Favorable Resolution in the Annulment of the Damages Award, All Legal Proceedings in Bolivia Have Been Exhausted&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-380503","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>GCC Obtained a Favorable Resolution in the Annulment of the Damages Award, All Legal Proceedings in Bolivia Have Been Exhausted - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/gcc-obtained-a-favorable-resolution-in-the-annulment-of-the-damages-award-all-legal-proceedings-in-bolivia-have-been-exhausted\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"GCC Obtained a Favorable Resolution in the Annulment of the Damages Award, All Legal Proceedings in Bolivia Have Been Exhausted - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"CHIHUAHUA, Mexico, Nov. 12, 2020 (GLOBE NEWSWIRE) &#8212; Grupo Cementos de Chihuahua, S.A.B. de C.V. (BMV: GCC*, or \u201cthe Company\u201d), a leading producer of cement and concrete in the United States and Mexico, announced today that it has obtained a favorable resolution in the annulment of the \u201cDamages Award\u201d, in the arbitration process commenced by Compa\u00f1\u00eda de Inversiones Mercantiles, S.A. (\u201cCIMSA\u201d), against the Company and pursuant to the Inter-American Commission on International Commercial Arbitration. This annulment was notified by the highest constitutional justice authority in Bolivia on October 29th of this year. Consequently, all legal proceedings filed in the country of Bolivia have been resolved in favor of GCC. Based on this resolution, the Company will commence the corresponding legal &hellip; Continue reading &quot;GCC Obtained a Favorable Resolution in the Annulment of the Damages Award, All Legal Proceedings in Bolivia Have Been Exhausted&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/gcc-obtained-a-favorable-resolution-in-the-annulment-of-the-damages-award-all-legal-proceedings-in-bolivia-have-been-exhausted\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2020-11-12T22:56:40+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA4NTM2MyMzODIyMjcwIzIwOTIyNzg=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/gcc-obtained-a-favorable-resolution-in-the-annulment-of-the-damages-award-all-legal-proceedings-in-bolivia-have-been-exhausted\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/gcc-obtained-a-favorable-resolution-in-the-annulment-of-the-damages-award-all-legal-proceedings-in-bolivia-have-been-exhausted\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"GCC Obtained a Favorable Resolution in the Annulment of the Damages Award, All Legal Proceedings in Bolivia Have Been Exhausted\",\"datePublished\":\"2020-11-12T22:56:40+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/gcc-obtained-a-favorable-resolution-in-the-annulment-of-the-damages-award-all-legal-proceedings-in-bolivia-have-been-exhausted\\\/\"},\"wordCount\":356,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/gcc-obtained-a-favorable-resolution-in-the-annulment-of-the-damages-award-all-legal-proceedings-in-bolivia-have-been-exhausted\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODA4NTM2MyMzODIyMjcwIzIwOTIyNzg=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/gcc-obtained-a-favorable-resolution-in-the-annulment-of-the-damages-award-all-legal-proceedings-in-bolivia-have-been-exhausted\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/gcc-obtained-a-favorable-resolution-in-the-annulment-of-the-damages-award-all-legal-proceedings-in-bolivia-have-been-exhausted\\\/\",\"name\":\"GCC Obtained a Favorable Resolution in the Annulment of the Damages Award, All Legal Proceedings in Bolivia Have Been Exhausted - 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(BMV: GCC*, or \u201cthe Company\u201d), a leading producer of cement and concrete in the United States and Mexico, announced today that it has obtained a favorable resolution in the annulment of the \u201cDamages Award\u201d, in the arbitration process commenced by Compa\u00f1\u00eda de Inversiones Mercantiles, S.A. (\u201cCIMSA\u201d), against the Company and pursuant to the Inter-American Commission on International Commercial Arbitration. This annulment was notified by the highest constitutional justice authority in Bolivia on October 29th of this year. Consequently, all legal proceedings filed in the country of Bolivia have been resolved in favor of GCC. Based on this resolution, the Company will commence the corresponding legal &hellip; Continue reading \"GCC Obtained a Favorable Resolution in the Annulment of the Damages Award, All Legal Proceedings in Bolivia Have Been Exhausted\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/gcc-obtained-a-favorable-resolution-in-the-annulment-of-the-damages-award-all-legal-proceedings-in-bolivia-have-been-exhausted\/","og_site_name":"Market Newsdesk","article_published_time":"2020-11-12T22:56:40+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA4NTM2MyMzODIyMjcwIzIwOTIyNzg=","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/gcc-obtained-a-favorable-resolution-in-the-annulment-of-the-damages-award-all-legal-proceedings-in-bolivia-have-been-exhausted\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/gcc-obtained-a-favorable-resolution-in-the-annulment-of-the-damages-award-all-legal-proceedings-in-bolivia-have-been-exhausted\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"GCC Obtained a Favorable Resolution in the Annulment of the Damages Award, All Legal Proceedings in Bolivia Have Been Exhausted","datePublished":"2020-11-12T22:56:40+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/gcc-obtained-a-favorable-resolution-in-the-annulment-of-the-damages-award-all-legal-proceedings-in-bolivia-have-been-exhausted\/"},"wordCount":356,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/gcc-obtained-a-favorable-resolution-in-the-annulment-of-the-damages-award-all-legal-proceedings-in-bolivia-have-been-exhausted\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA4NTM2MyMzODIyMjcwIzIwOTIyNzg=","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/gcc-obtained-a-favorable-resolution-in-the-annulment-of-the-damages-award-all-legal-proceedings-in-bolivia-have-been-exhausted\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/gcc-obtained-a-favorable-resolution-in-the-annulment-of-the-damages-award-all-legal-proceedings-in-bolivia-have-been-exhausted\/","name":"GCC Obtained a Favorable Resolution in the Annulment of the Damages Award, All Legal Proceedings in Bolivia Have Been Exhausted - 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