Mucinno Holding, Inc. Signs Contract with CEMEX S.A.B. de C.V.; a Fortune Global 500 Company
Mucinno Holding, Inc. (MCNO) has signed a significant contract with CEMEX, S.A.B. de C.V., a Fortune Global 500 company, to supply 100,000 tons of recycled silica sand annually until October 2024, with a renewal option.
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Rhea-AI Summary
Mucinno Holding, Inc. (MCNO) has signed a significant contract with CEMEX, S.A.B. de C.V., a Fortune Global 500 company, to supply 100,000 tons of recycled silica sand annually until October 2024, with a renewal option. The contract enhances Mucinno's role as a primary supplier for CEMEX's cement plants in central Mexico, driven by increased demand due to a major investment in the Tepeaca cement plant. Mucinno is also supplying transport services, utilizing 12 approved transport units to meet contract demands effectively.
Positive
- Contract signed with CEMEX for the supply of 100,000 tons of silica sand annually.
- Strategic growth opportunity due to increased demand linked to CEMEX's expansion.
- Contract duration until October 2024 with a renewal option enhances long-term revenue visibility.
- Utilization of recycled materials aligns with sustainability trends in the industry.
Negative
- None.
Details
News Market Reaction – MCNO
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Mucinno Holding, Inc. (MCNO) signs contract with CEMEX, S.A.B. de C.V. (CX) to be a supplier of silica sand and a provider of transport services.
MEXICO CITY, MX / ACCESSWIRE / October 5, 2021 / Mucinno Holding, Inc. (OTC PINK:MCNO)
Mucinno Holding is pleased to announce that it has signed a contract with CEMEX S.A.B. de C.V. This contract is valid until October 2024 with option to renewal. It celebrates the supply and transportation service of silica sand with CEMEX, where it is agreed to supply the cement producer plants located in the center region of Mexico (Atotonilco, Tamuin, Tepeaca and ECSA) with 100,000 tons of silica sand annually. Thanks to the strategic location of the mine, Mucinno Holding is a principal provider of the mentioned plants.
Due to the investment of half a billion dollars, Tepeaca is the largest cement plant in the world, increasing its production capacity by
The sand that is agreed to supply is recycled silica sand, collected from foundry residuals. Mucinno Holding has a contract with Amsted Rail to collect their foundry molds made from silica sand. These molds go through a cleaning and screening process to have a raw material that complies with the quality filters of our clients.
Mucinno Holding has designated 12 transport units to fulfill the requirement of this contract. These units and their operators have been approved and comply with the high-quality standards and security standards that CEMEX requests from their suppliers.
Edgar Mucino Castillo, CEO of Mucinno Holding said: "We are pleased to celebrate this contract with a Fortune company. Our goal with contracts is to build a compliance history to show that we are reliable to keep expanding our services and supply demand."
About CEMEX, S.A.B. de C.V.
CEMEX is a global building materials company that provides high quality products and reliable service to customers and communities throughout the Americas, Europe, Africa, the Middle East, and Asia. They produce, distribute, and sell cement, ready-mix concrete, aggregates, and related building materials in more than 50 countries, and they maintain trade relationships in approximately 102 nations. It has annual revenues of 13 billion dollars.
To learn more about CEMEX, visit: www.cemex.com
About Mucinno Holding, Inc.
Mucinno Holding is a group focused on mining activities that specializes on the extraction and transport of aggregates. It owns two silica sand mines and transport equipment to supply its consumers. The company aims to expand by offering more services to their clients and innovate creating finished goods made from their own raw material.
To learn more about Mucinno Holding, Inc. visit: www.mcno.com.mx
About Amsted Rail
Is dedicated to the manufacture of high quality and heavy-duty castings mainly for the Railroad industry, with a presence in 10 countries.
To learn more about Amsted Rail visit: www.amstedrail.com
Forward-looking statements
This press release contains forward-looking information within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1993 and Section 21E of the Securities Exchange Act of 1934 and is subject to the safe harbor created by those laws. These forward-looking statements are based upon a number of assumptions and estimates that are subject to significant uncertainties that involve known and unknown risks, many of which are beyond our control and are not guarantees of future performance. Actual outcomes and results could materially differ from what is expressed, implied, or forecasted in any such forward-looking statements and any such difference may be caused by risk factors listed from time to time in the Company's news releases and/or its filings with the OTC Bulletin Board or as a result of other factors.
Company Contact:
Mucinno Holding, Inc.
investors@mcno.com.mx
www.mcno.com.mx
news.mcno.com.mx
SOURCE: Mucinno Holding, Inc.
View source version on accesswire.com:
https://www.accesswire.com/666843/Mucinno-Holding-Inc-Signs-Contract-with-CEMEX-SAB-de-CV-a-Fortune-Global-500-Company
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