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IL Crerabo'ta ar i Sigllia a t AOMA -DrU P431KNO arci Plracbcm <br />Description of the business <br />Grupo Cementos de Chihuahua, S.A. de C.V. (hereinafter "the Company") is the holding company whose subsidiaries are <br />engaged primarily in producing and marketing ready-mix concrete and cement. <br />The Company is a wholly owned subsidiary of Control Administrativo Mexicano, S.A. de C.V. <br />Accounting policies and practices <br />The significant accounting policies and practices observed in the preparation of the financial statements are described below: <br />a) Basis of consolidation of financial statements <br />The accompanying consolidated financial statements include the accounts of Grupo Cementos de Chihuahua, S.A. de C.V. <br />and its subsidiaries. The consolidated subsidiaries and the Company's equity interest in each are as follows: <br /> Percentage equity interest <br /> at December 31 <br /> 2001 2000 <br />Mexican companies: <br />Cementos de Chihuahua, S.A. de C.V. 99.98 99.98 <br />Materiales Industriales de Chihuahua, S.A. de C.V. 99.95 99.95 <br />Transportadora Rardm4Ti, S.A. de C.V. 99.96 99.96 <br />Concretos Premezclados de Chihuahua, S.A. de C.V. 99.89 99.89 <br />Minera Raramuri, S.A. 99.98 99.98 <br />Construcentro de Chihuahua, S.A. de C.V. 99.98 99.98 <br />Fincem, S.A. de C.V. 99.99 99.99 <br />Eurotec de Mexico, S.A. de C.V. 100.00 100.00 <br />PTOmOtOrd de Desarrollos Inmobiliarios de Chihuahua, S.A. de C.V. 99.89 99.89 <br />Vin Concreto de Chihuahua, S.A. de C.V. - 99.98 <br />GCC Cemento, S.A. de C.V. 99.98 99.98 <br />GCC Ingenieria y Proyectos, S.A. de C.V. 100.00 100.00 <br />GCC Inversiones y Comercializacion, S.A. de C.V. 99.99 99.99 <br />GCC Tecnologia y Materiales, S.A. de C.V. 99.99 - <br />GCC Chihuahua, S.A. de C.V. 99.95 - <br />Transportes del Chuviscar, S.A. de C.V. 98.76 ! - <br />Foreign companies (Located in the United States): <br />GCC of America, Inc. 100.00 100.00 <br />Rio Grande Portland Cement, Corp. 100.00 100.00 <br />Rio Grande Materials, Inc. 100.00 100.00 <br />GCC Dacotah, Inc. 100.00 100.00 <br />Mexcement, Inc. 100.00 100.00 <br />GCC of Denver, Inc. 100.00 100.00 <br />GCC Holding Company, LLC. 100.00 - <br />GCC Hungary Group Financing Ltd. 100.00 - <br />Important intercompany balances, investments and transactions were eliminated in the consolidation. <br />(Thousands of Mexican pesos with purchasing power at December 31. 2001 and thousands of <br />U.S. dollars, except for per share values and exchange rates)