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Due to the dynamic strength <br />of public and private works <br />construction in the state of <br />Chihuahua, in the first six months <br />¦ Under this program, in December 2001, we placed a successful five-year <br />of 2001, cement and ready-mix issue of $1,200 million pesos, which received the same rating as the pro- <br />concrete sales volumes grew 3.4% gram. With these funds, we prepaid part of the company's bank loan used <br />for the acquisition. In combination with this debt placement, a cross cur- <br />and 3.2%, respectively rency swap was made, resulting in a more competitive average cost. <br /> <br />¦ As a result of our efforts to promote sales and strategic growth, net sales <br />totaled a record $3,461.5 million pesos, reflecting real annual growth of <br />20.2%. <br />Total fement Sales <br />¦ Sales in Mexico represented 58.5% of GCC's total sales, achieving historic thousands of metric tons <br />sales volumes in the cement, ready-mix concrete, aggregate, and concrete- <br />block operations. In the United States, we also reached record figures in <br />N <br />cement sales volumes, reflecting 86.1 % growth. <br />r, <br />¦ Due to the dynamic strength of public and private works construction in N 0 aD <br />the state of Chihuahua, that started in the second half of 2000 and - <br />remained for the first six months of 2001, cement and ready-mix concrete <br />sales volumes in the Mexican market grew 3.4% and 3.2%, respectively. In <br />the third and fourth quarters of the year, economic activity in the state of <br />Chihuahua was reduced considerably as a consequence of the economic <br />slowdown in Mexico, which resulted mainly from the slowdown in the U.S. 97 989900 O1