The Adhesives Business ended the year with favorable results despite the complex environment of the construction industry in Mexico, posting sales of $ 4,039 million pesos and outperforming the industry in general with a year-over-year growth of 8%.
During the year, the business implemented important initiatives in the market, which expanded its customer base and grew its participation in the construction specification segment. Despite significant price increases for some of the business’s main inputs, an enhanced sales volume and mix of higher value products enabled the segment to maintain its growth rate and level of profitability.
In order to continue offering products that represent real solutions for the construction industry, new, innovative products were rolled out during the year. Such was the case of Crest Multicolor Grout, composed of a base and a pigment that come separately, with the pigment dissolving when mixed with the base. This high-performance grout offers important advantages for customers, reducing space requirements and inventory costs, and providing LEED points for sustainable buildings. Also in 2018, Crest Blanco Plus reinforced adhesive was launched, designed for the installation of ceramic and porcelain enamel tiles, as well as natural stones.
During the year, the segment continued the consolidation of its “Crest Evoca” and “Proyecta Perdura” programs, initiatives that focus on strengthening the relationship with construction professionals. To this end, events and presentations were held throughout the country to promote the different lines of adhesives and offer advice on their performance and use.
The Adhesives Business also maintained its installer loyalty and closeness programs, holding more than 50 training and product installation workshops in Mexico’s main cities. Mid-year, Crest Installer Day was held in Mexico City, with the participation of more than two thousand participants.
Pursuant to the company’s growth and diversification strategy, during the year the Adhesives Business continued to export products designed for the North American market. Great efforts were also made to evaluate and understand the needs and opportunities in the markets of South America, in order to capitalize on synergies with the Wall and Floor Tiles Business and expand the business’s operations to that region.