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In addition to Grupo Lamosa posting extraordinary results in 2021, during the year various events converged that allowed the company to leverage important opportunities
“Overall Best in the Show” Award at Coverings 2021
Grupo Lamosa’s Wall and Floor Tiles Business was recognized as “Overall Best in the Show” at the Coverings 2021 Expo in the United States, one of the world’s most important ceramic tile fairs. The Organizing Committee gives this award to the best exhibitor at an event that boasts the participation of more than 300 exhibitors from a range of different countries. Among the factors that contributed to the company obtaining this accolade was its launch of porcelain products in different contemporary styles. The recognition also underscores the company’s commitment to offering sophisticated products, with avant-garde designs, in world-class formats and textures, and made with the most advanced technology in the industry
Acquisition of Grupo Roca’s tile business
Grupo Lamosa announced the acquisition of Grupo Roca’s tile business for US$241 million, incorporating the results of its operations as of September. This transaction represents a very important step in the company’s growth and diversification strategy. On the one hand, it strengthens Grupo Lamosa’s presence in the Americas by giving it entry into the Brazilian market and reinforcing its position in the United States, two of the largest markets in the world. On the other hand, it positions the company to expand its operations into Europe.
Acquisition of FANOSA
Grupo Lamosa signed an agreement to acquire FANOSA for US$115 million. FANOSA is a leading Mexican producer of expanded polystyrene (EPS) products, used mainly for insulation and weight reduction in the construction and packaging industries. The transaction strengthens Grupo Lamosa’s growth and diversification strategy, positioning it to take advantage of its current capabilities to create a growth platform with a more comprehensive product offering focused on sustainable solutions for the construction industry.
HR Ratings upgrades its rating of Grupo Lamosa
Based on Grupo Lamosa’s favorable operating and financial performance, HR Ratings raised the company’s risk rating from “HRAA” to “HRAA+” on a local scale, with a stable rating outlook. Some of the factors the rating agency took into account in the upgrading process were the company’s increased revenue, enhanced free cash flow generation, reduced leverage and consistency in implementing its organic and inorganic growth strategy.