Grupo Industrial Saltillo, S.A.B. de C.V.
GISSAA.MX
Mexican Stock Exchange12.29
MXN
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Grupo Industrial Saltillo, S.A.B. de C.V.
GISSAA.MX
(Mexican Stock Exchange)
Recent
price
12.29
P/E
ratio
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div
yld
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ROIC.AI
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- Business
- Grupo Industrial Saltillo, S.A.B. de C.V. (GISSA.MX) operates as a diversified Mexican industrial conglomerate focused on manufacturing automotive components, building materials, and housewares through its subsidiaries. The company produces gray and ductile iron castings, aluminum components, and machined parts for automotive systems including engine blocks, cylinder heads, brakes, chassis, and structural elements under the Draxton brand via subsidiaries such as Industria Automotriz Cifunsa S.A. de C.V. and Draxton; manufactures ceramic wall and floor tiles, bathroom fixtures, residential and industrial water heaters powered by gas and solar energy, and fluid conduction joints under brands like Vitromex, Cal-o-Rex, Fluida, and HESA through entities including Manufactura Vitromex S.A. de C.V. and Calentadores de America S.A. de C.V.; and designs, produces, and markets kitchen utensils, tableware, and small electronic appliances in its housewares segment. GIS conducts operations across Mexico, the United States, Europe, China, and Asia, serving major automotive clients such as Caterpillar, General Motors, Toyota, and Chrysler, as well as construction retailers like Home Depot. Founded in 1928 by Isidro López Zertuche as a small household utensils plant in Saltillo, Coahuila, Mexico, where it maintains headquarters at Chiapas 375, the company listed on the Mexican Stock Exchange in 1976 and has evolved through diversification since incorporating as Troqueles y Esmaltes S.A. in 1930. Recent developments include a May 2024 syndicated credit facility of up to USD190 million to refinance debt and enhance liquidity; inauguration of machining and plating expansions at the Evercast joint venture plant in Irapuato, Mexico, in October 2024 marking its 10-year anniversary; strategic capacity expansions in Draxton foundries, including new lines in North America to reach 18 million machined pieces annually from 13 million; solar energy installations across Draxton plants in Europe and China to reduce costs and environmental impact; and a 66% increase in consolidated UAFIRDA to USD29 million in 3Q24 driven by operational improvements amid a shift toward electrification-agnostic, high-value automotive parts.