Cydsa

What Cydsa does

Cydsa (legal name CYDSA, S.A.B. de C.V.) is a publicly listed Mexican industrial holding company founded in 1945 in Monterrey and trading on the Mexican Stock Exchange (BMV) under ticker CYDSASA since 1973. The group operates through two divisions and five business units: the Chemicals Manufacturing and Specialties division comprises Sales del Istmo (SISA) for evaporated salt under the La Fina brand, Industria Química del Istmo (IQUISA) for chlor-alkali and chemical specialties across five Mexican plants, and Quimobásicos — a joint venture with Honeywell — for refrigerant gases under the Genetron brand; the Energy Processing and Logistics division comprises Sistemas Energéticos SISA for natural gas-fired cogeneration and Almacenamientos Subterráneos del Sureste (ASSE) for underground LPG storage in salt caverns.

Cydsa's underlying technology rests on chlor-alkali electrolysis, brine evaporation, underground salt cavern engineering, and natural gas-fired cogeneration. The company holds government concessions for exploitation of the saline domes in Coatzacoalcos, Veracruz, manufactures the only refrigerant gases produced in Mexico under the Genetron brand, operates an Argon Plasma Arc fluorinated gas destruction technology with 99.99% destruction and removal efficiency, runs two cogeneration plants delivering 114 MW of electricity and 130 tons of steam per hour, and maintains 1.8 million barrels of LPG storage capacity. SISA is the largest producer of evaporated salt in the Americas at 500,000 tons per year.

The business model is industrial B2B with diversified revenue streams: chemicals manufacturing and sales (chlorine, caustic soda, salt, refrigerants) to industrial customers across paper, water treatment, food, textile, mining, oil & gas, and refrigeration sectors; managed underground hydrocarbon storage services primarily serving PEMEX; and surplus electricity sales to the Mexican national grid. Cydsa employs approximately 1,700 people across more than 20 subsidiaries in 9 Mexican locations and exports to over 15 countries in Latin America, the Caribbean, and the United States via its SISAMEX Dallas office. Pricing is contract-negotiated and not publicly disclosed.

Name

Cydsa

Legal name

CYDSA, S.A.B. de C.V.

Website

https://cydsa.com

Company type

Public

Founded year

1945

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Cydsa is a publicly traded Mexican industrial holding company operating chemicals manufacturing (salt, chlor-alkali, refrigerants) and energy logistics (cogeneration, underground LPG storage) divisions, serving industrial customers across 15+ countries with PEMEX as a key anchor client.

Ownership category

akta.pro rank

Headquarters

HQ city

San Pedro

HQ country

Mexico

HQ region

Latin America

Offices9 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Operations, Supply Chain, Personnel, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Chemicals Manufacturing and Sales: Revenue from manufacturing and selling chemical products including chlorine, caustic soda, salt (La Fina brand), and refrigerant gases (Genetron brand) to industrial customers domestically and for export
2. Underground Hydrocarbon Storage Services: Storage services for LPG and hydrocarbons in salt caverns, primarily serving PEMEX, contributing to Mexico's energy infrastructure
3. Electricity and Steam Cogeneration: Sale of surplus electricity to the Mexican national grid and supply of steam/electricity to CYDSA's own facilities at competitive costs

Go-to-market motion1 record

Distribution channels5 records

Marketing channels4 records

Core offering

Cydsa is a Mexican industrial holding company that manufactures and sells industrial chemicals (chlorine, caustic soda, salt, and refrigerant gases) through its IQUISA, Sales del Istmo (SISA), and Quimobásicos business units, and operates energy processing and logistics assets including natural gas-fired cogeneration plants producing electricity and steam, plus underground LPG storage in salt caverns. The company also provides destruction services for fluorinated gases using Argon Plasma Arc technology. Its products serve paper, water treatment, textile, food processing, refrigeration, HVAC, oil & gas, mining, and chemical processing industries in Mexico and 15+ export markets.

Product overview

CYDSA is a Mexican industrial group operating through two main Business Divisions with five distinct business units. The Chemicals Manufacturing and Specialties Division encompasses: (1) Sales del Istmo (SISA) producing salt under the La Fina® brand for household and industrial applications; (2) IQUISA manufacturing chlorine, caustic soda, and chemical specialties through five plants nationwide; and (3) Quimobásicos, a joint venture with Honeywell, producing refrigerant gases under the Genetron® brand. The Energy Processing and Logistics Division includes: (4) Sistemas Energéticos SISA operating cogeneration plants producing electricity and steam; and (5) Almacenamientos Subterráneos del Sureste (ASSE) providing underground hydrocarbon storage in salt caverns. The company exports to over 15 countries and maintains operations across 9 locations in Mexico.

Differentiator

Problem solved

Functional benefit

Brands

• Genetron: Refrigerant gases brand marketed by Quimobásicos, the joint venture between CYDSA and Honeywell. Covers refrigeration, air conditioning, foaming gases and propellants.
• La Fina
• IQUISA

Products and services

• Sales del Istmo (SISA) - Salt Products

Quantifiable outcome

• Reduces emission intensity to 0.65-0.85 tCO2e/t produced by 2030 (50-62% reduction from 1.7 tCO2e/t in 2018)
• +1 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

One partnership is on record.

• Honeywell (through joint venture Quimobásicos)coreStrategic or Co-development Partner · 1 January 1961CYDSA and Honeywell formed Quimobásicos joint venture in 1961, making it the only manufacturer in Mexico of refrigerant gases. Quimobásicos commercializes the latest generation of gases under the Genetron brand, serving refrigeration, air conditioning, foaming agents and propellants markets domestically and for export to Latin America and USA.

Scale indicators7 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Linde plc: Global industrial gases major producing atmospheric, process and specialty gases. Broad reference peer for the Quimobásicos industrial gas platform and refrigerant/HFC management capabilities.
• Olin Corporation: US producer of chlorine, caustic soda, epoxy resins and chlorinated organics through its Chlor Alkali Products and Vinyls (CAPV) and Epoxy segments. Direct chlor-alkali comparable to IQUISA.
• Westlake Corporation: Large US-based integrated chlor-alkali, PVC and building products producer. Comparable to IQUISA on chlor-alkali chemistry scale and downstream derivatives, though much larger and more diversified.
• Air Liquide: Global industrial and medical gases leader serving chemicals, refining, electronics and food customers. Comparable to CYDSA on industrial gas operations and customer profile in chemicals and energy.
• Occidental Petroleum (OxyChem): Operates OxyChem, one of the largest US chlor-alkali and chlorovinyls producers. Highly comparable to IQUISA's chlor-alkali business at scale, and a reference point for Latin American chlor-alkali economics.

Direct peers

• The Chemours Company: US-based fluoroproducts and refrigerants spin-off of DuPont. Highly comparable to Quimobásicos' Genetron refrigerant business, HFO transition, and ODS destruction services.
• Orbia Advance Corporation (formerly Mexichem): Mexico-based publicly listed industrial group with fluorinated specialties (Vestolit/Alphagary), polymer solutions, and infrastructure. Direct peer to CYDSA as the other major Mexican chemicals conglomerate competing in chlor-alkali, fluorinated products and downstream specialty chemicals.

Others

• Honeywell International: JV partner in Quimobásicos and owner of the Genetron refrigerant franchise globally. Directly comparable on refrigerant gas technology and product portfolio, and CYDSA's commercial access to next-generation gases flows through this relationship.

Regional players

• Grupo Alfa: Mexican diversified industrial holding with chemicals (Alpek), refrigerated foods and other operations. Highly comparable as a BMV-listed Mexican holding company with a major petrochemicals platform and family-influenced governance.
• Compañía Minera Autlán: Mexican mining and metallurgical company producing manganese ferroalloys, coal and mineral chemicals. Comparable as a BMV-listed Mexican industrial conglomerate with commodity chemical exposure and energy-intensive operations.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/cydsa

Compliance24 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles16 records

Subsidiaries10 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Cydsa