This excerpt taken from the ICA 20-F filed Jul 17, 2006.
Our performance is tied to Mexican public-sector spending on infrastructure and industrial facilities.
Our performance historically has been tied to Mexican public-sector spending on infrastructure facilities and to our ability to bid successfully for such contracts. Mexican public-sector spending, in turn, generally has been dependent on the state of the Mexican economy. In the past, public sector spending has tended to decrease in election years, and we expect this will occur in 2006. A decrease in public-sector spending as a result of a deterioration of the Mexican economy, changes in Mexican governmental policy, or for other reasons are likely to have an adverse effect on our financial condition and results of operations.