Cementos Argos, Colombia’s largest cement company, said Tuesday its consolidated net profit in 2009 almost tripled to COP210bn (US$109m) from the COP71bn reported in 2008.
Cementos Argos and its subsidiaries own plants in the US, Panama, Haiti and the Dominican Republic, and it recently signed an agreement to start operating in Suriname.
Argos recently acquired a 50% stake in Surinam group Vensur and believes it will need to pump US$3.5m into the latter over the period 2010-2012 to increase its current production capacity of 200,000tpa.
The purchase of the Surinam firm is added to that of a cement complex in Curazao, at a cost of US$2.5m, recently as well as the buying of Holcim stakes in various Caribbean cement operations for a total of US$157m.
Argos is looking to knit together a network of production and sales across Central America and the Caribbean. It states too that it is ready to help in the rebuilding of Haiti. Argos has a plant on the relevant side of the island which was not much harmed in the recent local catastrophe.