Colombia’s Argos transfers $43.5m to US unit to boost revenue

Colombia’s Argos transfers $43.5m to US unit to boost revenue
Published: 09 November 2007

Colombia’s largest cement maker  Cementos Argos SA Thursday transferred US$43.5m to its US unit to boost its revenues there, the company said in a filing to the Colombian securities regulator.  
 
Argos USA Corp. will use the money to invest in new machinery and plants in the U.S., the company’s spokesman Pablo Arroyabe said Thursday.  
 
In 2005, Argos bought two cement companies in the U.S. for a total of $257 million, and in the first quarter of last year it agreed to buy RMCC Group Inc, a US ready-mixed concrete supplier, for $435m.