Argos: US$10m improvement program

Argos: US$10m improvement program
Published: 26 March 2004

Colombian cement company Cementos Argos is to continue a reorganization program to obtain synergies and better coordinate activities of its constituent companies, company president José Vélez told a shareholder meeting, Economia en Red reported.  This year the company will spend US$10m on various projects to modernise its plants and operations. This includes the construction of four logistics and distribution centers in Bogotá, Cali, Barranquilla and Medellín. The company will also improve its US port infrastructure.  Vélez said the company is also revising its investments in other cement markets with a view to strengthening its presence in some areas rather than pulling out of any. Argos has investments in Haiti, Panama, Dominican Republic and Venezuela. He did not reject the idea of expanding into markets such as Peru and Ecuador.