Grupo Caribe to spend US$17m on upgrades

Grupo Caribe to spend US$17m on upgrades
Published: 08 March 2004

Colombian cement producer Grupo Caribe is to spend 46bn pesos (US$17m) on plant upgrades to modernize and improve operations, executive president Eric Flesch Santoro announced during a 2003 results presentation to shareholders, El Heraldo reported.  The money will be spent at the Cementos del Caribe, Colclinker and Tolcemento plants this year in the cities of Barranquilla, Tolu and Cartagena to optimize production and increase exports.  In 2003 Caribe and its associated companies like Colclinker, Tolcemento and Andino-Venezuela exported 2.55Mt of cement recording sales of US$198m, with the US accounting for 70 per cent of this.