Cement News tagged under: Central America
Guatemala: Fitch affirms Cementos Progreso IDRs, Outlook Stable25 September 2015, Published under Cement NewsFitch Ratings has affirmed Cementos Progreso SA's (Cempro) Issuer Default Ratings (IDRs) at 'BB+'. The Rating Outlook is Stable. Cempro's 'BB+' ratings reflect the company's leading position in Guatemala's cement industry. Its solid market position is viewed as sustainable considering the country's limited infrastructure and challenging logistics, which limit imports and significantly increase cement distribution costs. Further deterrents include the company's extensive distribution netwo... |
Argos reports solid start to the year28 May 2015, Published under Cement NewsArgos reported a solid first-quarter results, with a double-digit rise in cement volumes and price recovery in both Colombia and the US. Consolidated revenues in the first quarter grew 27 per cent YoY, reaching COP1.7trn (US$669m). EBITDA was up by 18 per cent to COP307bn supported by structural improvements in al regional divisions as the group reported continuous achievements in operational efficiencies an discipline across al fronts of its organisation. Net income for 1Q15 stood at C... |
Cementos Argos readies itself for 'vibrant' US market growth26 March 2015, Published under Cement NewsWith US demand recovery on a roll, Cementos Argos is readying itself for 'vibrant' growth in the years ahead with the group having consolidated its presence in nine strategic states. Last year, Argos recorded historic overall results in terms of both income and EBITDA, which rose above US$2.9m and US$534m (growth of 17 and eight per cent, respectively). The company reported unprecedented consolidated figures in terms of cement and concrete sales volumes, dispatching 12.5Mt of cement and 11M... |
Honduras: cement price up HNL10.35 in past year24 March 2015, Published under Cement NewsA 42.5kg bag of cement in Honduras has seen its price rise by HNL10.35 (US$0.48) in the past 12 months as the ex-works price was dollarised. In February 2014, the Ministry of Economic Development (SDE) and cement companies agreed to set the price at US$7.60/bag. From February 2014 to March 2015 the price rose from HNL157.10 to HNL167.45/bag. However, regional variations exist. In the capital Tegucigalpa, a bag costs HNL178-180 while in Nacaome and San Lorenzo cement retails at HNL190/... |
A bumpy recovery02 July 2014, Published under Cement NewsWhile Central America offers a healthy potential for infrastructure development and housing construction, limited economic growth and investment are expected to hinder a corresponding rise in cement demand going forward. In addition, the rapid build-up of capacity has resulted in lower utilisation rates across the region. By Rob Roy, ROI Economic Consulting, USA. Panama (pictured) is the fastest-growing cement market in Central America, followed by Guatemala Central America has ... |
Ancap notes record loss for 201312 May 2014, Published under Cement NewsUruguay’s Ancap closed 2013 with a record loss of US$150m. The company attributed the result partly to developments in the exchange rate, which impacted the cement producer significantly as it borrows in US dollars. However, Ancap has been able to pay the US$513m debt with PDVSA, allowing it to reduce its dollar position and limiting the 2013 loss. CEO, José Coya, said the company will design a “stabilisation programme.” In 2012, Ancap registered a loss of US$14m while in 2011, this ... |
Cemex increases first-quarter volumes01 May 2014, Published under Cement NewsCemex' first-quarter turnover increased by 8.2 per cent to US$3590.7m, while the EBITDA improved by 2.7 per cent to US$535m. The trading profit rose by 11.7 per cent to US$267.7m. The net interest charge increased by 10.4 per cent to US$406.9m, to give a pre-tax loss 11.3 per cent higher at US$167.9m. The effective net debt was 0.9 per cent higher at US$16,325m, of which 88 per cent was in US dollar, 10 per cent in euro and two per cent in Mexican peso, with 66 per cent of the debt being ... |
Honduran authorities to monitor cement prices17 March 2014, Published under Cement NewsThe Secretariat of Economic Development in Honduras announced it will be monitoring cement prices to protect consumers in San Pedro Sula, northern Honduras. Miguel Angel Bonilla of the Consumer Protection Directorate said that apart from monitoring costs of basic products, the performance of the construction industry would also be reviewed. "We have turned the relevant instructions for our team to monitor cement prices, in order to prevent providers from acting to the detriment of con... |
Honduras cement prices up for discussion06 March 2014, Published under Cement NewsThe Honduras Ministry of Industry and Commerce, the Commission for the Defense and Promotion of Competition and the country’s cement companies will meet Thursday to discuss changes to the price of cement. At present the price of a bag of cement is frozen at HNL160 (US$8.21). A decision is expected by 10 February as the following day the resolution holding the price at HNL160 expires. "We will have another meeting with the cement companies and probably next Monday we will be issuing a fina... |
Argos: positive developments across the board25 February 2014, Published under Cement NewsArgos, closed 2013 with a strong rise in EBITDA on the back of positive contributions from all its regional divisions. Other highlights for the year were the inclusion of Argos on the Dow Jones Sustainability Index, successful issuance of preferred shares in Colombia and abroad, and new acquisitions to close a successful year for Argos. “2013 was a year that completely transformed this company. The successful issuance of preferred shares significantly helped us implement our expansion stra... |