Cementos Argos - June 2019

Cementos Argos is selling its entire stake in Omya Andina for COP62,700m (US$19.6m). Omya Andina is a subsidiary of Switzerland’s Omya AG, a leading producer of calcium carbonate and worldwide distributor of specialty chemicals for use in the construction industry. According to Cementos Argos, the move forms part of its value creation and investment targeting strategy in cement, concrete and aggregates. 

“This operation is part of the program of efficiency allocation of resources that, through the divestment of non-strategic assets, will allow the company to achieve greater financial flexibility and advance in the concentration of its core businesses, in which great opportunities are visualized,” said the company in a statement.