Cement News tagged under: Argos

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Argos' adjusted EBITDA totals COP672bn in 4Q23

22 February 2024, Published under Cement News

For the fourth quarter of 2023, Argos ' adjusted EBITDA stood at COP676bn (US$172.2m), increasing 12   per cent compared to 4Q22. The results were driven by strong pricing dynamics, especially in the US, combined with cost efficiencies in both Colombia and the US. Adjusted EBITDA margin stood at 23.2 per cent for the quarter, increasing 393 basis points versus 2022 on a comparable basis.  In terms of volumes, total cement dispatches reached 3.8Mt, with a contraction of 2.3 per cent, caus...

Argos records EBITDA of COP742bn in the 3Q23

10 November 2023, Published under Cement News

Argos reported that for the 3Q23 adjusted EBITDA stood at COP742bn (US$180.35m), increasing 25.4 per cent on a comparable basis versus 3Q22. The company's revenue in the 3Q23 slipped one per cent YoY to COP3087bn from COP3118bn in the year-ago period. The results were driven by strong pricing dynamics across all regions, combined with cost efficiencies. The adjusted EBITDA margin stood at 24 per cent for the quarter up from 19 per cent YoY. Cement dispatches reached 3.98Mt, with a contrac...

Argos and Summit Materials to combine US operations

08 September 2023, Published under Cement News

Cementos Argos has agreed to combine its operations in the USA with Summit Materials Inc , aiming to create a leading building materials platform on national scale. Cementos Argos (Grupo Argos) has entered into a definitive agreement with Summit Materials, under which they will combine their operations in the US to create a leading platform in the building materials industry. The agreement will have a component of stock consideration worth approximately US$2bn and cash payment of appro...

Argos MD forecasts further investments in the USA and Caribbean

05 September 2023, Published under Cement News

Juan Esteban Calle, MD of Argos SA has revealed that the company is looking to invest in the USA and nearby markets to increase imports. “In the United States, we are making a significant investment in a port in Houston, which will help increase imports,” said Mr Calle. “We are also making other relevant investments in two plants that will allow us to increase our capacity in West Virginia and South Carolina, with an additional 450,000t for the domestic market. “Furthermore, we have ...

InterCement assets in Brazil and Argentina are on other players' radar

21 July 2023, Published under Cement News

According to Valor, InterCement assets are being valued by local and global players. The operations of Loma Negra, Argentina, are being looked at by CEMEX , Pacasmayo and Argos . Loma Negra has nine plants and 45 per cent of the market.     According to Valor, the Brazilian operation could raise the interest of Buzzi, Vicat, Votorantim, CSN, Titan and Mizu. However, no official comment has been made from the parties in the article. In Brazil InterCement has a total production c...

Argos to allocate US$130m for investments to combat climate change

18 July 2023, Published under Cement News

Between 2022 and 2030 Argos has committed to allocate about US$130m in long-term assets (capex) for structuring and implementing initiatives associated with climate change mitigation and adaptation. The focus of these projects will be on the use of lower carbon footprint raw materials, fuel optimisation, the use of alternative fuels (such as urban solid and other industries waste) and energy efficiency. “Concrete is not only the most used building material, but the second most used m...

Natural gas and CO2 abatement across the Atlantic

30 June 2023, Published under Cement News

This week we look at the differing attitudes to alternative fuels (AFs) on each side of the Atlantic. While CEMBUREAU in its 2022 Activity Report has demonstrated the rising level of co-processing in the EU-27 as achieving 52 per cent, in the USA a study by Global Efficiency Intelligence (GEI) has argued that US cement plants may well do better replacing coal and petcoke with natural gas rather than alternative fuels. Europe is considered the leading proponent of co-processing and the use...

Argos strike in French Guiana ends

26 June 2023, Published under Cement News

The three-week strike at Argos Guyane in French Guiana has ended. On 24 June and following several days of talks, an end-of-strike was signed between the parties and the company’s activities will resume on 26 June. The strike centred around three claims: a request for financial expertise, the arrival of the new CEO and the departure of the managers in place. While the first two claims were fully met, in terms of the departure of the current managers a different solution was found. From now...

Saxum partners Dome Technology in Argos dome project

26 May 2023, Published under Cement News

Saxum has reported that it is working on the project for the expansion of the Argos USA 's Port Terminal, Houston, Texas, USA. Along with project partners Dome Technology , Saxum is constructing a new 50,000t storage dome at the terminal. CemNet reported in January 2023 that Argos USA ordered a Bruks Siwertell 490 M-type ship unloader for this terminal.

Argos reports record 1Q23 operating EBITDA

10 May 2023, Published under Cement News

Argos recorded an operating EBITDA of US$127m in the 1Q23,   the highest achieved in a first quarter in its history and 41.3 per cent higher than in the 1Q22. Regarding consolidated revenues, it earned US$721m, representing a growth of 11.9 per cent compared to the previous year. Net profit closed at US$25m, while the leverage index stood at a level of 3.1 times, with a slight increase compared to December, mainly caused by the accelerated revaluation of the Colombian peso at the end of Ma...