Cement News tagged under: Cementos Argos

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Cementos Argos to issue shares to finance expansion, Colombia

17 April 2013, Published under Cement News

Colombia’s largest cement producer Cementos Argos plans to issue up to 250m preferred shares to finance an expansion plan, the company said on Tuesday. Argos has set a range of between COP7700-9300 (US$4.20 to US$5.07) per share for the offering, the company said in a statement to Colombia's financial regulator. Argos is expected to give more details later this week, according to market sources.

Colombia’s Argos closes 2012 with 25% rise in EBITDA

26 February 2013, Published under Cement News

Argos, Colombia’s largest cement producer, recorded a 25 per cent YoY rise in EBITDA in 2012 and an 82 per cent rise in operating income. The group, which also operates in the Caribbean and US, reported EBITDA of COP791,190m and operating income was COP414,566m. After incorporating the cement and concrete assets acquired in the southeastern US, consolidated revenues reached COP4,380,393m. "We traded in 10.8Mt of cement and 8.5Mm3 of concrete in Colombia, the Caribbean and the United S...

Argos looking to raise US$411m with bond issuance

28 November 2012, Published under Cement News

Grupo Argos is looking to raise up to COP750bn (US$411m) with the issuance of mandatory convertible bonds scheduled for November 27, local paper La República reported. Groupo Argos is the parent company of Colombia's largest cement firm, Cementos Argos. The placement, already approved by Colombian financial regulator Superfinanciera, will start with an initial value of COP500bn, with the possibility to be increased by COP250bn. The issuance was expected to include two-year and five-year...

Keeping pace with demand

26 October 2012, Published under Cement News

Updates this week from the Latin American cement sectors of Colombia, Bolivia and Peru show buoyant market conditions prevail and some local producers are expanding capacities to capture a greater share of market growth. Colombia Earlier this week, Cementos Argos reported that it has seen a continued upward trend in its domestic market of Colombia where current economic growth forecasts, the recovery of the sovereign-grade investment and government infrastructure projects point to a po...

Argos registers 25% rise in third quarter EBITDA

19 October 2012, Published under Cement News

Colombia’s Cementos Argos' third quarter operating revenues reached COP3.2bn as the cement company sold 8.2Mt of cement and 6.4Mm3 of concrete in Colombia, the Caribbean and the USA. The figures represent an expansion in sales of seven per cent for cement and eight per cent for concrete. The company’s EBITDA amounted to COP605,000m, an increase of 25 per cent YoY while its operating profit totalled COP328,000m due to the momentum gained by its US and Caribbean operations. Net profit stood ...

Cementos Argos announces investment in Colombia's central zone

19 September 2012, Published under Cement News

Colombia’s leading cement producer Cementos Argos announced yesterday that it is to spend US$93m in expanding its cement capacity in the country’s central zone as the company positions itself for expected increases in domestic construction acitivity. The main focus of Argos’ investment will be the expansion of its Rioclara plant by 900,000tpa of cement. The project involves the  extension of clinker capacity, the installation of a high-efficiency vertical mill plus packing and a truck load...

Cementos Argos positive sales trends continue

30 July 2012, Published under Cement News

Cementos Argos has reported positive operating figures for its cement division, continuing the trends seen in the first quarter of the year. Argos. In the second quarter of 2012 operating figures showed positive growth, giving continuity to the trends first seen in the first quarter. Cement sales for the April-June period stood at 4.9Mt and ready-mix concrete sales were 4.2Mm3.  In the Colombia division, cement sales were up six per cent and ready-mix concrete sales rose 19 per cent, c...

Cementos Argos bond offering, Colombia

18 May 2012, Published under Cement News

Colombia's largest cement firm, Cementos Argos raised COP700bn (US$389m) through its bond offering on May 16. The offering was 2.17 times oversubscribed, the company said in a press release. The issuance was comprised of three tranches, maturing in 6, 10 and 15 years. In April, Cemargos raised 300bn pesos through a bond issuance, with 18-month, two and three-year maturities, as part of the company's 1tn-peso bond issuance programme.

Cementos Argos net profit rises

26 April 2012, Published under Cement News

Cementos Argos, Colombia's largest cement producer, posted a net profit in 1Q12 of US$144m, from US$16m a year earlier. Operating revenue was US$587m, the company said in a statement Wednesday to regulators while EBITDA rose 40% last quarter from the same period a year earlier, to $110m. For the first quarter of 2012, revenues from the Division rose to COP$ 569bn, an increase of 34%. EBITDA was COP$189bn, an increase of 47% from March 2011 and a record high for the company. The EBITDA margi...

Inverargos shareholders approve name change, Colombia

30 March 2012, Published under Cement News

Shareholders of Inversiones Argos (Inverargos), the investment arm of Colombia's largest cement firm Cementos Argos, approved a name change to Grupo Argos during a meeting held on 29 March. The group also approved an annual dividend of 212 pesos per share to be paid in four installments, according to a company release. Grupo Argos holds a 61.4% stake in Cementos Argos, and controls 50.1% of investment group Celsia, formerly known as Colinversiones.