Cement News tagged under: Cementos Argos

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Argos to evaluate cement price cuts

18 October 2013, Published under Cement News

Colombia’s vice president, Angelino Garzon, met with Cementos Argos directors to discuss cement pricing in the country. "I said it is very important that Argos can talk to other cement companies to help the Government to achieve a compromise which allows lower cement prices," said the official. Argos said it would review the pricing structure and seek a reduction in cement prices, in consultation with other cement companies. However, it said the recent price increases were due to highe...


03 October 2013, Published under Cement News

Lafarge has agreed the sale of its 53.3 per cent stake in its Honduras subsidiary Lafarge Cementos SA de CV to Cementos Argos for €232m, subject to the necessary official approvals. This represents an historic EBITDA multiple of 8.6. The company's assets include one integrated cement works with a capacity of 1Mta and an additional grinding centre with a 0.3Mta capacity. Lafarge Cement Zimbabwe saw first-half turnover decline by 6.1 per cent to US$32.2m and the EBITDA was off by 3.8 per ce...

Lafarge sells Honduras operations to Cementos Argos

03 September 2013, Published under Cement News

Lafarge announced the sale of its cement operations in Honduras to Cementos Argos for a total enterprise value of EUR435m, the France-based cement major announced in a statement today. This enterprise value represents a 2012 EBITDA multiple of 8.6. Lafarge owns 53.3 per cent of the Honduran subsidiary, Lafarge Cementos SA de CV. The assets sold comprise an integrated cement plant with a capacity of 1Mta and a grinding station with a 0.3Mta capacity. The transaction is subject to releva...

Colombia's regulator investigates price fixing

22 August 2013, Published under Cement News

Colombia's Superintendency of Industry and Commerce will be opening an investigation into the alleged price-fixing by five local cement companies. The regulator will examine whether Holcim (Colombia), Cementos Argos, Cementos Tequendama, Cemex Colombia and Cementos Marcos have been colluding in the setting of cement prices over the past three years. The regulator has said it will look into "an alleged agreement to fix prices and divide up the market”. The superintendency has claimed that...

Argos sees higher volumes in 1H13

23 July 2013, Published under Cement News

Cementos Argos has reported a rise in cement volumes for the six months to the end of June 2013 and expects activity in its domestic market of Colombia to accelerate after a slow start in the first three months. In the 1H13, Argos reported consolidated EBITDA of COP476bn (US$253m), representing an increase of 25 per cent compared to the same period in 2012, while revenues rose nine per cent YoY. During the period cement dispatches increased by one per cent to 5.5Mt while concrete volumes ...

Cementos Argos issues US$765m to finance expansion plans

10 May 2013, Published under Cement News

Colombia's leading cement producer Cementos Argos has  issued COP1.4trn (US$765m) worth of preferred shares to finance expansion plans. The company sold the 182 million shares at COP7,700 each to both domestic and foreign investors, receiving offers worth COP2.1trn, the company said in a statement. It may sell another 32 million shares in a second round at the same price per share, it said.

Argos share offering open for 15 days, Colombia

18 April 2013, Published under Cement News

Colombia's largest cement maker, Cementos Argos, has opened for offers 250m preferred shares, a bookbuilding process to end on 8 May 2013 to raise between (US$1.05bn-US$1.27bn). Argos has set a range of between COP7700 and 9300 Colombian pesos ($4.20 to $5.07) per share for the offering, the company said in a statement published in local media. Argos said it will issue the shares in two stages. The company will first offer 182 million preferred shares, and plans to do a second issuanc...

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...