Cement News tagged under: Cementos Argos
New Honduras plant for Cementos Argos02 February 2018, Published under Cement NewsCementos Argos has announced plans to build a new cement plant in Choloma, Honduras. The new grinding centre, with a production capacity of 0.44Mta, is expected to be commissioned by the end of the year. "We chose this location because it is an industrial municipality and that facilitates the arrival of new investments," said Gustavo Uribe, general manager of Argos Honduras. Cementos Argos plans to invest around HNL500m (US$21.2m) and boost production capacity by 30 ... |
New challenges for Colombia's market leader05 January 2018, Published under Cement NewsThis week the Colombian cement market has reported cement dispatches up by just 0.3 per cent YoY for November 2017. The latest ICR data suggests that while annual cement consumption in Colombia for 2017 was still down approximately -0.5 per cent, monthly returns have improved in recent months. In spite of this lacklustre growth, Cementos Argos managed increased volumes of 6.9 per cent in 2H17 in the domestic market, in part helped by the fall in national cement imports, which declin... |
Cementos Argos, Cemex and Holcim fined COP200bn13 December 2017, Published under Cement NewsColombia has fined Cementos Argos, Cemex and Holcim over COP200bn (US$66m) for fixing prices, according to Reuters. The fine has been applied to the companies and some of its managers. In total, the companies represent 96 per cent of Colombia’s cement market and allegedly agreed to set prices between January 2010 and December 2012. Cement prices in this period increased 29.9 per cent whilst inflation was just 9.3 per cent. Holcim released a statement protesting the fine applied by the ... |
Cementos Argos sets up waste recycling company11 December 2017, Published under Cement NewsColombian cement producer Cementos Argos announced the creation of Granulados Reciclados de Colombia, a company that will recycle construction waste into aggregates, bases and subbases. The new firm will operate from Argos' Cota plant in Cundinamarca and will process up to 200tph of waste into wood, metal, plastic and stone as well as up to 1Mta of construction waste. |
Cementos Argos launch Soluble Smart Pack Cement21 November 2017, Published under Cement NewsCementos Argos SA along with its local partners and distributor National Hardware (Guyana) Ltd launched its latest innovation, Soluble Smart Pack Cement, on Friday. A demonstration of the product was carried out at National Hardware, showing how the cement bag becomes mortar. The aim is to provide more environmentally-friendly ways of disposing of the cement bags. Argos said that: "innovation is the only way to remain competitive in order to offer the best and more efficient solutions t... |
Cementos Argos raises cement volumes by 16.7% in 3Q1713 November 2017, Published under Cement NewsCementos Argos reports in its 3Q17 results that consolidated cement volumes reached 4.2Mt, with a 16.7 per cent increase driven by positive dynamics in the company's operating regions and the consolidation of the Martinsburg plant operation. Concrete volumes decreased 6.1 per cent, due to the performance of Texas and Colombia. The adjusted EBITDA, excluding no-recurring items associated to the BEST programme, closed in COP428bn (US$143.2m), compared to COP398bn in 3Q16, with a 19.5 per... |
Cemex, Holcim, Cementos Argos face cartel allegations in Colombia16 October 2017, Published under Cement NewsCemex, Holcim and Cementos Argos have 20 days to respond to allegations of cartelisation in the Colombia’s cement market. If the evidence against the companies is found conclusive, they could be subject to fines of up to COP70bn (US$23.9m) per infraction. The investigation started in August 2013 when the Superintendency of Industry and Commerce (SIC) opened an investigation and formulated a statement of objections against Cementos Argos, Cemex, Holcim, Cementos Tequendama, Cementos San Ma... |
Argos sees challenges at home14 August 2017, Published under Cement NewsCementos Argos announced a net income of COP48bn (US$16m) for the second quarter of 2017 as the US and central America/Caribbean helped to mitigate challenging dynamics in its home market of Colombia. Revenues were down by 1.6 per cent YoY and EBITDA fell by 15.9 per cent YoY to COP367bn. The US was the main contributor to both revenues (54 per cent) and EBITDA (47 per cent). Consolidated cement volumes increased by 17.9 per cent in the second quarter of 2017 to 4.1Mt. “The ... |
FTC approves divestment of Martinsburg plant and related assets19 July 2017, Published under Cement NewsFollowing a public comment period, the US' Federal Trade Commission (FTC) has approved an application from HeidelbergCement AG and Italcementi SpA to sell the Essroc cement plant in Martinsburg (WV), eight cement terminals in the mid-Atlantic and related assets to Argos USA LLC, a subsidiary of Cementos Argos SA. The divestiture is required by the FTC's August 2016 final order settling charges that the merger of Heidelberg and Italcementi would likely harm competition in five regional mar... |
Cementos Argos 1Q revenues impacted by Colombia12 May 2017, Published under Cement NewsCementos Argos posted a 6.1 per cent decline in consolidated revenues for the first three months of the year, citing a challenging first quarter affected mainly by Colombia. Over 70 per cent of revenues and EBITDA came from operations outside of Colombia. The US continues to be its main market in terms of revenues, cement and ready-mix volumes. For the first time, the Caribbean and Central America group region was the leading contributor to EBITDA accounting for 43 per cent. Cement vo... |