Cement News tagged under: Cementos Argos

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Cementos Argos

26 March 2015, Published under Cement News

Findings from an investigation into alleged antitrust behaviour by Cementos Argos are due by mid-2015, according to Colombia’s Superintendency of Industry and Commerce (SIC). The findings will conclude an eight-year investigation into possible cartel-like practices by not only Argos but also the local subsidiaries of Cemex and Holcim. Claims that the companies colluded to inflate cement prices in the country date back as far as 2010.  The SIC also plans to present a bill in March this ...

Cementos Argos readies itself for 'vibrant' US market growth

26 March 2015, Published under Cement News

With US demand recovery on a roll, Cementos Argos is readying itself for 'vibrant' growth in the years ahead with the group having consolidated its presence in nine strategic states. Last year, Argos recorded historic overall results in terms of both income and EBITDA, which rose above US$2.9m and US$534m (growth of 17 and eight per cent, respectively). The company reported unprecedented consolidated figures in terms of cement and concrete sales volumes, dispatching 12.5Mt of cement and 11M...

Cementos Argos’ net profit surges 59%

26 February 2015, Published under Cement News

Colombia’s leading cement producer, Cementos Argos, said net profit jumped 58.8 per cent YoY in 2014, closing the year with record figures. Profit was up to COP291bn (US$145m), compared with the COP183bn registered in 2013. Operating income was up 16.8 per cent to COP5.8trn (US$2.9bn), EBITDA rose up 8.4 per cent to COP1.06trn (US$534m). Cement sales increased by eight per cent YoY to 12.5Mt, while concrete sales jumped 18 per cent to 11Mm 3 . Argos CEO, Jorge Mario Velásquez, commen...

Cementos Argos in expansion mode

10 February 2015, Published under Cement News

Cementos Argos will be expanding its business in 2015 with investments of over US$400m, according to Jorge Mario Velásquez, president of Argos. He added that 2015 will be crucial for the company as it initiates a very important decade in the economy of US: “In the next 10 years in the US will see significant growth of the economy, it will be a dynamic decade, especially in the cement market where growth close to nine per cent is expected, accompanied by a recovery of prices are recorded, ...

Cementos Argos may refinance short-term debt in 2015, Fitch

28 January 2015, Published under Cement News

The majority of Cementos Argos’ short-term debts due in 2015 are expected to be refinanced, according to an analysis of Colombian cement firm by Fitch Ratings. This move is anticipated due to the pressure on free cash flow during 2014 that was caused by the firm's aggressive acquisition programme, while the ratings agency believes that the business's liquidity is adequate and its funds from operations are stable. Cementos Argos has available credit worth COP2.20tn (US$922.43m), as well...

Argos to not bid for Lafarge/Holcim Brazilian assets

10 December 2014, Published under Cement News

Cementos Argos has decided not to not bid for the Brazilian assets that Lafarge and Holcim have put up for sale ahead of their planned merger. Colombia’s largest cement producer has informed the Superintendencia Financiera that it does not see such a purchase as being likely to generate the value its investments would expect. Argos had been in consultation with Itau Unibanco concerning a possible bid.

Grupo Argos to issue preferential shares in 1Q15

12 November 2014, Published under Cement News

Colombian holding Grupo Argos is planning to issue a base amount of 50m preferential shares in the first quarter of 2015 on the local and international markets, subject to the approval from Colombia's financial watchdog. Argos, parent company of Colombia’s leading cement producer Cementos Argos, seeks to strengthen its equity and bolster growth. Details of the issuance could be given in mid-January 2015. Banca de Inversion Bancolombia, HSBC Securities and Bank of America Merrill Lyn...

Cementos Argos 3Q14 net profit jumps 69%

29 October 2014, Published under Cement News

Cementos Argos, Colombia’s leading cement producer, posted a 69 per cent jump in net earnings for the first nine months of the year to COP217.5bn (US$111m), boosted by higher US sales. The company reported EBITDA of COP805bn (US$415m) between January and September, an eight per cent increase over the same period in 2013. Revenue was up 16 per cent to COP4.25trn. "The performance in the United States maintains a healthy growth dynamic," the statement said. "Volumes of cement and concrete sh...

Cementos Argos board approves bond issue

07 October 2014, Published under Cement News

The board of Cementos Argos has authorised a bond issue of up to COP1trn (US$493m), proceeds from which will be used for working capital and debt payments, the company said in a statement. Cementos Argos, Colombia’s largest cement producer, will have three years to issue the paper, although typically bonds are released within a few months of the board's approval. The company, a subsidiary of Grupo Argos, raised 1 trillion pesos with two bond issues during 2012. "The resources from th...

Argos constructs new innovation centre

29 September 2014, Published under Cement News

Cementos Argos has started construction of a new Argos Innovation Centre, in Medellín, Colombia. The project is being developed alongside EAFIT University and will become a new meeting place for Argos’ employees, researchers, academics and the community, focussed on the fundamental goal of contributing to the cement and concrete industry’s technological and sustainable development.   This innovation centre will work on the cement and construction industry’s biggest challenges, under two main...