Cement News tagged under: Cementos Argos

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Cementos Argos’ 2Q EBITDA advances 45% YoY

28 August 2015, Published under Cement News

Cementos Argos’ consolidated EBITDA increased by 45 per cent in the second quarter of 2015, reaching COP371bn. Consolidated revenues grew 26 per cent YoY to COP1.8trn, The US regional devision recorded an EBITDA of US$35m, up 44 per cent YoY.  Net income for the quarter jumped 211 per cent to COP142bn. Year-to-date cement dispatches increased by 14 per cent to 6.8Mt while ready-mix concrete volumes rose by four per cent to 5.5Mm3. Colombia In Argos’ domestic market of Colombia, c...

Cementos Argos inaugurates Innovation Center, Colombia

27 August 2015, Published under Cement News

Cementos Argos yesterday inaugurated its Innovation Center, based at the EAFIT University, Colombia, underlining the company commitment towards productive, competitive and sustainable growth. The Innovation Center has been designed to foster a collaborative environment, making laboratories available to researchers, students and scholars from different universities to find solutions for the cement and concrete industries in terms of materials, process and applications. “We see innovation...

Cementos Argos

24 August 2015, Published under Cement News

Cementos Argos, along with Colombia’s other cement manufacturers, will be keeping a close eye on the country’s currency as the peso fell to a record low earlier this month as oil prices continued to tumble. The recent decline marks a 37 per cent slide in the currency’s value against the US dollar over the last 12 months. An almost 60 per cent drop in oil prices over the last year has prompted Colombia’s Central Bank to revise down its 2015 growth forecast for a third time and keep its lendin...

Cementos Argos begins to pay 2014 dividends

08 July 2015, Published under Cement News

Colombian cement company Cementos Argos has started paying shareholder dividends corresponding to its 2014 to profits. Common stock shareholders will receive COP44.5/share. Those with preferential shares will receive COP57.75/share. Before 2015 ends, the firm will release dividend payments of COP253.30bn (US$96.06m), from a profit of of COP291.8bn achieved in 2014. Last year's profits were 59 per cent higher than those recorded in 2013. Cementos Argos recorded sales of over COP5trn in 2...

Argos reports solid start to the year

28 May 2015, Published under Cement News

Argos reported a solid first-quarter results, with a double-digit rise in cement volumes and  price recovery in both Colombia and the US. Consolidated revenues in the first quarter grew 27 per cent YoY, reaching COP1.7trn (US$669m). EBITDA was up by 18 per cent to COP307bn supported by structural improvements in al regional divisions as the group reported continuous achievements in operational efficiencies an discipline across al fronts of its organisation.  Net income for 1Q15 stood at C...

Argos acquires Puerto Rico operations

01 May 2015, Published under Cement News

Argos acquired a stake of 60 per cent in Wetvan Overseas, a company that controls a terminal for receiving, storing, selling and distributing cement in Puerto Rico, for an amount of more than US$18m. The remaining 40 per cent belongs to Grupo Vicini, a renowned Dominican business group that has investments across the Caribbean and Central America.   Thanks to this transaction, Argos will see its production capacity rise by 250,000tpa, thus ensuring a local market share of about 15 per cent i...

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, ...