Cement News tagged under: Cementos Argos

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Argos wins Social Responsibility Award

02 September 2014, Published under Cement News

Argos has become the first Colombian company to win the Social Responsibility Award, by the Inter-American Federation of the Construction Industry in partnership with the Latin American Development Bank. The accolade, given every two years, seeks to highlight Latin American companies in the construction industry. An Argos press release said the award recognises companies “who create clear goals of sustainability in social, environmental and economic dimensions, who create alliances with pu...

Argos considers acquiring Holcim and Lafarge Latin America divestments

15 August 2014, Published under Cement News

Colombia's Cementos Argos is currently looking into acquiring the assets Lafarge and Holcim are planning to sell in Latin America, particularly Mexico and Brazil. However, it has not yet finalised any negotiations. "We are firstly interested in looking at Mexico and Brazil," said José Alberto Vélez, president of the Argos Group, in the local newspaper La República. "We have been watching with interest and enthusiasm, but have nothing concrete yet." Earlier this month, Holcim and Lafarge...

Argos plans innovation centre, Colombia

01 August 2014, Published under Cement News

Cementos Argos is planning to develop an innovation centre in Colombia, covering an area of 4807m2, at a cost of COP23.70bn (US$12.73m). The centre will be carried out in partnership with the Universidad EAFIT in Medellín, where it will be located. The new facility, which will test new cement and concrete products as part of Argos' innovation drive, is expected to be completed next year.

Argos sees strong performance in US division

25 July 2014, Published under Cement News

Argos closed the first half of 2014 with an 87 per cent increase in net profit driven by acquisitions and positive market trends, most notably in the US which generated earnings in the second quarter that were almost twice the EBITDA of full year 2013 in the regional division. The company's consolidated second quarter EBITDA rose to US$142m, some 11 per cent higher than the year before. Over the first six months of the year, EBITDA reached US$272m, 12 per cent higher YoY despite non-recur...

Solid first quarter for Cementos Argos

28 April 2014, Published under Cement News

Cementos Argos posted first-quarter net income of US$39m, up 51.7 per cent compared to the first quarter 2013. The company attributed the increase in net income in part to the inclusion of the results from a recently acquired operation in Honduras, as well as 24 days of results from new assets in Florida, company representatives explained during an investor's conference call. “The significant increase of our profitability across all of the company’s three regional divisions, the still i...

Colombia’s Argos invests in new Cartagena distribution centre

24 March 2014, Published under Cement News

Cementos Argos will be investing US$35.2m in a new distribution centre in Cartagena, announced the company’s president Jorge Mario Velasquez at the shareholders’ meeting. The new distribution centre will increase the company’s dispatch capacity to 1.3Mta of bagged cement and 1Mta of bulk cement. The investment will primarily benefit the company’s logistics in the north of the country.

Argos increases cement price in Honduras

07 March 2014, Published under Cement News

Argos Honduras will increase the price of its cement as of Tuesday, 11 March after it received government authorisation to raise prices by HNL8/bag. A 42.5kg bag of Piedra Azul cement will cost HNL168. The company had sought a price hike of eight per cent or HNL11. "We have been meeting with executives from Argos, after more than a month and a half of analysis costs we believe that the company has had significant increases in the structure of its business operations and is able to reque...

Vulcan sells cement assets to Cementos Argos

24 January 2014, Published under Cement News

Vulcan Materials has agreed the sale of all of its cement activities, as well as certain downstream assets, to Cementos Argos for US$720m in cash. The deal, which is still subject to formal approval, is expected to be completed later during the first quarter. Vulcan will continue to supply aggregates to the assets being sold for a period of 20 years. The assets being deposed of consist of the Newberry, Florida, cement works and cement terminals and griding works at Tampa and at Port Manat...

Cementos Argos

20 December 2013, Published under Cement News

Cementos Argos has now finalised its acquisition of Lafarge’s 53.5 per cent stake in Honduran subsidiary Lafarge Cementos SA de CV. The deal, which is worth EUR232m (US$306m) includes a 1Mta integrated cement plant and a 0.3Mta grinding works. The transaction is based on an enterprise value of EUR435m, representing a 2012 EBITDA multiple of 8.6. This latest purchase follows Cementos Argos’ US$750m acquisition of Lafarge’s US assets in 2011, including a number of cement plants in southeast...

Cementos Argos

02 December 2013, Published under Cement News

Panama’s continuing focus on infrastructure development is proving lucrative for leading cement producer Cementos Argos. The expansion of the Panama Canal now accounts for 30 per cent of revenue for Argos’ Panamanian subsidiary, which has been supplying materials to the project since 2009. The company is also providing cement for the construction of Central America’s first subway, the US$1800m Panama Metro. The first stage of construction, a 14km stretch of the metro system, is due for comp...