Cement News tagged under: Colombia

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Cemex to bring forward Caracolito expansion, Colombia

07 April 2015, Published under Cement News

Cemex is bringing forward the expansion of Caracolito plant in Colombia, the corporate affairs vice-president of the company’s Mexican division has said. Daniel Suarez told local news that the project consists of the expansion of the existing quarry with an additional 11ha, a complete reconstruction of the kilns and the replacement of air filters. Encouraged by the positive outlook and business environment in Colombia, Cemex also building a new US$340m cement works in Antioquia.  The firs...

Colombia: Feb cement sales up 6.1%

01 April 2015, Published under Cement News

Colombia saw a 6.1 per cent YoY rise in cement dispatches in February as 985,300t of the product were delivered, according to DANE, the national statistics office. The largest increases were experienced in Nariño (+52.1 per cent), Bolívar (+37 per cent), Antioquia (+17 per cent) and Bogotá (7.7 per cent). Production in the second month of 2015 reached 1.034Mt, an 13.3 per cent advance when compared with February 2014. In the 2M15, deliveries increased 10 per cent YoY to 1.913Mt while...

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...

Colombia dispatches up 14.5% in January

27 February 2015, Published under Cement News

The Colombian cement market expanded by 14.5 per cent YoY in January 2015 as the country’s cement producer dispatched 927,800t of cement, according to the latest figures by national statistics office, Dane. Output rose 8.3 per cent to 0.9Mt when compared with January 2014. The strongest demand growth occurred in Nariño (+165 per cent), Cesar (+37 per cent), Magdalena (+36 per cent),  while Antioquia and Bolivar saw dispatches rise by 25 per cent.

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

03 February 2015, Published under Cement News

For the second year running, Cementos Argos has been recognised for its sustainability efforts by clinching the Silver Class distinction in RobecoSAM’s 2015 Sustainability Yearbook. RobecoSAM is a private organisation that independently assesses companies that are part of the Dow Jones Sustainability Index, looking at their commitment to economic, environmental and social sustainability. Each year more than 3000 companies are invited to participate. “At Argos, sustainability is one of the...

Colombian cement market expands 10.3% in 2014

03 February 2015, Published under Cement News

Colombian cement consumption increased by 10.3 per cent to 11.9Mt in 2014, according to the country’s statistics service, Dane. The restart of civil works and the start-up of social housing projects is behind the upturn. Major market expansion occurred in the provinces of Nariño (49.2 per cent), Norte de Santander (20.4 per cent), Huila (21.3 per cent) and Cundinamarca (17 per cent). Output from domestic cement plants also rose, by 10.2 per cent to 12.3Mt.

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...