Cement News tagged under: Colombia

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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...

Argos recognised for sustainability efforts

22 January 2015, Published under Cement News

Argos has been awarded a Silver Class distinction in Robeco SAM’s 2015 Sustainability Yearbook for the second consecutive year. The company was included in the Yearbook once again for having one of the best sustainability performances due to the results it obtained in the Dow Jones Sustainability Index survey. Private entity RobecoSAM independently assesses the sustainability performances of companies that are part of the Dow Jones Sustainability Index. It lists the most sustainable compan...

Cemex

06 January 2015, Published under Cement News

Cemex is restarting work on expanding the Tepeaca works in the state of Puebla, Mexico, that was halted in 2008, with a view of completing the expansion in 2017. This will require an additional US$200m to be spent on top of the US$450m spent up to 2008. When the work is completed, it is expected to raise Tepeaca’s capacity from the current 3.2 to 7.6Mta.   Cemex is building a new cement works in Colombia for completion in 2017. The equipment for the new Cementera del Magdalena Medio cement ...

Colombia: FLSmidth to supply 2800tpd Cemex line

23 December 2014, Published under Cement News

FLSmidth has been awarded the contract to supply a 2800tpd cement line for Cemex’s new Cementera del Magdalena Media cement plant in Antioquia, Colombia. The contract includes the engineering, project management and commissioning as well as all key production equipment, including an FRM mill for raw grinding, an ATOX coal mill, a five-stage ILC preheater with a low-NOx calciner, an FLSmidth Cross-Bar cooler and a two-pier kiln. In addition, Pfister weighing and dosing systems, MAAG gear re...

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.

Colombia’s October cement dispatches up 5.5%

02 December 2014, Published under Cement News

Cement dispatches in Colombia saw a 5.5 per cent YoY expansion to 1.09Mt in October 2014, according to the latest data published by Dane, the country’s statistics office. While construction companies and contractors consumed some 7.3 per cent less, this was offset by a 13.4 per cent sales advance in the retail segment. The department of Nariño saw an 86.1 per cent rise in sales, followed by Magdalena which registered a 24.5 per cent increase. Positive developments were also reported i...