Cement News tagged under: Colombia

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Cementos Argos to fire Rioclaro kiln with tyres

14 November 2014, Published under Cement News

Colombia’s Cementos Argos will be using tyres to fire its Rioclaro kiln with the option to extend the programme to its other plants. In Colombia, 110,000t, or 7m, of waste tyres are produced annually, of which 2.5m in Bogotá. The Argos project will be able to use around 75 per cent of this national volume.

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...

Colombia's cement market expands 11% in September

28 October 2014, Published under Cement News

Cement dispatches in Colombia rose 10.6 per cent YoY in September to 1.086Mt, according to the country’s statistics office, Dane. Grey cement production reached 1.072Mt, registering an increase of 6.9 per cent YoY. The largest increase occurred in Nariño (+104.8 per cent) but a sizeable rise in dispatches also took place in Magdalena (+37.1 per cent), Huila (+24 per cent), Cundinamarca (+13.9 per cent), Atlántico (+12.6 per cent), Bolivár (+12.5 per cent), Valle del Cauca (+10.8 per cent)...

Mexican and Colombian imports to help meet Nicaragua project

10 October 2014, Published under Cement News

Imports from Mexico and Colombia can ensure the supply of cement for the Gran Canal Interoceanico project in Nicaragua, according to the president of the High Council of Private Enterprise, José Adán Aguerri. He added that steps were being taken to further research supply options in the wider region, including the Caribbean, with the help of the private sector. However, the area faces supply shortages, which are expected to require further capacity building by cement companies. For example...

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...

Colombian cement demand up 17% in August

01 October 2014, Published under Cement News

Colombia’s cement consumption saw a 17.2 per cent rise to 1.020Mt in August 2014 when compared with the same month of 2013, according to the national statistic office, Dane. Major growth was noted in Nariño (+84 per cent), Boyacá (+54.2 per cent), Magdalena (+46.2 per cent) and Huila (+37.6 per cent) although Cundinamarca and Antioquia also recorded substantial growth of 27.5 and 22.7 per cent, respectively. In the year to date, cement demand rose 11.5 per cent YoY to 7.77Mta with Norte d...

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...

Cementos Argos to boost Colombian capacity with new 2.3Mta line

16 September 2014, Published under Cement News

Cementos Argos is to expand its Sogamoso cement plant, located in the Boyacá department of Colombia, with a new 2.3Mta line, involving an investment of US$450m. The strategic location of the Sogamoso plant will enable the Colombian cement market leader to serve the Bogota market as well as growing demand in the centre of Colombia where around 70 per cent of cement consumption for the country’s infrastructure plant will be concentrated. As well as Bogota, the location of the plant allows fo...

Grupo Argos raises US$509m in bond sale

11 September 2014, Published under Cement News

Grupo Argos, the parent company of Colombia's leading cement producer Cementos Argos, has raised COP1trn (US$509.4m) in a bond sale on Wednesday that was more than doubly oversubscribed, the company said in a filing to the financial regulator. Grupo Argos said the issue enabled it to restructure debt which it said would now come due in 6.3 years instead of 1.5 years, a period it said matched its investment needs well. More than half the bonds sold will come due in 10 or 15 years though o...