Cement News tagged under: Colombia

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Cemex Colombia to study solar farm construction

29 June 2018, Published under Cement News

Cemex Colombia, the mayor of Ibague and LG announced they will initiate the technical, economic and legal studies required to build a solar farm that will supply sustainable power Tolima’s public lighting system. The farm would be located on a 56ha site, owned by the Mayor’s Office on the Doima-Buenos Aires highway. Around 16ha of solar panels would be installed. The electricity generated could also be used at Cemex’s Tolima cement plant to reduce greenhouse gases.

Colombia’s State Council ratifies Holcim pricing sanction

25 June 2018, Published under Cement News

Following Colombia’s State Council confirmation of a million-dollar sanction imposed by the Superintendency of Industry and Commerce against Cemex Colombia, the country’s High Court confirmed the fine of COP923m to Holcim Colombia SA. The fine was first imposed in 2008 but Holcim Colombia had appealed. The State Council said that there are indications about the existence of market share agreements and allocation of production quotas between the companies Holcim Colombia SA, Cemex Colombia...

State Council confirms penalties issued by SIC to Cemex Colombia

20 June 2018, Published under Cement News

Colombia’s State Council has confirmed the COP923m (US$315,784) and COP138m penalties issued by the Superintendence of Industry and Commerce (SIC) to Cemex Colombia SA, according to El Universal. "The ruling reveals the emergence of indications about the existence of market share agreements and the allocation of production quotas between the companies Cemex Colombia SA, Holcim Colombia SA and Argos, which affected the behaviour of prices, the effect of supply and the handling of grey cemen...

April dispatches in Colombia see 14% rise

31 May 2018, Published under Cement News

Deliveries to the Colombian cement market increased 13.9 per cent YoY to 1.025Mt in April 2018, according to the country’s national statistics office, DANE. Antioquia reported a 17.2 per cent rise YoY while in Valle del Cauca and Magdalena, market expansion reached 25.5 and 37.8 per cent, respectively. The Bogotá market remained largely stable while Cundinamarca noted a 3.9 per cent advance. Atlántico saw sales rise by 15.7 per cent while in Norte de Santander deliveries were up 14.1 per ...

Cementos Argos sees falling volumes

18 May 2018, Published under Cement News

Cementos Argos released its 1Q18 results this week , announcing revenues of COP1.9trn (US$670m), but cement sales fell by 4.1 per cent to 3.7Mt and ready-mix volumes by 7.5 per cent to 2.4Mm 3 . ICR reviews the state of Cementos Argos' regional markets and guidance going forward. The outlook for the cement and ready-mix market for the rest of the year remains positive, mainly boosted by the residential segment, which is expected to continue gaining momentum, supported by the solid fundam...

Argos consolidated EBITDA jumps 31% in 1Q18

14 May 2018, Published under Cement News

Argos has announced revenues of COP1.9trn (US$670m) and a net profit of COP54.bn in the first three months of 2018. EBITDA increased 31 per cent YoY to COP371bn. However, cement sales fell by 4.1 per cent to 3.7Mt while concrete sales volumes fell 7.5 per cent to 2.4Mm 3 . The lower volumes have been attributed mainly to the winter season that affects some US states to a greater extent as well as a large number of holidays in Colombia and the Caribbean. Demand from the housing segment was ...

Colombia's cement market contracts 10% in March

01 May 2018, Published under Cement News

Cement deliveries in the Colombian cement market fell 9.9 per cent YoY to 976,300t in March, according to the country’s national statistics office, DANE. Around 68 per cent, or 668,700t of this total was supplied as bagged cement with a further 307,600t as bulk product. Deliveries to the country’s largest market, Bogotá, declined by 9.9 per cent while the key markets of Antioquia and Cundinamarca also reported significant decreases of 10.4 and 17 per cent, respectively. Further drops were...

Cemex Latin American Holdings hurt by lower volumes in Colombia and Panama

27 April 2018, Published under Cement News

Cemex Latin American Holdings' turnover declined by 8.4 per cent in first quarter of the year to US$301.1m, while EBITDA came off by 28.8 per cent to US$65.9m. At the trading level there was a 36 2. per cent profit reduction to US$44.1m. After an 11.4 per cent decline in the interest charge to US$14.8m and other items, the pretax profit showed a 15.9 per cent reduction to US$48.2m and the net attributable profit emerged 15.3 per cent lower at US$30m.  Net debt at the end of March was 3.4 ...

Colombia: SIC confirms cartelisation sanctions

24 April 2018, Published under Cement News

The Colombian Superintendent of Industry and Commerce (SIC) has ratified sanctions imposed in December on Argos, Holcim Colombia and Cemex Colombia, for price cartelisation between 2010-12. The three cement producers have been fined a combined COP201,616m (US$71.7m). Cementos Argos will have to pay a fine of COP73,771m, the same sum already paid by Cemex at the start of this year. Holcim’s fine amounts to COP54,074m. Following an indication that they will pay the fine in the next few d...

Colombian cement deliveries fall 5% in February

29 March 2018, Published under Cement News

Colombia’s grey cement sales contracted 4.8 per cent YoY to 959,500t in February 2018, according to DANE, the national statistics office. Dispatches to Norte de Santander registered the largest growth at 43.9 per cent YoY, followed by Valle del Cauca, where deliveries expanded by 6.3 per cent. The Bogotá market contracted 14.8 per cent YoY while dispatches to Cundinamarca and Santander were also significantly reduced by 12.2 and 16.6 per cent, respectively. Cement production in Februar...