Cement News tagged under: Colombia

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Mexico: Cemex shares climb on asset sale plan

24 August 2012, Published under Cement News

Cemex SA shares outperformed the broader Mexican equity market Wednesday, rising as much as seven per cent after the Mexican cement maker said it plans to sell a minority stake in its Latin American assets through a listing on Colombia's stock exchange. The sale, aimed at reducing Cemex's debt, will not include assets in its homebase. Cemex's shares trading in Mexico City were recently up 4.8 per cent.

Colombia: Cemex subsidiary applies to sell Latin American assets

22 August 2012, Published under Cement News

Cemex Latam Holdings SA, a wholly-owned subsidiary of Cemex España SA, presented to the Superintendencia Financiera de Colombia an application to list its shares on the Colombian stock exchange and to offer a minority of Cemex Latam’s shares in a public offering to investors. Cemex Latam's assets are expected to include substantially all of Cemex’s assets in Central and South America (excluding Mexico). This application is one component of the previously-announced asset sale alternatives ...

Cementos Argos positive sales trends continue

30 July 2012, Published under Cement News

Cementos Argos has reported positive operating figures for its cement division, continuing the trends seen in the first quarter of the year. Argos. In the second quarter of 2012 operating figures showed positive growth, giving continuity to the trends first seen in the first quarter. Cement sales for the April-June period stood at 4.9Mt and ready-mix concrete sales were 4.2Mm3.  In the Colombia division, cement sales were up six per cent and ready-mix concrete sales rose 19 per cent, c...

Grupo Argos merges port assets

05 July 2012, Published under Cement News

Grupo Argos has been authorised by its Board of Directors to merge its port assets with Muelles El Bosque Operador Portuario (MEBOP) and Terminal Marítima Muelles El Bosque.   The company resulting from the merger will be 50% owned by Grupo Argos and the remaining 50% by the current shareholders of Muelles El Bosque, the Echavarría Obregón family and the Spanish group Ership (property of the Alvargonzález family from Asturias), with whom Grupo Argos has held a relationship of several years a...

Colombian shipments rise 8.1% in 4M12

29 May 2012, Published under Cement News

During the first four months of 2012, Colombia reported rises in cement production and shipments, according to the Departamento Administrativo Nacional de Estadistica (Dane). Cement production reached 3.5Mt during the period, representing an increase of 6.2% YoY while domestic shipments rose 8.1% to reach 4.4Mt, Jorge Bustamante, director of Dane, said. The largest increases were seen in Cundinamarca (50.2%), Cesar (24.8%), Casanare (21.9%) and Santander (17.3%). However, April 201...

Cementos Argos bond offering, Colombia

18 May 2012, Published under Cement News

Colombia's largest cement firm, Cementos Argos raised COP700bn (US$389m) through its bond offering on May 16. The offering was 2.17 times oversubscribed, the company said in a press release. The issuance was comprised of three tranches, maturing in 6, 10 and 15 years. In April, Cemargos raised 300bn pesos through a bond issuance, with 18-month, two and three-year maturities, as part of the company's 1tn-peso bond issuance programme.

Argos gets green light for spin-off, Colombia

30 April 2012, Published under Cement News

Grupo Argos (formerly Inversiones Argos) and Cementos Argos received today the approval of the Colombian Financial Superintendence to spin-off certain non-cement assets, currently under Cementos Argos balance sheet, to be contributed into Grupo Argos. In exchange for these assets, Grupo Argos will issue preferred non-voting shares to Cementos Argos’ shareholders at 0.31 preferred shares of Grupo Argos per each share of Cementos Argos.

Cementos Argos net profit rises

26 April 2012, Published under Cement News

Cementos Argos, Colombia's largest cement producer, posted a net profit in 1Q12 of US$144m, from US$16m a year earlier. Operating revenue was US$587m, the company said in a statement Wednesday to regulators while EBITDA rose 40% last quarter from the same period a year earlier, to $110m. For the first quarter of 2012, revenues from the Division rose to COP$ 569bn, an increase of 34%. EBITDA was COP$189bn, an increase of 47% from March 2011 and a record high for the company. The EBITDA margi...

Inverargos shareholders approve name change, Colombia

30 March 2012, Published under Cement News

Shareholders of Inversiones Argos (Inverargos), the investment arm of Colombia's largest cement firm Cementos Argos, approved a name change to Grupo Argos during a meeting held on 29 March. The group also approved an annual dividend of 212 pesos per share to be paid in four installments, according to a company release. Grupo Argos holds a 61.4% stake in Cementos Argos, and controls 50.1% of investment group Celsia, formerly known as Colinversiones.

Colombian output and dispatches rise, uncertainties ahead

27 March 2012, Published under Cement News

Colombian cement production and dispatches have continued to rise in the first two months of 2012, however, uncertainty exists over near-term forecasts as the La Niña weather effect brings heavy rains to the country. In the first two months of the year, cement production in Colombia totalled 1.7Mt, 14.4 per cent over the same period of 2010, according to Colombia's national statistics office. Dane. Cement deliveries also increased 14.1 per cent to 1.6Mt during this period. "The upward ...