Cement News tagged under: Colombia

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US Department of Justice to investigate Cemex over Maceo plant payments

15 March 2018, Published under Cement News

The US Department of Justice is investigating Mexico's Cemex SA over payments concerning the construction of the Maceo cement plant in Colombia. Cemex is being investigated over whether it violated federal bribery laws. Cemex said in a filing Monday that it had received a federal grand jury subpoena related to the Colombian project, located in the municipality of Maceo. According to a September 2016 filing, Cemex paid roughly US$20m to a non-governmental employee of CI Calizas y Minera...

Colombia's cement sales slip in January

02 March 2018, Published under Cement News

Colombia's cement market contracted by 0.5 per cent YoY in January 2018 to 0.908Mt, according to DANE, the country’s statistics office. The drop is attributed to a 3.4 per cent lower offtake by construction companies and contractors as well as a 2.6 per cent fall in sales to ready-mix concrete companies. The prefabricated segment increased its requirement by 41.8 per cent. In terms of geographical distribution, the Greater Bogotá area saw its sales fall by 8.5 per cent and Córdoba by 3...

Cementos Molins reports 40% YoY rise in net profit in 2017

02 March 2018, Published under Cement News

Cementos Molins posted a net profit of EUR89.1m (US$109.4m) in 2017, which represents a YoY advance of 39.5 per cent. Consolidated turnover for the year increased 15 per cent YoY to EUR645.6m. The company’s revenues were supported by its international subsidiaries which expanded by 16 per cent, particularly its Argentine subsidiary, which saw its sales rise by 23 per cent. Subsidiaries in Spain increased their turnover by 13.5 per cent, particularly in the concrete and aggregate segment. ...

Cementos Argos

22 February 2018, Published under Cement News

Cementos Argos has reported consolidated cement volumes of 4.04Mt in 4Q17, up 17.6 per cent compared to the same period last year. This takes the full-year volume to 16.275Mt, an increase of 16.5 per cent YoY. According to the company, the increase in volumes is due to “positive dynamics” in the US and Central America and the Caribbean regions. Revenue in 4Q17 came in at COP2107bn (US$729m), an advance of 5.1 per cent versus 4Q16, with full-year revenue of COP8533bn, a YoY improvement of ...

Cemex conducting pilot tests for Magdalena river transport

14 February 2018, Published under Cement News

To improve its operational efficiency, Cemex has started running pilot tests to transport cement via the Magdalena River in Colombia. Cement is transported from central Colombia to the Caribbean region during these trials. On the first trip, some 950t were transported from the main plant at Caracolito to Sociedad Portuaria de Barranquilla. The river journey took six days with the entire trip from Ibague via Barrancabermeja to Barranquilla taking 17 days. For Juan Carlos Muñoz, vice pre...

Cementos Argos sees revenues rise, but Colombia challenges income

13 February 2018, Published under Cement News

Argos reported an improvement in its revenues for 4Q17 with stable sales for the full-year 2017. While EBITDA results fell both for 4Q17 and 2017, adjustment for non-recurring severance payments and anticipated pensions took out some of the sting as adjusted EBITDA margins for 4Q17 and 2017 reached 17.8 and 17.3 per cent, respectively. However, positive dynamics in the USA and the Caribbean and Central America regions could not fully offset a more challenging home market in Colombia and the ...

Cemex Latin American Holdings depressed by Colombia

12 February 2018, Published under Cement News

Cemex Latin American Holdings saw turnover decline by 5.5 per cent to US$1315.3m and EBITDA fell by 26.7 per cent to US$310.8m, with the margin coming down from 32.2 to 25 per cent. The trading profit deteriorated by 51.5 per cent to US$151.5m and after a further 0.6 per cent increase in financial expenses to US$63.3m and other items, the pretax profit dropped by 66.2 per cent to US$83.7m. After tax and minorities, the net attributable profit was 67 per cent lower at US$46.1m. The net debt w...

Cemex speeds up Maceo opening

08 February 2018, Published under Cement News

Cemex Latam Holding has confirmed that it is solving the legal issues that prevent the opening of its new plant in Maceo, Antioquía, Colombia. The inauguration of the works was postponed in May 2017 after authorities found the plant did not have all required permits to start operation. Jaime Muguiro, the company’s president, said the company was still awaiting authorisation for the capacity expansion. At present, capacity is limited to 0.25Mta, but Mr Muguiro indicated that the facili...

Colombia cement consumption slips 1% YoY in 2017

02 February 2018, Published under Cement News

In full-year 2017 the Colombian cement market contracted by 1 per cent to 11.983Mt. The trend has been attributed to a 4.9 per cent fall in offtake from concrete companies.  Dispatches of grey cement in Colombia decreased by 5.8 per cent to 948,300t in December 2017 when compared with the previous year, according to DANE, the country’s statistics office. Grey cement production in December 2017 fell 7.1 per cent YoY to 1.020Mt. In terms of departments, Casanare was most affected by the ...

Cemex Colombia to pay SIC fine, object via litigation

08 January 2018, Published under Cement News

Cemex Colombia announced that it proceeds to pay the value of the fine imposed by the country's Superintendency of Industry and Commerce (SIC) in September 2013, amounting to the sum of US$25.3m. The investigation is in line with Resolution 81391 of 11 December 2017 which saw the SIC fine Cemex Colombia, along with Cementos Argos and Holcim Colombia) and to six individuals for price fixing of grey cement in the national market. The company decided not to file an appeal for reversal ag...