Cement News tagged under: Colombia
Cementos Argos to boost Colombian capacity with new 2.3Mta line16 September 2014, Published under Cement NewsCementos 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 sale11 September 2014, Published under Cement NewsGrupo 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... |
Cemex03 September 2014, Published under Cement NewsCemex Latam Holdings is to invest around US$340m in building an additional cement works in Colombia. The new cement works will be built in the Antioquia department, which is enjoying good economic growth. The first phase will include a grinding centre and should be completed during the second quarter of next year. The second, and final, phase is scheduled for completion during the 2H16. When completed, it should take company's Colombian cement capacity from around 4.5Mta to just under 5.5... |
Argos wins Social Responsibility Award02 September 2014, Published under Cement NewsArgos has become the first Colombian company to win the Social Responsibility Award, by the Inter-American Federation of the Construction Industry in partnership with the Latin American Development Bank. The accolade, given every two years, seeks to highlight Latin American companies in the construction industry. An Argos press release said the award recognises companies “who create clear goals of sustainability in social, environmental and economic dimensions, who create alliances with pu... |
Colombian monthly demand jumps 8.1%29 August 2014, Published under Cement NewsColombian cement consumption increased 8.1 per cent to 1.059Mt in July 2014 when compared with the same month a year ago, according to the country's statistics office, Dane. The rise has been attributed to a stronger demand from retail outlets and concrete companies. Increases were strongest in Huila (+25.6 per cent), Bolívar (+17.3 per cent), Cundinamarca (+16.2 per cent) and Antioquia (+9.8 per cent) while Córdoba saw demand fall by 25.4 per cent. Grey cement production in Colombia t... |
Cemex Latam to build new cement works15 August 2014, Published under Cement NewsCemex Latam Holdings is to invest around US$340m in building an additional cement works in Colombia. The new plant will be built in the Antioquia department, which is enjoying good economic growth. The first phase will include a grinding centre and should be completed during the second quarter of next year. The second, and final, phase is scheduled for completion during the second half of 2016. When completed, it should take company's Colombian cement capacity from around 4.5Mta to j... |
Argos considers acquiring Holcim and Lafarge Latin America divestments15 August 2014, Published under Cement NewsColombia's Cementos Argos is currently looking into acquiring the assets Lafarge and Holcim are planning to sell in Latin America, particularly Mexico and Brazil. However, it has not yet finalised any negotiations. "We are firstly interested in looking at Mexico and Brazil," said José Alberto Vélez, president of the Argos Group, in the local newspaper La República. "We have been watching with interest and enthusiasm, but have nothing concrete yet." Earlier this month, Holcim and Lafarge... |
Argos plans innovation centre, Colombia01 August 2014, Published under Cement NewsCementos Argos is planning to develop an innovation centre in Colombia, covering an area of 4807m2, at a cost of COP23.70bn (US$12.73m). The centre will be carried out in partnership with the Universidad EAFIT in Medellín, where it will be located. The new facility, which will test new cement and concrete products as part of Argos' innovation drive, is expected to be completed next year. |
Double-digit rise in Colombian dispatches29 July 2014, Published under Cement NewsIn the first half of 2014, national cement demand in Colombia reached 5.690Mt, up 11.2 per cent when compared with the equivalent period of 2013, according to the country's statistics office, Dane. Consumption in Norte de Santander rose by 50.2 per cent, followed by Magdalena (30.8 per cent) and Huila (24 per cent), Cundinamarca (20.4 per cent), Antioquia (16.7 per cent) and Bogotá (4.7 per cent). Córdoba noted a 31.1 per cent decline in its dispatches. Domestic production advanced ... |
Argos sees strong performance in US division25 July 2014, Published under Cement NewsArgos closed the first half of 2014 with an 87 per cent increase in net profit driven by acquisitions and positive market trends, most notably in the US which generated earnings in the second quarter that were almost twice the EBITDA of full year 2013 in the regional division. The company's consolidated second quarter EBITDA rose to US$142m, some 11 per cent higher than the year before. Over the first six months of the year, EBITDA reached US$272m, 12 per cent higher YoY despite non-recur... |