Cement News tagged under: Colombia

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Cementos Argos 1H results impacted by challenging Colombian market

17 August 2018, Published under Cement News

Cementos Argos released its 2Q18 results this week with revenues up by 1.4 per cent at COP2.184trn (US$726bn) from COP2.154trn in 2Q17. The 1H18 revenue amounted to COP4.092trn, down from COP4.231trn in 1H17, a fall of 3.3 per cent. EBITDA and net income were affected by the US$24m fine imposed by the Superintendence and Commerce in Colombia. 2Q18 EBITDA amounted to COP328bn, down 11.2 per cent on the COP370bn of 2Q17. Adjusted EBITDA, excluding the fine reached COP404bn in 2Q18, was up 5.9 ...

Argos sees 2Q profit slide but notes improved 1H net income

14 August 2018, Published under Cement News

Colombia's cement market leader, Cementos Argos, saw revenues advance by 1.4 per cent to COP2.184trn (US$727m) in the 2Q18 from COP2.154trn in the year-ago period. Operating EBITDA fell by 11.2 per cent to COP328.3bn in 2Q18 when compared with COPCOP369.7bn in April-June 2017. In addition, Cementos Argos reported a 59.7 per cent drop in net profit to COP29.4bn in the April-June 2018 quarter, when compared to 2Q17. The company attributed the decline to a deceleration of construction markets...

Colombian cement market contracts 4% in June 2018

31 July 2018, Published under Cement News

National cement demand in Colombia declined 4.1 per cent to 943,200t in June 2018 from 983,500t in June 2017, according DANE, the country’s statistics office. The fall in consumption was attributed to a 12.4 per cent YoY drop in off-take by construction companies and contractors. Retail sales also fell by 3.8 per cent YoY. Ready-mix companies increased their purchases by 3.6 per cent while prefab segment buying was 7.3 per cent higher. In terms of regional demand, Bogotá saw sales fal...

Molsabana to transport cement by rail

25 July 2018, Published under Cement News

Colombia-based Molienda de la Sabana SAS (Molsabana) has signed a contract with Ibines Férreo, which will transport 320t of its cement every fortnight via the Bogotá-Belencito rail corridor. Molsabana owns a cement operation in Tocancipá, Cundinamarca and produces cement under the brand Fortecem. Established in 2013, the Tocancipá works is the successor to the 0.6Mta Sabanagranda works, whivh opened in 2004. This followed the commissioning of the 0.3Mta  Betania works in 2000 and th...

Ultracem joins the World Cement Association

19 July 2018, Published under Cement News

The World Cement Association (WCA) has welcomed the Colombian cement company Ultracem as a Corporate Member. The Association now has a membership made up of 69 members and representatives that cover 38 countries. "We are excited to welcome Ultracem to our membership, and particularly value their record of launching new environmental initiatives in the Colombian cement sector," said Norman Greig, WCA Secretary General. Founded in 2011, Ultracem has a cement capacity of 1.2Mta and its ceme...

Colombian dispatches slip 2% in May

02 July 2018, Published under Cement News

Grey cement dispatches in Colombia edged down 1.6 per cent in May 2018 to 0.984Mt from 0.999Mt in May 2017, according to the country’s statistics office, DANE. Cement sales were particularly strong in Valle del Cauca, where they rose by 8.3 per cent. However, in Bogotá they declined by 7.5 per cent and in Bolívar by 17.2 per cent. In Antioquia, another key domestic market, dispatches fell by 3.2 per cent. Of the 0.984Mt total, around 51.3 per cent was delivered to the retail market, wh...

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 ...