Cement News tagged under: Colombia

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Argos Board approves sale 20% stake in Argos Panamá

24 August 2016, Published under Cement News

The Board of Cementos Argos has approved the sale of 20 per cent of shares of Argos Panama for the sum of US$126m. Buyer is the Grupo Provivienda, controlled by Federico Salazar, a Colombian-Panamanian investor. The company is part of the Grupo Cusecar, which has 22 years of experience in the construction sector in Panama and Central America. The sale is part of Cementos Argos’ plan to raise funds for the financing of the Martinsburg plant in the US by a divestment of US$350m.

Colombia: Cementos San Marcos orders second Loesche mill

19 August 2016, Published under Cement News

One of Colombia’s most recent additions to its cement production base, Cementos San Marcos, has ordered its second Loesche mill for its plant located in Yumbo, some 20km north of Cali. The mill of choice is the Loesche mill Type LM 35.2+2, a sole VRM to be used for coal grinding at the cement plant. The classifier and plant ducting equipment will be included in the contract. The location of Cementos San Marcos’ works allows the company to benefit from a closer connection to regional build...

Cementos Argos 2Q16 US results remain strong

17 August 2016, Published under Cement News

For the second quarter Cementos Argos' cement volumes decreased by 1.9 per cent, totalling 3.5Mt, as a result of a challenging market environment in Colombia. These results were compensated by the US regional division, where Cementos Argos grew 16.3 per cent. In the ready-mix segment the company sold 3Mm 3 , up 1.1 per cent from the previous year. Cementos Argos registered double-digit growth in revenues, EBITDA and net income, driven by the US, Caribbean and Central America operations an...

Seizing opportunities

08 August 2016, Published under Cement News

Cementos Argos has expanded rapidly over the last decade from a local Colombian company to a multinational cement, concrete and aggregates player, competing successfully in a global business environment. ICR speaks with Cementos Argos’ CEO, Juan Esteban Calle, about the company’s continued rise. Juan Esteban Calle, CEO of Cementos Argos By the end of 2015 Cementos Argos had transformed its operations to encompass nine integrated cement plants in Colombia, three in the US and one...

Cemex Latin American Holdings sees improved cement volumes in Colombia

28 July 2016, Published under Cement News

Cemex Latin American Holdings' first-half turnover fell by 10.1 per cent to US$672.1m, while EBITDA came off by 4.4 per cent to US$226.1m. At the trading level there was a 4.3 per cent reduction to US$183.5m. After a net interest charge 27.6 per cent lower at US$29.4m, the pretax profit emerged 16.5 per cent higher at US$165.4m. The net attributable profit rose by 22 per cent to US$100.6m. Net debt at the end of June was 8.6 per cent lower than a year earlier at US$984m, giving a gearing lev...

Cementos Argos

22 July 2016, Published under Cement News

Colombia’s cement producers, such as Cementos Argos, will be encouraged by the signing earlier this month of a bilateral freetrade agreement between Colombia and South Korea. The agreement is designed to serve as a gateway to the Asia-Pacific markets for Colombia and a bridge to Latin America for Korean businesses, according to the Korean International Trade Association. With Colombia’s growing population and an economy expanding at over four per cent each year, South Korea sees itself...

Cementos Argos

29 June 2016, Published under Cement News

A boom in infrastructure projects in Colombia is driving a flurry of activity among its cement producers to increase capacity and upgrade existing facilities. Among these is Cementos Argos, which is currently constructing a new 1.4Mta plant in Sogamoso, Boyaca. The company has also awarded a contract to KHD Humboldt Wedag for three Pyrojet burners for coal and gas firing at its Yumbo factory in Cali. The Pyrojet burner represents the latest in technology advances for KHD burners and will ...

Colombian cement market contracts 5% in May

28 June 2016, Published under Cement News

Colombian cement deliveries in May slipped 5.3 per cent YoY in May, totalling 1.129Mt, according to the country’s statistics office, Dane. Output from Colombian cement factories fell 6.4 per cent to 1.057Mt. In the year to date, domestic dispatches remained stable at 5.056Mt while in the June 2015-May 2016 period increased 4.5 per cent to 12.808Mt.

Colombia's market expands 5.9% in April

03 June 2016, Published under Cement News

Cement dispatches in Colombia rose 5.9 per cent to 1.05Mt in April 2015, according to the country’s statistics office, Dane. Cement production in April reached 1.1Mt, up five per cent YoY and the highest output for April in the past eight years. By region, the department of Córdoba saw the highest increase in cement demand at 27.8 per cent, followed by Risaralda, with 20.8 per cent. Antioquia was reporting a variation of 9.5 per cent. Bolivar and Cesar recorded falls of 17.4 and 18.5 ...

US performance gives Cementos Argos strong 1Q16

27 May 2016, Published under Cement News

In the 1Q16 Cementos Argos reported an income of COP2.2trn (US$720.1bn), up 334 per cent compared to the same period in 2015. EBITDA ascended to COP425bn, a 38 per cent increase, while the EBITDA margin increased 60 basic points to close at 19.2 per cent. In March the company paid two loans acquired in 2015 with Banco de Crédito del Perú, totalling COP100bn. With this transaction, Grupo Argos' debt was COP1.55trn. The US regional division had outstanding performance thanks to better ...