Cement News tagged under: Grupo Argos

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Gilinski launches offer for sizeable Grupo Argos stake

25 May 2022, Published under Cement News

In Colombia business tycoon Jaime Gilinski has launched a public acquisition offer for a sizeable stake in Grupo Argos. Mr Gilinski is seeking a stake of 26-32.5 per cent of Argos, which is the third company on the business magnate’s radar. He is willing to pay around 18 per cent more on the Argos share price, reported Notices Financieras. “The purchase price for each share will be US$4.08,” the regulator told the stock exchange in a statement late on 19 May. According to Reuters, the offe...

Argos North America Corp signs ESG-linked loan

16 August 2021, Published under Cement News

Argos North America Corp (Grupo Argos) entered into a new loan for US$300m, in which the interest rate is linked to CO 2 emission reduction indicators and an increase in the share of women in leadership positions.  Grupo Argos continues to demonstrate its concrete commitment in implementing positive Environmental Social Governance (ESG) practices with this initiative.  Cementos Argos SA and Argos USA LLC will act as guarantors in this operation. The financial entities with which the...

Climbing regional cement shipments for Argos in the 1H21

13 August 2021, Published under Cement News

Argos announced its 1H21 results this week with regional cement shipments climbing in the USA and in the Caribbean and Latin America.   In the USA cement volumes saw a solid increase of 5.7 per cent, because of the positive market dynamics in the country. Concrete volumes, on the other hand, fell 10.1 per cent with different behaviours throughout the territory and strongly affected by the intense rains, especially in Houston and Dallas.   Group revenues in the US during the semester re...

Argos cement exports to the USA grow by 419%

17 June 2021, Published under Cement News

For Argos, the Grupo Argos cement company, exports have been a key element in the process towards recuperation after the effects generated by COVID-19 and, in the first five months of the year, the cement company's exports to the USA grew by 419 per cent, from 26,000t to 135,000t. In the particular case of the USA, there has been a rebound in the demand for cement and it is estimated that this industry will grow by 2.2 per cent in 2021. It should be noted that the company has a competi...

Argos sees high 1Q21 cement volumes in Colombia and Central America

11 May 2021, Published under Cement News

In the 1Q21 Argos recorded consolidated income of US$651.6m and EBITDA was US$125.1m. This was thanks to better dynamics in all markets and a lower comparison base in Colombia, and the Caribbean and Central America.   Cement volumes reached 4.1Mt, thus representing an increase of 19 per cent compared to the 1Q20. Cconcrete shipments totalled 2Mm 3 , with a decrease of 4.4 per cent, mainly caused by weather conditions in the USA and a slower recovery of formal construction in Colomb...

Grupo Argos formalises COP392bn sustainable linked loan

28 April 2021, Published under Cement News

Grupo Argos and Bancolombia signed the first loan agreement tied to sustainability indicators in Colombia, where the interest rate is tied to the company’s performance on gender equality and climate change, in a financing agreement that modifies current conditions for close to COP392bn (US$106m) in debt and will have a five-year maturity. In this regard, the operation does not increase Grupo Argos' current levels of indebtedness.   This transaction recognises Grupo Argos' track record an...

Argos signs COP160bn ESG-linked performance loan with BBVA

15 March 2021, Published under Cement News

BBVA and Argos (Grupo Argos) signed a long-term financing agreement through a sustainable loan in an ESG-linked format for COP160bn (US$44.8m) where the loan includes a pricing adjustment mechanism that links the interest rate to the company’s ESG performance. This transaction is the first of its kind in Colombia and constitutes Grupo Argos' debut in sustainable financing. The loan granted by BBVA in Colombia to Cementos Argos includes an adjustment mechanism through which the int...

Argos USA ready-mix to settle alleged price-fixing case

06 January 2021, Published under Cement News

Argos group's ready-mix concrete subsidiary, Argos USA, is to settle a US$20m payment over an alleged price-fixing cartel involving several members of staff in the state of Georgia, USA. According to the US Department of Justice, Argos USA "admitted to participating in the charged conspiracy, and agreed to cooperate fully with the Antitrust Division's ongoing criminal investigation and prosecution of others involved in this conspiracy." Argos USA's management stated that the alleged pric...

Grupo Argos to cut costs by nearly US$245m in 2020

30 March 2020, Published under Cement News

Colombia’s Grupo Argos, parent of Cementos Argos, is expected to defer investments and cut spending by nearly COP1trn (US$245m) this year, amid uncertainty about the economic impact of the coronavirus, according to Reuters.  The group will postpone investments of COP700bn and cut costs by COP250bn. The measures will hit certain expansion projects, as the company looks to protect jobs and ensure its sustainability. "Today we have taken measures to postpone investments ... they haven't b...

Cementos Argos installs solar power unit in Honduras

12 March 2020, Published under Cement News

Colombia’s Celsia CV (Grupo Argos) has installed a 10.6MW solar plant at Cementos Argos’ facility in Comayagua, Honduras. The unit consists of 32,160 solar panels and will be able to meet 20 per cent of the cement plant's electrical demand. As a result, Cementos Argos should be able to avoid some 10,000tpa of CO 2 emissions. The project is Celsia’s first photovoltaic plant in Honduras.