Cement News tagged under: Grupo Argos
US cement market boosted FY19 financial results28 February 2020, Published under Cement NewsThis week, several leading cement producers reported on their FY19 business results. ICR has taken a look at the results of HeidelbergCement, LafargeHolcim, Dangote Cement, Vicat and Argos to see what regional patterns can be discerned from the recent results of these industry players. In terms of cement sales volumes (see Table 1), growth was limited to less than one per cent in 2019. Argos saw the largest advance at 0.7 per cent, but LafargeHolcim was well behind the other producers with... |
Argos named as second most-sustainable cement company in the world16 September 2019, Published under Cement NewsArgos, part of Grupo Argos, was included for the seventh-consecutive year in the Dow Jones Global Index (DJSI) and was highlighted as the second most-sustainable cement company in the world. Companies were rated on their sustainable construction, materiality, risk and crisis management, tax strategy, environmental reporting, biodiversity, climate strategy, water related risk, social reporting, citizenship and philanthropy. Around 3500 companies of the largest in the world were studied acc... |
Grupo Argos interested in Summit Materials merger14 June 2019, Published under Cement NewsGrupo Argos has approached US aggregates and cement producer Summit Materials Inc about a merger, according to people familiar with the matter. The deal would expand Grupo Argos’ footprint, but it remains uncertain whether Summit Materials would be prepared to negotiate a deal with Argos, said Reuters. The news saw shares of Summit increase by 14 per cent to US$15.51, resulting in a US$1.8bn market capitalisation for the US company. However, as at the end of March, it had accumulated US$... |
Grupo Argos to invest COP2.6trn in subsidiaries in 201929 March 2019, Published under Cement NewsColombia’s Grupo Argos, parent company of Cementos Argos, has stated that it plans to invest around COP2.6trn (US$816m) in its cement, energy and construction subsidiaries this year. Cementos Argos, Celsia and Odinsa will be the focus of the spending, made possible by the increase in net profits for the group in 2018. "In the coming years we'll continue to be a relevant player in the infrastructure of the country and the continent," said Grupo Argos CEO, Jorge Mario Velasquez. |
Argos sells stake in port company16 August 2017, Published under Cement NewsGrupo Argos has sold its 50 per cent stake in a port operator to an investment fund managed by Goldman Sachs for about US$136m, Grupo Argos said in a statement on Monday. Compania de Puertos Asociados SA, called Compas, moves principally coal and cement through its ports in the Andean country. Argos' stake was sold to West Street Infrastructure Partners III, which is run by Goldman Sachs, for COP407bn. The sale price is two and a half times what Grupo Argos invested in the business in... |
Jorge Mario Velásquez appointed new Grupo Argos CEO11 November 2015, Published under Cement NewsGrupo Argos’ Board of Directors unanimously appointed Jorge Mario Velásquez as its new CEO, effective March 2016 following the retirement of incumbent chief, José Alberto Vélez. The selection process was headed by the Committee of Appointments and Retributions of the Board of Directors, mainly formed by independent members, and was supported by a firm specialised in selection of directive staff. Mr Velásquez (pictured right) has a BSc in Civil Engineering from Escuela de Ingenierías de... |
Grupo Argos to issue preferential shares in 1Q1512 November 2014, Published under Cement NewsColombian holding Grupo Argos is planning to issue a base amount of 50m preferential shares in the first quarter of 2015 on the local and international markets, subject to the approval from Colombia's financial watchdog. Argos, parent company of Colombia’s leading cement producer Cementos Argos, seeks to strengthen its equity and bolster growth. Details of the issuance could be given in mid-January 2015. Banca de Inversion Bancolombia, HSBC Securities and Bank of America Merrill Lyn... |
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... |
Argos looking to raise US$411m with bond issuance28 November 2012, Published under Cement NewsGrupo Argos is looking to raise up to COP750bn (US$411m) with the issuance of mandatory convertible bonds scheduled for November 27, local paper La República reported. Groupo Argos is the parent company of Colombia's largest cement firm, Cementos Argos. The placement, already approved by Colombian financial regulator Superfinanciera, will start with an initial value of COP500bn, with the possibility to be increased by COP250bn. The issuance was expected to include two-year and five-year... |
Grupo Argos merges port assets05 July 2012, Published under Cement NewsGrupo Argos has been authorised by its Board of Directors to merge its port assets with Muelles El Bosque Operador Portuario (MEBOP) and Terminal Marítima Muelles El Bosque. The company resulting from the merger will be 50% owned by Grupo Argos and the remaining 50% by the current shareholders of Muelles El Bosque, the Echavarría Obregón family and the Spanish group Ership (property of the Alvargonzález family from Asturias), with whom Grupo Argos has held a relationship of several years a... |