Cement News tagged under: Panama

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Cement production in Panama falls 10%

30 August 2019, Published under Cement News

The drop-off in construction in Panama is being cited as the main reason for the depressed cement sector in the 1H19. According to data from the General Comptroller of the Republic, between 1H18 and 1H19, the total cost of construction went from US$662m to US$510m, which is equivalent to a fall of 23 per cent. Cement production totalled 749,235t in January to June 2019 and ready-mix concrete amounted to 614,210Mm 3 for the same period, a fall of 12 and 10 per cent, respectively, on 1H18....

Argos Panamá submits EIS for Balboa clinker plant

21 August 2019, Published under Cement News

Argos Panamá SA has submitted an environmental impact study for its Balboa project to the country’s Environment Ministry. The new clinker plant will be built on a 18ha plot in Buena Vista, Colón province. The works will include limestone crushers, raw material grinding and clinker production equipment as well as conveyors, according to CentralAmericaData. The project represents an investment of US$168m.

Panama improves cement quality requirements and standards

30 July 2019, Published under Cement News

Panama’s Minister of Trade and Industry, Ramón Martínez, signed two ministerial resolutions aimed at improving the requirements and standards of cement quality, both for domestic and imported cement. The new technical standard DGNTI-COPANIT 5-2019 of building, building materials, hydraulic cement sets out the chemical, physical and performance requirements of general and specialised cements, as well as the packaging, transportation, storage and use requirements. The Technical Regulation...

China accounts for 15% of Central American cement imports

07 January 2019, Published under Cement News

In the first half of 2018, Central America’s largest importing country was Nicaragua, which purchased cement from overseas sources to the value of US$28m, followed by Guatemala at US$18m. Smaller volumes were imported by El Salvador (US$12m), Honduras (US$7m), Panama (US$6m) and Costa Rica (US$5m), according to CentralAmericaData. YoY the volume of cement imports in the region advanced by two per cent from US$75.6m to US$77.1m in the 6M18 when compared with the year-ago period. Around 15...

Panama cement market forecast to contract by 13%

26 November 2018, Published under Cement News

Cement consumption in Panama is expected to fall by 13 per cent this year due to the economic slowdown, the strike by the trade union of construction workers, Suntracs, and a decline in construction permits. "We are seeing a 13 per cent drop this year and we perceive that next year will not be a good year either," explained José Luis González Habas, Cemex's planning director. In previous years, cement demand in Panama was close to 2Mta, peaking during the expansion of the Panama Canal but...

Cemex Latin American Holdings hurt by lower volumes in Colombia and Panama

27 April 2018, Published under Cement News

Cemex Latin American Holdings' turnover declined by 8.4 per cent in first quarter of the year to US$301.1m, while EBITDA came off by 28.8 per cent to US$65.9m. At the trading level there was a 36 2. per cent profit reduction to US$44.1m. After an 11.4 per cent decline in the interest charge to US$14.8m and other items, the pretax profit showed a 15.9 per cent reduction to US$48.2m and the net attributable profit emerged 15.3 per cent lower at US$30m.  Net debt at the end of March was 3.4 ...

Cemex Latin American Holdings depressed by Colombia

12 February 2018, Published under Cement News

Cemex Latin American Holdings saw turnover decline by 5.5 per cent to US$1315.3m and EBITDA fell by 26.7 per cent to US$310.8m, with the margin coming down from 32.2 to 25 per cent. The trading profit deteriorated by 51.5 per cent to US$151.5m and after a further 0.6 per cent increase in financial expenses to US$63.3m and other items, the pretax profit dropped by 66.2 per cent to US$83.7m. After tax and minorities, the net attributable profit was 67 per cent lower at US$46.1m. The net debt w...

A fragile but positive outlook

05 December 2016, Published under Cement News

While South America’s cement markets may have been considerably affected by the economic downturn, the Central American countries of Belize, Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua and Panama are hopeful of a better future. Domestic cement producers are looking for an upturn in cement demand, particularly following recent increases in their production capacities. By Rob Roy, ROI Economic Consulting, USA. In Honduras Argos operates the 1.3Mta Piedras Azules integrated...

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.

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...