Cement News tagged under: Panama

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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...

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...

Panama cement production falls 6.1% 12M ending May 2016

18 July 2016, Published under Cement News

Cement production in Panama fell 6.1 per cent in the last 12 months ending May 2016, when the country’s cement plants produced 812,616t, according to the General Controller of the Republic of Panama. In the corresponding period ending May 2015, output reached 864,570t. The decline has been attributed to the malaise in the country’s construction sector.

Cemex celebrates Panama Canal expansion inauguration

28 June 2016, Published under Cement News

As the Panama Canal expansion was successfully inaugurated on Sunday, Cemex celebrated along with other suppliers and local dignitaries. The company supplied close to 1Mt of specially-developed cement for the project.  “CEMEX congratulates the Government, the Panama Canal Authorities, and especially the Panamanian people for the key role they played in this iconic project, which will change the dynamics of global trade and economy,” said Fernando A. Gonzalez, CEO of CEMEX. “Our ability to...

Panama’s cement production drops 8.6%

24 February 2016, Published under Cement News

Cement production in Panama fell 8.6 per cent in 2015 as less product was required for the Panama Canal expansion. Total domestic output reached 1.996Mt, down from 2.184Mt in 2014. There was mixed news for the country’s construction sector with a YoY rise in residential building permits of 21.6 per cent to the value of PAB1251m. However, non-residential building permits decreased by 8.6 per cent to PAB820m.