Cementos Argos in expansion mode

Cementos Argos will be expanding its business in 2015 with investments of over US$400m, according to Jorge Mario Velásquez, president of Argos.

He added that 2015 will be crucial for the company as it initiates a very important decade in the economy of US: “In the next 10 years in the US will see significant growth of the economy, it will be a dynamic decade, especially in the cement market where growth close to nine per cent is expected, accompanied by a recovery of prices are recorded, also in the states in which Argos operates the economy grows to 1.5 times the national rate."

However, Colombia will also remain an interesting market for the company, he says. "Argos is perhaps the Colombian producer best prepared to meet the growing demand. There is also an investment of US$93m to expand cement production capacity in central Colombia to 1Mta - this in addition to the 2.3Mta plant we expect to put into service by 2018".

While the company intends to monitor expansion opportunities in central American and Caribbean countries, it has ruled out market entry in Uruguay, Brazil and Canada.