Cement News tagged under: Cementos Argos
Cementos Argos20 December 2013, Published under Cement NewsCementos Argos has now finalised its acquisition of Lafarge’s 53.5 per cent stake in Honduran subsidiary Lafarge Cementos SA de CV. The deal, which is worth EUR232m (US$306m) includes a 1Mta integrated cement plant and a 0.3Mta grinding works. The transaction is based on an enterprise value of EUR435m, representing a 2012 EBITDA multiple of 8.6. This latest purchase follows Cementos Argos’ US$750m acquisition of Lafarge’s US assets in 2011, including a number of cement plants in southeast... |
Cementos Argos02 December 2013, Published under Cement NewsPanama’s continuing focus on infrastructure development is proving lucrative for leading cement producer Cementos Argos. The expansion of the Panama Canal now accounts for 30 per cent of revenue for Argos’ Panamanian subsidiary, which has been supplying materials to the project since 2009. The company is also providing cement for the construction of Central America’s first subway, the US$1800m Panama Metro. The first stage of construction, a 14km stretch of the metro system, is due for comp... |
Cementos Argos continues to thrive on Panama Canal project18 November 2013, Published under Cement NewsCementos Argos has found the Panama Canal expansion project to be a lucrative venture. The Colombian cement and concrete producer has been supplying materials for the construction of major infrastructure on the canal and connect schemes since 2009. Argos’ Panamanian subsidiary earns 30 per cent of its revenues from the expansion at present with the canal offering sales of 700,000Mta of cement up to next year. In addition, the Colombian company is providing concrete to the Aeropuerto... |
Cementos Argos28 October 2013, Published under Cement NewsIncreased activity in Colombia’s residential and commercial construction sector have boosted cement sales at Cementos Argos by four per cent to 8.5Mt in 9M13, compared to the same period last year. Consolidated EBITDA over the same period was also up by 23 per cent to over US$400m. Operating profit was up by almost 40 per cent YoY while consolidated revenue recorded a 12 per cent increase to just under US$2bn. Cement sales throughout Colombia have risen five per cent over the last nine mo... |
Argos to evaluate cement price cuts18 October 2013, Published under Cement NewsColombia’s vice president, Angelino Garzon, met with Cementos Argos directors to discuss cement pricing in the country. "I said it is very important that Argos can talk to other cement companies to help the Government to achieve a compromise which allows lower cement prices," said the official. Argos said it would review the pricing structure and seek a reduction in cement prices, in consultation with other cement companies. However, it said the recent price increases were due to highe... |
Lafarge03 October 2013, Published under Cement NewsLafarge has agreed the sale of its 53.3 per cent stake in its Honduras subsidiary Lafarge Cementos SA de CV to Cementos Argos for €232m, subject to the necessary official approvals. This represents an historic EBITDA multiple of 8.6. The company's assets include one integrated cement works with a capacity of 1Mta and an additional grinding centre with a 0.3Mta capacity. Lafarge Cement Zimbabwe saw first-half turnover decline by 6.1 per cent to US$32.2m and the EBITDA was off by 3.8 per ce... |
Lafarge sells Honduras operations to Cementos Argos03 September 2013, Published under Cement NewsLafarge announced the sale of its cement operations in Honduras to Cementos Argos for a total enterprise value of EUR435m, the France-based cement major announced in a statement today. This enterprise value represents a 2012 EBITDA multiple of 8.6. Lafarge owns 53.3 per cent of the Honduran subsidiary, Lafarge Cementos SA de CV. The assets sold comprise an integrated cement plant with a capacity of 1Mta and a grinding station with a 0.3Mta capacity. The transaction is subject to releva... |
Colombia's regulator investigates price fixing22 August 2013, Published under Cement NewsColombia's Superintendency of Industry and Commerce will be opening an investigation into the alleged price-fixing by five local cement companies. The regulator will examine whether Holcim (Colombia), Cementos Argos, Cementos Tequendama, Cemex Colombia and Cementos Marcos have been colluding in the setting of cement prices over the past three years. The regulator has said it will look into "an alleged agreement to fix prices and divide up the market”. The superintendency has claimed that... |
Argos sees higher volumes in 1H1323 July 2013, Published under Cement NewsCementos Argos has reported a rise in cement volumes for the six months to the end of June 2013 and expects activity in its domestic market of Colombia to accelerate after a slow start in the first three months. In the 1H13, Argos reported consolidated EBITDA of COP476bn (US$253m), representing an increase of 25 per cent compared to the same period in 2012, while revenues rose nine per cent YoY. During the period cement dispatches increased by one per cent to 5.5Mt while concrete volumes ... |
Cementos Argos issues US$765m to finance expansion plans10 May 2013, Published under Cement NewsColombia's leading cement producer Cementos Argos has issued COP1.4trn (US$765m) worth of preferred shares to finance expansion plans. The company sold the 182 million shares at COP7,700 each to both domestic and foreign investors, receiving offers worth COP2.1trn, the company said in a statement. It may sell another 32 million shares in a second round at the same price per share, it said. |