Cement News tagged under: Colombia
Cementos Argos board approves bond issue07 October 2014, Published under Cement NewsThe board of Cementos Argos has authorised a bond issue of up to COP1trn (US$493m), proceeds from which will be used for working capital and debt payments, the company said in a statement. Cementos Argos, Colombia’s largest cement producer, will have three years to issue the paper, although typically bonds are released within a few months of the board's approval. The company, a subsidiary of Grupo Argos, raised 1 trillion pesos with two bond issues during 2012. "The resources from th... |
Colombian cement demand up 17% in August01 October 2014, Published under Cement NewsColombia’s cement consumption saw a 17.2 per cent rise to 1.020Mt in August 2014 when compared with the same month of 2013, according to the national statistic office, Dane. Major growth was noted in Nariño (+84 per cent), Boyacá (+54.2 per cent), Magdalena (+46.2 per cent) and Huila (+37.6 per cent) although Cundinamarca and Antioquia also recorded substantial growth of 27.5 and 22.7 per cent, respectively. In the year to date, cement demand rose 11.5 per cent YoY to 7.77Mta with Norte d... |
Argos constructs new innovation centre29 September 2014, Published under Cement NewsCementos Argos has started construction of a new Argos Innovation Centre, in Medellín, Colombia. The project is being developed alongside EAFIT University and will become a new meeting place for Argos’ employees, researchers, academics and the community, focussed on the fundamental goal of contributing to the cement and concrete industry’s technological and sustainable development. This innovation centre will work on the cement and construction industry’s biggest challenges, under two main... |
Cementos Argos to boost Colombian capacity with new 2.3Mta line16 September 2014, Published under Cement NewsCementos Argos is to expand its Sogamoso cement plant, located in the Boyacá department of Colombia, with a new 2.3Mta line, involving an investment of US$450m. The strategic location of the Sogamoso plant will enable the Colombian cement market leader to serve the Bogota market as well as growing demand in the centre of Colombia where around 70 per cent of cement consumption for the country’s infrastructure plant will be concentrated. As well as Bogota, the location of the plant allows fo... |
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... |
Cemex03 September 2014, Published under Cement NewsCemex Latam Holdings is to invest around US$340m in building an additional cement works in Colombia. The new cement works will be built in the Antioquia department, which is enjoying good economic growth. The first phase will include a grinding centre and should be completed during the second quarter of next year. The second, and final, phase is scheduled for completion during the 2H16. When completed, it should take company's Colombian cement capacity from around 4.5Mta to just under 5.5... |
Argos wins Social Responsibility Award02 September 2014, Published under Cement NewsArgos has become the first Colombian company to win the Social Responsibility Award, by the Inter-American Federation of the Construction Industry in partnership with the Latin American Development Bank. The accolade, given every two years, seeks to highlight Latin American companies in the construction industry. An Argos press release said the award recognises companies “who create clear goals of sustainability in social, environmental and economic dimensions, who create alliances with pu... |
Colombian monthly demand jumps 8.1%29 August 2014, Published under Cement NewsColombian cement consumption increased 8.1 per cent to 1.059Mt in July 2014 when compared with the same month a year ago, according to the country's statistics office, Dane. The rise has been attributed to a stronger demand from retail outlets and concrete companies. Increases were strongest in Huila (+25.6 per cent), Bolívar (+17.3 per cent), Cundinamarca (+16.2 per cent) and Antioquia (+9.8 per cent) while Córdoba saw demand fall by 25.4 per cent. Grey cement production in Colombia t... |
Cemex Latam to build new cement works15 August 2014, Published under Cement NewsCemex Latam Holdings is to invest around US$340m in building an additional cement works in Colombia. The new plant will be built in the Antioquia department, which is enjoying good economic growth. The first phase will include a grinding centre and should be completed during the second quarter of next year. The second, and final, phase is scheduled for completion during the second half of 2016. When completed, it should take company's Colombian cement capacity from around 4.5Mta to j... |
Argos considers acquiring Holcim and Lafarge Latin America divestments15 August 2014, Published under Cement NewsColombia's Cementos Argos is currently looking into acquiring the assets Lafarge and Holcim are planning to sell in Latin America, particularly Mexico and Brazil. However, it has not yet finalised any negotiations. "We are firstly interested in looking at Mexico and Brazil," said José Alberto Vélez, president of the Argos Group, in the local newspaper La República. "We have been watching with interest and enthusiasm, but have nothing concrete yet." Earlier this month, Holcim and Lafarge... |