Cement News tagged under: Colombia
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. |
Cemex Latin American Holdings has a weaker first quarter26 April 2013, Published under Cement NewsCemex Latin American Holdings reported a 2.5 per cent decline in first quarter turnover to US$383.3m, but the EBITDA did improve by 8.1 per cent to US$140.7m. The increase at the trading level was a more modest 1.9 per cent to US$117.5m. After a net interest charge of US$29.4m, the pre-tax profit emerged at US$83.2m. Net debt at the end of March amounted to US$1514m, giving a gearing level of 119.9 per cent. Cement shipments in the quarter declined by 8.4 per cent to 1.69m, of w... |
Argos share offering open for 15 days, Colombia18 April 2013, Published under Cement NewsColombia's largest cement maker, Cementos Argos, has opened for offers 250m preferred shares, a bookbuilding process to end on 8 May 2013 to raise between (US$1.05bn-US$1.27bn). Argos has set a range of between COP7700 and 9300 Colombian pesos ($4.20 to $5.07) per share for the offering, the company said in a statement published in local media. Argos said it will issue the shares in two stages. The company will first offer 182 million preferred shares, and plans to do a second issuanc... |
Cementos Argos to issue shares to finance expansion, Colombia17 April 2013, Published under Cement NewsColombia’s largest cement producer Cementos Argos plans to issue up to 250m preferred shares to finance an expansion plan, the company said on Tuesday. Argos has set a range of between COP7700-9300 (US$4.20 to US$5.07) per share for the offering, the company said in a statement to Colombia's financial regulator. Argos is expected to give more details later this week, according to market sources. |
Colombia’s cement demand down 2.7% in February02 April 2013, Published under Cement NewsCement consumption in Colombia slipped 2.7 per cent YoY to 823,700t in February, according to Dane, the country’s national statistics bureau. Retail dispatches fell 5.7 per cent and were the key factor in the falling demand. Construction companies and contractors, on the other hand, increased their use by three per cent. Cement production fell 4.8 per cent YoY to 823,700t in February. In the past 12 months, consumption decreased by 3.2 per cent to 1.617Mt when compared with the yea... |
Colombia’s Argos closes 2012 with 25% rise in EBITDA26 February 2013, Published under Cement NewsArgos, Colombia’s largest cement producer, recorded a 25 per cent YoY rise in EBITDA in 2012 and an 82 per cent rise in operating income. The group, which also operates in the Caribbean and US, reported EBITDA of COP791,190m and operating income was COP414,566m. After incorporating the cement and concrete assets acquired in the southeastern US, consolidated revenues reached COP4,380,393m. "We traded in 10.8Mt of cement and 8.5Mm3 of concrete in Colombia, the Caribbean and the United S... |
Cemex Lat'Am publishes 2012 results07 February 2013, Published under Cement NewsAs a result of the flotation of a minority stake in the Central and South American operations of Cemex, Cemex Latin American Holdings' 2012 results have just been published for the first time, on the eve of the parent company's annual results announcement. The pro forma figures show a 25.4 per cent increase in turnover to US$1591.7m and an EBITDA advancing by 44.4 per cent to US$547.5m as the margin increased from 29.9 per cent to 34.4 per cent. The trading profit showed a 55.3 per cent a... |
Colombia’s cement output drops 1.3% in December 201231 January 2013, Published under Cement NewsColombia’s grey cement production fell 1.3 per cent YoY in December 2012 as output slipped to 948,400t, according to the national statistics agency DANE. In terms of dispatches, some 831,500t were sold on the national market, a 5.9 per cent YoY cut, attributed mainly to the 11.6 per cent drop in retail sales. However, builders and contractors increased their takeoff by 9.9 per cent. The largest contraction in dispatches was noted in Bogotá (-17.7 per cent) while Cundinamarca enjoyed a... |
Argos looking to raise US$411m with bond issuance28 November 2012, Published under Cement NewsGrupo Argos is looking to raise up to COP750bn (US$411m) with the issuance of mandatory convertible bonds scheduled for November 27, local paper La República reported. Groupo Argos is the parent company of Colombia's largest cement firm, Cementos Argos. The placement, already approved by Colombian financial regulator Superfinanciera, will start with an initial value of COP500bn, with the possibility to be increased by COP250bn. The issuance was expected to include two-year and five-year... |
Holcim continues Colombian feasibility study26 November 2012, Published under Cement NewsHolcim approved the continuation of the feasibility study to build a new cement plant in Colombia. According to Miguel Angel Rubalcava, Holcim’s president in Colombia, the investment is around US$600m. "We are evaluating the departments of Bolivar and Antioquia, as possible locations for its site but we have not decided," he said. The new 2Mta works would generate about 1000 direct and indirect jobs and would benefit from the latest technology, minimal environmental impact and maximum ... |