Cement News tagged under: Colombia
Grupo Argos merges port assets05 July 2012, Published under Cement NewsGrupo Argos has been authorised by its Board of Directors to merge its port assets with Muelles El Bosque Operador Portuario (MEBOP) and Terminal Marítima Muelles El Bosque. The company resulting from the merger will be 50% owned by Grupo Argos and the remaining 50% by the current shareholders of Muelles El Bosque, the Echavarría Obregón family and the Spanish group Ership (property of the Alvargonzález family from Asturias), with whom Grupo Argos has held a relationship of several years a... |
Colombian shipments rise 8.1% in 4M1229 May 2012, Published under Cement NewsDuring the first four months of 2012, Colombia reported rises in cement production and shipments, according to the Departamento Administrativo Nacional de Estadistica (Dane). Cement production reached 3.5Mt during the period, representing an increase of 6.2% YoY while domestic shipments rose 8.1% to reach 4.4Mt, Jorge Bustamante, director of Dane, said. The largest increases were seen in Cundinamarca (50.2%), Cesar (24.8%), Casanare (21.9%) and Santander (17.3%). However, April 201... |
Cementos Argos bond offering, Colombia18 May 2012, Published under Cement NewsColombia's largest cement firm, Cementos Argos raised COP700bn (US$389m) through its bond offering on May 16. The offering was 2.17 times oversubscribed, the company said in a press release. The issuance was comprised of three tranches, maturing in 6, 10 and 15 years. In April, Cemargos raised 300bn pesos through a bond issuance, with 18-month, two and three-year maturities, as part of the company's 1tn-peso bond issuance programme. |
Argos gets green light for spin-off, Colombia30 April 2012, Published under Cement NewsGrupo Argos (formerly Inversiones Argos) and Cementos Argos received today the approval of the Colombian Financial Superintendence to spin-off certain non-cement assets, currently under Cementos Argos balance sheet, to be contributed into Grupo Argos. In exchange for these assets, Grupo Argos will issue preferred non-voting shares to Cementos Argos’ shareholders at 0.31 preferred shares of Grupo Argos per each share of Cementos Argos. |
Cementos Argos net profit rises26 April 2012, Published under Cement NewsCementos Argos, Colombia's largest cement producer, posted a net profit in 1Q12 of US$144m, from US$16m a year earlier. Operating revenue was US$587m, the company said in a statement Wednesday to regulators while EBITDA rose 40% last quarter from the same period a year earlier, to $110m. For the first quarter of 2012, revenues from the Division rose to COP$ 569bn, an increase of 34%. EBITDA was COP$189bn, an increase of 47% from March 2011 and a record high for the company. The EBITDA margi... |
Inverargos shareholders approve name change, Colombia30 March 2012, Published under Cement NewsShareholders of Inversiones Argos (Inverargos), the investment arm of Colombia's largest cement firm Cementos Argos, approved a name change to Grupo Argos during a meeting held on 29 March. The group also approved an annual dividend of 212 pesos per share to be paid in four installments, according to a company release. Grupo Argos holds a 61.4% stake in Cementos Argos, and controls 50.1% of investment group Celsia, formerly known as Colinversiones. |
Colombian output and dispatches rise, uncertainties ahead27 March 2012, Published under Cement NewsColombian cement production and dispatches have continued to rise in the first two months of 2012, however, uncertainty exists over near-term forecasts as the La Niña weather effect brings heavy rains to the country. In the first two months of the year, cement production in Colombia totalled 1.7Mt, 14.4 per cent over the same period of 2010, according to Colombia's national statistics office. Dane. Cement deliveries also increased 14.1 per cent to 1.6Mt during this period. "The upward ... |
Colombian cement sales up 14.2% in January02 March 2012, Published under Cement NewsColombian cement sales in January reached 868,400t, up 14.2% than in January 2011. In this month 823,3000t were shipped to the domestic market, which represented an increase of 11.7%. This increase in shipments was caused mainly by rises in deliveries to builder and contractor channels with 31.1%, and 22.8% with ready-mix concrete companies. Meanwhile, for the last 12 months to January 2012, cement production grew 13.7% over the previous year. In the same period,10,241,600t were shippe... |
Cements Argos: positive outlook after strong 2011 results27 February 2012, Published under Cement NewsCementos Argos, Colombia's largest cement producer, achieved more than COP3.6bn (US$2bn) in consolidated revenues for FY2011, representing YoY growth of 21% in peso terms as it reported strong performances in its Colombian and Caribbean divisions. In the US, results were still affected by the challenging conditions although the company sees interesting recovery prospects ahead. According to latest figures from Cements Argos, EBITDA for the year increased by 26% in peso terms to COP682m (U... |
Colombia full-year output and consumption advances03 February 2012, Published under Cement NewsCement production in Colombia grew by 13.4 per cent during 2011, rising from 9.5Mt to 10.7Mt, as dispatches also increased 13.8 per cent over 2010 with 10.1Mt. According to data from the Departamento Administrativo Nacional de Estadistica (DANE), the increase was due to a good performance in the distribution to retailers, followed by ready-mix companies, builders and contractors. The entity also highlights the demand in the departments of Cesar (43.9 percent), Casanare (34.1), Huila (3... |