Displaying items by tag: Cementos Argos

Colombia: Cementos Argos recorded sales of US$1.26bn in the first half of 2022, up by 13% year-on-year from US$1.11bn in the first half of 2021. Its earnings before interest, taxation, depreciation and amortisation (EBITDA) fell by 16% to US$221m from US$264m. The group's US sales accounted for 62% of its revenues during the six-month period. They rose by 5.4% year-on-year to US$776m from US$736m in the first half of 2021. Cementos Argos' US business' EBITDA fell by 25% to US$133m from US$177m. Colombia contributed sales of US$304m, 24% of group revenues, up by 15% year-on-year from US$263m in the first half of 2021.

Cementos Argos' first-half 2022 cement sales totaled 8.17Mt, down by 5.2% from 8.62Mt in the first half of 2021. Its US cement volumes fell by 1.2% to 3.06Mt, its Colombian cement volumes by 6.2% to 2.98Mt and its Caribbean and Central America cement volumes by 22% to 2.13Mt.

Chief executive officer Juan Estaban Calle said "We are convinced of the great opportunity that lies ahead to lead the industry in sustainability and generate greater value for our shareholders and all stakeholders. The calcined clay pilot that we are starting in the USA is another important milestone in our roadmap to produce carbon-neutral concrete by 2050. The results of the second quarter were very positive both in terms of revenue growth and volumes, driven, mainly, by the solidity of demand in the US and the good dynamics of the Colombian economy amidst a challenging situation of high inflation and increase in interest rates."

Colombia: Cementos Argos has shared plans for an 80% increase to its planned aggregates production capacity in Colombia to 4.5Mt/yr by 2024. In 2022, the company predicts that its aggregates business will contribute full-year earnings before interest, taxation, depreciation and amortisation (EBITDA) of US$2.8bn.

Colombia's annual aggregates consumption is 130 - 140Mt/yr.

Colombia: Cementos Argos exported 297,000 of cement in the first quarter of 2022, up by 32% year-on-year from first-quarter 2021 levels. The producer said that it achieved the increase thanks to the commissioning of its new 3.5Mt/yr Cartagena terminal in February 2022, which tripled its export capacity. The company says that its export network will now have the capacity to export 1.3Mt of cement in 2022.

Colombia: Cementos Argos recorded sales of US$642m in the first quarter of 2022, up by 11% year-on-year from first-quarter 2021. The company’s earnings before interest, taxation, depreciation and amortisation (EBITDA) fell by 18% year-on-year to US$88.6m. Cement volumes remained level year-on-year at 3.9Mt. Cementos Argos said that higher inflationary pressures impacted costs associated with raw materials, energy, freight and maintenance, but noted its ‘very good price performance’ across all of its regions. It expects the rise in cement prices to a contribute to a reduction in inflationary cost impacts in the rest of 2022.

CEO Juan Esteban Calle said "Demand for our products and solutions remains very healthy and dynamic in all regions. We are operating at full capacity, despite a challenging environment due to global supply chain disruptions and inflation in energetics and raw material costs. In this environment, we are focused on maximising production at our integrated cement plants to meet our customers' growing needs and on executing a pricing strategy that mitigates the impact of inflation.”

Denmark: FLSmidth has formed a partnership called ECoClay to develop and commercialise the technology needed to electrify the calcination of clay used in cement production. The partners include the Danish Technological Institute, US-based industrial heating specialist Rondo Energy, France-based Vicat, Colombia-based Cementos Argos and the Technical University of Denmark. The project is partly funded by the Energy Technology Development and Demonstration Program (EUDP) under the Danish Energy Agency.

The use of calcined clay in cement production allows cement producers to replace up to 30% of limestone-based clinker, resulting in up to 40% lower CO₂/t in cement produced. By electrifying the process, ideally powered by renewable sources, the ECoClay partnership expects to further reduce emissions by 10% at more uniform conditions that allow processing of a broader range of raw clays.

Based on the shared research and tests on high-temperature electric heat generation, storage solutions and renewable grid integration, the ECoClay partnership will build a pilot plant at FLSmidth’s research and development centre in Denmark. The consortium will seek to demonstrate how the ECoClay process is superior to the conventional combustion processes, has a smaller physical footprint on site and significantly lower emissions of air pollutants. According to the project plan, the ECoClay partners expect to be able to commence construction of the first full-scale electric clay calcination installation by the end of 2025.

Colombia: Cementos Argos says that 368,000 people directly benefited from its social investment programmes in Colombia in 2021. During the year, the company invested US$4.56m in projects including its Hogares Saludables home improvement programme and its Via Forte road infrastructure programme. The Via Forte programme has laid 600km of road since 2017, while the Hogares Saludables programme aims to assist and improve over 10,000 homes by 2027.

US: Cementos Argos subsidiary Argos Florida Cement has won the Slag Cement Association (SCA)’s Durability and Infrastructure awards at its 2022 Sustainable Concrete Project of the Year Awards. The producer won the awards for its supply of slag cement to two projects in Florida in 2021. Its involvement in the American Bridge Company’s SR 679 Pinellas Bayway Bridge – Structure E replacement won it the Durability award, while its involvement in Superior Paving’s State Road 52 realignment. Argos Florida Cement congratulated its customers, who also received the awards.

Colombia: Grupo Gilinski has increased its stake in Grupo SURA by 7.7% to 32%. Grupo SURA controls a 36% stake in Grupo Argos, the parent company of Cementos Argos and US-based Argos USA. The deal awaits validation and agency approval.

Colombia: Grupo Argos subsidiary Argos recorded consolidated sales of US$2.57bn in 2021, down by 9.1% year-on-year from US$2.27bn in 2020. It sold 17.1Mt of cement across all regions, up by 16% from 14.6Mt in 2020. In the US, its cement sales rose by 5.7% to 6.1Mt, in Colombia they rose by 23% to 5Mt and in the Caribbean and Central America they rose by 27% to 6Mt. The producer’s earnings before interest, taxation, depreciation and amortisation (EBITDA) rose by 34% year-on-year to US$443m from US$406m.

CEO Juan Esteban Calle “I am extremely proud of these achievements, which are the result of a disciplined strategy of expansion, efficiencies and customer-centricity that has been carried out based on a long-term vision of sustainability, growth and profitability, aiming at delivering sustained and increasing value to our shareholders.”

Colombia: Cementos Argos has announced the launch of its new modular concrete solutions subsidiary Soluciones Modulares Argos. The company will produce precast concrete elements for use in housing and infrastructure construction. It aims to build 500 new homes in the second half 2022 and says that its products will halve building times.

Cementos Argos Colombia regional vice president Carlos Horacio Yustysaid "Modular concrete solutions revolutionise the execution of traditional structures and constitute a disruptive bet in construction systems technology."