Displaying items by tag: Cementos Argos

Colombia: The Superintendent of Industry and Commerce (SIC) has confirmed a US$73.5m fine issued against six top executives and cement companies for alleged market collusion. SIC says that Cementos Argos, Cemex and Holcim failed to provide an economically reasonable explanation for similar pricing, according to the El Colombiano newspaper. Cemex has accepted the decision and not filed an appeal. Cementos Argos and Holcim will take the case to the Dispute Tribunal.

US: CarbonCure has demonstrated an integrated CO₂ capture and utilisation (CCU) process from cement for concrete production in January 2018 at Cementos Argos’ Roberta plant in Calera, Alabama. The consortium - comprising Carbon Cure, Sustainable Energy Solutions (SES), Praxair, Cementos Argos and Kline Consulting - says it is the world’s first project to collect cement kiln CO₂ for subsequent utilisation downstream in concrete production and construction.

CO₂ emissions from the Roberta cement plant were captured by SES’ Cryogenic CO₂ Capture technology, transported by Praxair and reused in Cementos Argos' Glenwood, Atlanta concrete operations equipped with CarbonCure's CO₂ utilisation technology. The concrete manufactured with the waste CO₂ from the Roberta cement plant was then used in a local construction project in the greater Atlanta area. Design partners and fellow members of CarbonCure’s Carbon XPRIZE team such as LS3P Architects, Uzun + Case Structural Engineering, and Walter P Moore Structural Engineers completed the end to end integrated solution by creating demand for CarbonCure concrete products in the marketplace. Kline Consulting oversaw the commissioning and reporting of the industrial demonstration.

The project was an extension of Team CarbonCure's participation in the US$20m NRG COSIA Carbon XPRIZE Challenge, which incentivises and accelerates the development of integrated CCU technologies and new markets that convert CO₂ emissions from coal and natural gas power generation into valuable products.

Colombia: Cementos Argos and Ibines Ferreo have been helping the National Agency for Infrastructure run freight train tests on the 257km railway line between Bogota and Belencito. To show that the refurbished line can handle different loads, a train travelled from Cementos Argos' Sogamoso plant in the department of Boyaca to Bogota, according to the Portafolio newspaper. It carried 204t of cement at an estimated speed of 20km/hr.

ANI has invested US$73.3m in the refurbishment of rail infrastructure between Bogota and the Boyaca department. Sections of track repaired by ANI between Bogota and Boyaca include La Caro-Zipaquira, Bogota-Facatativa and Bogota-Belencito. The line stopped operating due to damage caused by winter storms in 2010 and 2011.

Honduras: Cementos Argos has ordered two Plug&Grind XL modular grinding units for a project in Honduras. Each mill has a production capacity of 220,000t/yr. The ball mills are 3.0 x 9.5m and they have a power of 1100kW. They also include 50,000m³/hr bag filters and classifiers. The scope of supply includes new cement storage silos for finished product, packing and dispatching equipment. The cement producer announced in early February 2018 that it was planning to spend US$20m on building a new cement grinding plant at Choloma.

Colombia: Cementos Argos has reported a net loss of US$23.4m in the fourth quarter of 2017 due to lower prices and higher costs, primarily due to economic deceleration in Colombia. The net loss was a contrast to the US$21.6m profit made in the same period of 2016. Earnings before interest, tax, depreciation and amortisation (EBITDA) fell by 8.9% to US$126.7m during the quarter.

"The fall in income and EBITDA of Cementos Argos is best explained by the price of cement in Colombia, which reached its lowest level in the second quarter of the year," said the company in a statement. Imports from countries that subsidise industrial energy costs and exchange rate changes led to the fall in prices.

For the whole of 2017 Cementos Argos’ net profit slumped by 86.3% to US$27.0m, compared to US$196.9m during 2016. EBITDA for the full year 2017 was down by 15% to US$497.0m.

Honduras: Colombian cement manufacturer Cementos Argos has reported a positive performance in Honduras. The company, which entered the domestic market in 2013, sold over 1.1Mt of cement in the local market in 2017, a record figure that was 15% more than the 0.95Mt that it sold in 2016.

Honduras: Cementos Argos plans to spend US$20m on building a new cement grinding plant at Choloma. The unit will have a production capacity of 0.44Mt/yr. It will join the cement producer’s integrated plant in Comayagua and another grinding plant in San Lorenzo. The new grinding plant, loacted in the north of the country, is intended to integrate into Cementos Argos’ logistics network in the wider region. It will create 200 jobs.

Colombia: Cemex Colombia has paid a US$25.3m fine to the Superintendent of Industry and Commerce (SIC). The penalty follows an investigation into price fixing by Cemex, Cementos Argos, and Holcim and six senior managers, according to the El Economista newspaper. However Cemex plans to lodge an appeal with the Contentious Administrative Court to reverse the fine.

The fine covers behaviour by the companies between January 2010 and December 2012. SIC’s investigation discovered that collusion between the cement producers artificially increased the price of cement by 30% despite inflation being 9% during the period.

Colombia: The Superintendent of Industry and Commerce (SIC) has fined Cementos Argos, Cemex and Holcim and six senior managers US$68m for fixing the price of Ordinary Portland Cement. The fine covers behaviour by the companies between January 2010 and December 2012. SIC’s investigation discovered that collusion between the cement producers artificially increased the price of cement by 30% despite inflation being 9% during the period.

Cementos Argos responded to the sanction by saying that it rejected the fine and decision by SIC. Following an earlier statement in October 2017 it once again criticised SIC’s methods. According to Reuters, both Holcim and Cemex disagreed with the finding and they said they would take legal action against it.

Colombia: Cementos Argos has set up a subsidiary, Granulados Reciclados de Colombia (Greco), to recycle construction material waste. The new company’s operations will be based at its Cota plant in Cundinamarca, according to La Republica newspaper. The operation is expected to process over 1Mt/yr of construction waste material. The company is a joint operation with local industrial conglomerate Fanalca and South Korean lighting equipment manufacturer Daeyang.