Displaying items by tag: Cementos Argos

US: A fire at Argos USA’s Martinsburg cement plant in West Virginia is being investigated. The fire followed an explosion at the site on 25 November 2018, according to the Herald-Mail newspaper. A spokesman for the cement producer said that the incident occurred in the coal-mill dust-collector bag house. Although damage estimates are not available yet, repairs following the fire include replacing blast doors. No injuries have been reported. Production at the plant has been suspended while the cause of the fire is investigated.

Honduras: Cementos Argos and Cementos del Norte have agreed to cut the price of cement for government-backed reisdential and infrastructure projects following a request by President Juan Orlando Hernández, according to the El Heraldo newspaper. The price will fall by around 15% when the agreements between the cement producers and the government is finalised.

Colombia: Falling sales at home have reduced Cementos Argos’ sales so far in 2018. Its revenue decreased by 1.8% year-on-year to US$1.99bn in the first nine months of 2018 from US$2.03bn in the same period in 2017. Its sales volumes of cement declined slightly to 12.1Mt. However, its earnings before interest, taxation, depreciation and amortisation (EBITDA) rose by 6.1% to US$355m from US$330m.

“It´s been a year full of challenges and opportunities in which we have been focused on the strengthening of our value proposition, looking forward to be a strategic ally for our clients´ projects; improving the competitiveness of our operations through the execution of BEST, ensuring we have the financial flexibility to mitigate market risks, taking advantage of growth opportunities and becoming a leaner, more innovative and sustainable company for the years to come,” said Juan Esteban Calle, chief executive officer (CEO) of Cementos Argos.

By region, revenue fell by a little in the US and cement sales volumes remained stable. This was blamed, in part, on the negative effects of Hurricane Florence on its market in the Carolinas in the third quarter and on falling prices. Revenue and sales volumes were down in Colombia due to a poor market although this started to recover in the third quarter, notably with improving earnings. In the Caribbean and Central America region its revenue and sales volumes increased, lead by growth in the Dominican Republic, Puerto Rico and the Eastern Caribbean. Despite this, EBITDA margin fell due to decreased despatches in Honduras and Panama.

Colombia: Cementos Argos has lost a trademark dispute over its Luz Verde brand. The Superintendent of Industry and Commerce (SIC) has authorised wholesale travel agent Luz Verde Representaciones to register its Luz Verde brand despite the objections of the cement producer, according to La República newspaper. SIC considered the opposition of Cementos Argos invalid as the companies operate in different business sectors. The company had previously lost another legal conflict with Energy Evolution Colombia for the registration of a motto including the element Luz Verde.

Colombia: Cementos Argos has been ratified for the sixth consecutive year as a member of the Dow Jones Sustainability Index (DJSI), which recognises good practices in terms of economic, environmental and social sustainability of the companies registered in stock markets. Celsia, a Grupo Argos energy subsidiary, was also included in the Dow Jones Sustainability Index for the Latin American Integrated Market (MILA) - Pacific Alliance, which recognises companies with the best economic, social and environmental practices in Chile, Peru, Mexico and Colombia. Grupo Argos and Cementos Argos were also included.

"Being ratified as world leaders in sustainability by Dow Jones is the result of our conscious investment, our commitment to a responsible operation of all our businesses, and our permanent interest to positively impact society, respecting our planet," said Jorge Mario Velasquez, chief executive officer (CEO) of Grupo Argos.

In 2018 more than 3500 companies around the world were invited to participate, but only 317 were selected as members of the worldwide DJSI.

Dominican Republic: Colombia’s Cementos Argos has announced that it recorded positive results in the Dominican Republic during the first half of 2018. In this period, the company saw overall revenues experience a year-on-year increase of 7%, while net profits expanded by 23%. These positive results helped the company to report a good performance in its Caribbean-Central American regional operations, which recorded earnings before interest, tax, depreciation and amortisation (EBITDA) of US$99m and revenues of US$299m in the period under review, marking increases of 3.9% and 2.6%, respectively.

UK: The Global Cement and Concrete Association (GCCA) reports that it continues to grow, with the addition of several new member companies from Europe, South America and Asia. In August 2018 there were six new members: Buzzi Unicem, Cementos Argos, Cementos Pacasmayo, Çimsa Çimento, SCG Cement and Titan Cement. The GCCA also welcomed the US Portland Cement Association (PCA) as an Affiliate.

Albert Manifold, GCCA President (and CEO of CRH) said, “We are delighted to welcome further cement and concrete companies and like-minded organisations to the GCCA. The GCCA was set up to provide the authoratitive global voice for this essential sector. With every new member, the voice becomes even stronger.”

The new members and affiliates join 10 existing member companies: Cemex, CNBM, CRH, Dangote Cement, Eurocement, HeidelbergCement, LafargeHolcim, Taiheiyo Cement, UltraTech Cement and Votorantim. Further applications for member and affiliate status have been received and are being processed.

Colombia: Cementos Argos has announced that its second quarter net profit for 2018 slid by 59.7% to US$10m, due to a slowdown in the construction sector. Its operating revenue rose by 1.4% to US$741.6m during the same period.

“A recovery in demand is expected during the second half of the year given the increase in consumer confidence and positive signs for the residential sector, especially in social housing," said Cementos Argos in a statement.

Colombia: The Council of State has confirmed a US$0.31m fine to Holcim Colombia imposed by the Superintendent of Industry and Commerce (SIC) for fixing the price of cement. The ruling follows a similar confirmation of a fine to Cemex. The court found that an agreement between Cemex Colombia, Holcim Colombia and Cementos Argos distorted the price, supply and sales of Ordinary Portland Cement in the second half of 2005.

Colombia: The Council of State has confirmed a fine to Cemex imposed by the Superintendent of Industry and Commerce (SIC) for fixing the price of cement. The ruling found that an agreement between Cemex Colombia, Holcim Colombia and Cementos Argos distorted the price, supply and sales of Ordinary Portland Cement in the second half of 2005. In particular the tribunal found that the way in which Argos gave information about Cementos Andino’s involvement in the national market to Cemex and Holcim was be anti-competitive.