Displaying items by tag: Holcim Colombia

Colombia: LafargeHolcim subsidiary Holcim Colombia has launched Eco, a cement bag label detailing products’ CO₂ emissions reduction by comparison to Ordinary Portland Cement (OPC), on its Boyacá Súper Fuerte and Holcim Maestro cements. The La República newspaper has reported that the labels signal the company’s commitment to the Business Ambition for 1.5°C anti-climate change initiative.

Executive president Marco Maccarelli said that the launch is one more step on company’s path towards Net Zero and sustainable construction, engaging the entire value chain.

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.

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.

Colombia: Holcim Colombia plans to launch its new US$30m cement grinding plant in Buga in late 2018 or early 2019. Originally the plant was scheduled to start in the first quarter of 2018. The company also intends to focus on infrastructure projects such as the country’s fourth generation road development scheme, airport renovations and an urban train scheme in Bogota, according to La Republica newspaper.

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: The Superintendent of Industry and Commerce (SIC) says that it has found evidence of price collusion from 2010 to 2012 between Cementos Argos, Holcim and Cemex. A report by SIC alleges that the three companies raised the price of Ordinary Portland Cement (OPC) in a coordinated manner, according to the El Espectador newspaper. The producers have been given a time to respond to the allegations and they could face fines of up to US$8m each by the end of 2017.

However, the cement producers have denied the allegations and criticised SIC’s methods. In a response, Cementos Argos described SIC’s analysis of cement prices over a 36-month period as ‘ not appropriate.’ It also pointed out that the regulator had assumed a stable market share between competitors and that its own share had changed between 2007 and 2017.

Colombia: Holcim Colombia is planning to build a 0.5Mt/yr grinding plant at Buga in the Valle del Cauca department. The project will have an investment of US$32m, according to the New Century newspaper. The site for the new plant was chosen for both local demand and its proximity to the port of Buenaventura. Construction work on the unit will start immediately and the plant will be launched in the first quarter of 2018. It is expected to create up to 180 jobs when operational.

Colombia: Cementos Argos' net profit rose by 3.3% year-on-year to US$29m in the first quarter of 2015, which ended on 31 March 2015, due to increased sales in the US. The company posted an increase in income despite higher sales costs.

Its consolidated income rose by 28% to US$630m, while earnings before interest, taxes, depreciation and amortisation (EBITDA) jumped by 18% to US$121m, the highest in the company's history. The increases were due principally to growth in the US, where cement income rose by 31% to US$264m.

"Today, 60% of Cementos Argos' income is generated outside of Colombia," said chief executive Jorge Mario Velasquez. "Added to the solid results in all our operations, dispatched volumes and generated EBITDA, we can be optimistic about 2015."
Costs for the company rose by 33.3% year-on-year to US$469m in the first quarter because of bad weather in the US and increased transportation costs in Colombia caused by a brief truckers' strike.

Meanwhile, Jaime Hill Tinoco, president of Holcim Colombia, has confirmed the company's upcoming projects, which include the second stage of the connection between Puente Aereo (Terminal 2) and the new terminal at El Dorado airport in Bogota, La Felicidad shopping centre and a residential development in Madrid (Cundimarca). Hill said that Holcim will install plants at the building sites and added that it will also supply cement for the construction of a Grupo Carso mall in Bogota.

With regards to infrastructure projects, Hill said that Holcim is participating in the construction of the Bogota-Villavicencio road and in the second section of the Ruta del Sol road project. He added that the expansion of infrastructure initiatives would benefit the cement sector, improving the transport of material.

In January - March 2015, Holcim Colombia posted a sales increase of 5%, below the national industry's average growth rate of 7.5%. Hill said that the difference was due to the truckers' strike, which forced distribution to be halted for a week. The company has forecast a 5% sales rise by the end of 2015, representing 15% of the 12.5Mt tonnes of cement that the industry expects to produce during the year. By 2020, it is expected that Colombia will produce 15Mt/yr of cement.