Displaying items by tag: Colombia
Colombia: Gebr. Pfeiffer has sold a Ready2Grind modular grinding system with a MVR 2500 C-4 mill to LafargeHolcim Colombia. The order consists of a Ready2Grind with a finished product storage area and a packing plant supplied by Claudius Peters. No value for the sale has been disclosed.
Colombia: Cementos Argos’s sales volumes of cement fell by 5.5% year-on-year to 3.44Mt in 2016 from 3.64Mt in 2015. Despite increasing its presence in the US with the acquisition of the Martinsburg, West Virginia cement plant, its sales volumes in Colombia fell by 19% in 2016, more than the market, due to its ‘higher exposure’ to the infrastructure and industrial segments and increasing volumes of imports. Despite this, its sales revenue rose by 7.7% to US$2.95bn from US$2.74bn and its earnings before interest, taxation, depreciation and amortisation (EBITDA) rose by 8.7% to US$572m from US$526m.
“We are very satisfied with the results of the US regional division, as they ratify the visionary decision taken 11 years ago by the company, to enter with our value proposition into the largest economy and the most demanding market. Our diversification strategy allows us to balance different market cycles, drives our results and supports value generation for our shareholders,” said Juan Esteban Calle, chief executive officer of Cementos Argos.
The US became the cement producer’s biggest market in 2016 contributing about half of its revenue. By region, cement sales volumes grew in the US by 18.5% to 3.97Mt from 3.36Mt. Sales volumes in its Caribbean and Central American region rose by 4.7% to 4.95Mt from 4.73Mt. It added that it had decided to postpone the expansion of its Sogamoso cement plant in Colombia. Instead it plans to increase its production capacity by 1Mt at its Rioclaro and Cartagena plants in 2017 and 2018.
Colombia: A new cement plant to be built at Rio Claro in the Sonsón municipality of Antioquia for Empresa Colombiana de Cementos (EcoCementos) will have a production capacity of 1.35Mt/yr. The company is a joint-venture between Spain’s Cementos Molins and Grupo Corona. Cementos Molins and Grupo Corona originally started working together in September 2015 when they formed an alliance to develop their cement businesses in the country, according to the El Tiempo newspaper. The plant is expected to be completed in mid-2019 whereupon it is hoped that it will capture 7% of the market. Once operational the plant will create 450 direct and indirect jobs.
Colombia: FLSmidth has received an order from OHL Industrial for engineering, procurement and supply of equipment for a complete cement production line with a capacity of 3150t/day. The plant will be located in Rio Claro in the Sonsón municipality of Antioquia. The end client of the project is Empresa Colombiana de Cementos (EcoCementos), a company jointly owned by Cementos Molins and Grupo Corona, with whom OHL Industrial has an engineering, construction and procurement (EPC) contract.
The order includes a complete range of equipment from crushing to packing and loadout. Supply includes an ATOX 37.5 vertical mill for raw grinding, an ATOX 17.5 vertical mill for coal grinding, a ROTAX-2 rotary kiln with low NOx ILC calciner, a FLSmidth Cross-Bar cooler, a JETFLEX burner and an OK(TM) 39-4 vertical mill for cement grinding. The order is planned for completion in the first quarter of 2018.
"The project underlines FLSmidth's strength as a leading supplier of the most productive and energy-efficient equipment and technology - and our market leader position as a full scope plant provider," said FLSmidth Group Executive Vice President, Cement Division, Per Mejnert Kristensen.
Colombia: The Superintendency of Industry and Commerce (SIC), Colombia's competition watchdog, has rejected a request made by Productora de Cementos to register its brand Cemento Patriota under Nice Classification. The initially approved submission was contested by Cementos Argos, according to La Republica newspaper. It argued that Cementos Patriota would infringe on its Cementos Uno A, Concretos Uno A and Agregados Uno A labels, because it reproduced the distinctive letter 'A' and number one of the accompanying graphic shared by all three brands. SIC ruled in favour of Cementos Argos, arguing that a side-by-side comparison shows visual similarities.
Colombia: Cemex has received a subpoena from the US Securities and Exchange Commission (SEC) seeking information to determine whether there have been any violations of the US Foreign Corrupt Practices Act (FCPA) in relation to a new cement plant being built by Cemex Colombia at Maceo in Antioquia.
In late September 2016 Cemex fired several senior staff members in relation to the Maceo project and its subsidiary’s chief executive resigned. This followed at internal audit and investigation into payments worth around US$20.5m made to a non-governmental third party in connection with the acquisition of the land, mining rights, and benefits of the tax free zone for the project. Cemex referred the situation to the Colombian Attorney General at the same time. The group has also confirmed that it maintains an anti-bribery policy applicable to all of its employees and subsidiaries.s
Colombia: Cemex Latam, the Latin American subsidiary of Cemex, intends to enter dialogue with the Regional Autonomous Corporation of Antioquia (Corantioquia) to revoke its environmental permit for Maceo cement plant project. Corantioquia has requested that the permit from Central de Mezclas, a subsidiary of CHL, be returned to the CI Calizas y Minerales, according to the El Colombiano newspaper. The government agency has removed the clearance on procedural grounds and over the mining rights in the area.
Colombia: Cementos Argos’ sales revenue in Colombia have fallen by 8.3% to US$629m for the first nine months of 2016 from US$686m in the same period in 2015. Its earnings before interest, taxation, depreciation and amortisation (EBITDA) fell by 12.9% to US$171m and its cement sales volumes fell by 17.9% to 3.78Mt. It blamed this on a fall in demand for bulk cement in the country caused by a delay in infrastructure projects.
“The US, Honduras and Panama continue to drive the company’s results and offer great opportunities for growth, offsetting the slowdown in demand we faced in the Colombian market as a result of the delay in the start of the construction of the 4G projects during the second half of the year,” said Juan Esteban Calle, chief executive officer of Cementos Argos.
Overall the cement producer reported that its sales revenue rose by 13.1% to US$2.05bn, that its EBITDA rose by 13.8% to US$396m but that its cement sales volumes fell by 1.4% to 10.5Mt.
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: The broker named in an internal probe by Cemex Latam has defended his involvement with relation to the purchase of land and mining rights for a cement plant project in Maceo, Antioquia in comments to the La Republica newspaper. Eugenio Correa, representing Calizas y Minerales, says that he has only received US$6.85m from Cemex despite claims by Cemex that he is holding US$20.5m in funds for the project. He adds that Cemex conducted at least 25 visits from its engineers, lawyers and accountants at the Maceo site between July 2011 and December 2015 keeping it up to date on the project’s progress.
Correa says that he originally signed a memorandum of understanding with Cemex for the sale of 340 hectares, economic free zone and the mining rights for US$22.20m in August 2012. He adds that the contract was extended in April 2016 to June 2019. In late September 2016 Cemex dismissed several senior staff members in relation to the project and the subsidiary’s chief executive resigned.