Displaying items by tag: Cementos Argos

Columbia: Columbia's largest cement company, Cementos Argos (Cemargos), has named Jorge Mario Velásquez as its chairman.

A civil engineer with over 30 years' experience in cement, Velásquez replaces José Alberto Vélez, who remains at the head of parent company Grupo Argos. The changes are part of the company's ongoing corporate restructuring process, which includes splitting off non-cement assets to its investment arm, Inversiones Argos.

Colombia: Colombia's Grupo Argos has announced that its consolidated net profit in the first quarter of 2012 was US$125m, a fourfold increase from that seen in the first quarter of 2011. The group said that it had seen a surge in growth in its most significant business areas, namely cement and electricity. The group, which has a 61% stake in Cementos Argos, said that its earnings before interest, taxes, depreciation and amortisation, were US$250m.

US/Colombia: Ceratech, Inc., a producer of alternative, non-OPC cementitious materials, has accepted another strategic equity investment, this time from Colombian cement powerhouse Cementos Argos. The Ceratech investment follows Argos' recent expansion of its US presence through a USD 760m purchase of Lafarge assets in the south east of the country. The strategic investment will help Argos meet its goal of building a competitive advantage based on sustainability and innovation.

Ceratech's manufacturing process produces technologically advanced, more durable, 'sustainable cements' comprising 95% waste fly ash generated by electric utilities. Its production does not generate any CO2 and the product is well-positioned for adoption by contractors, distributors and companies that are looking for new solutions that better conform to green building initiatives.

The two companies will cooperate to develop and distribute Ceratech's cement through Argos' established ready mix channels throughout the mid-Atlantic, southeastern and southwestern US markets.

"This strategic investment being made by Argos shows how important innovative, sustainable construction products are to the industry," stated Jon Hyman, CEO of Ceratech. "Ours is the only cement on the market composed of more than 90% fly ash. As the industry's only carbon-free cement, we exceed the requirements for green building practices such as USGBC's LEED rating system."