Displaying items by tag: Colombia
Ultracem to build new kiln in Galapa
27 September 2024Colombia: Ultracem's general manager, Julián Vásquez, has announced plans to establish a clinker kiln in the municipality of Galapa with an investment of US$100m. This new facility aims to eliminate the need to import clinker, which is currently sourced from Turkey, Vietnam, and Spain. The kiln is expected to be operational within two years.
Vásquez said "This will give us competitive advantages and will involve increasing the workforce from the 1200 direct and indirect jobs we generate today by 20%."
Colombia: Cemex Colombia has reported that 90% of the water used at its Santa Rosa grinding plant in 2024 to date came from non-fresh water sources, including rainwater harvesting and water recycling systems. Additionally, the plant operates with zero water discharges. UK-based Environmental Resources Management (ERM) supported the development of the current water management protocol for the plant.
Colombia: Cementos Argos is set to finish construction of a new silo at its Cartagena export terminal by November 2025, aiming to increase its exports of cement to the US and ‘several’ Caribbean countries. Total investments in the project are valued at US$17m. The dome-shaped silo can store up to 20,000t of cement and allows for the simultaneous loading of ships at two docks, potentially increasing cement and clinker exports to 3.5Mt/yr.
Cementos Argos reports 2024 second quarter results
12 August 2024Colombia: Cementos Argos recorded revenues of US$329m in the second quarter of 2024, down 1% from the same period in 2023. The company’s quarterly earnings before interest, taxation, depreciation and amortisation (EBITDA) was US$68.8m, while net profit reached US$31.2m. This net profit result includes the markets where it operates directly and the 31% stake it holds in Summit Materials in the US. According to the company, this result is explained "by the impact of seasonality in Summit's operations, which generate most of its net profit during the second and third quarters of the year."
Cementos Argos shipped 2.5Mt of cement across Colombia, Central America and the Caribbean in the second quarter of 2024, up 2%. However, in Colombia alone, volumes fell by 5% to 1.3Mt, despite rising exports. The company recorded a 14% rise in quarterly EBITDA to US$41.2m, with year-to-date EBITDA up by 11% to US$89.6m. In Central America and the Caribbean, Q2 2024 EBITDA was US$38m, a 13% year-on-year increase.
Cementos Argos expects improvements in Colombia's cement deliveries over the next 12 to 18 months due to stabilising new home sales, reduced mortgage rates, moderated inflation and improved housing subsidies.
Colombia: Cemex Colombia has appointed Juana María Serna as Commercial Vice President. She previously worked as the Vice President for Strategic Planning for Cemex Colombia & Peru and the VP for Builders and Urbanization Solutions for Cemex Colombia from late 2020. Earlier in her career she worked for Cemex Group in Mexico, becoming Global Customer Experience Director in 2018. She started working for Cemex in Colombia in 2007. Serna holds an undergraduate degree in Architecture and a Master of Business Administration from the Universidad de Los Andes in Bogotá.
Colombian cement sector faces challenges
18 July 2024Colombia: The cement sector in Colombia is experiencing difficulties due to a contraction in the construction sector. This is attributed to an economic slowdown that has impacted on housing and infrastructure projects. From January – April 2024, cement production declined by 4% year-on-year. The industry is also contending with high production costs, which have reduced profit margins. Delays in infrastructure projects, influenced by the transition in local governments, have further affected demand for cement.
Martín Costanian appointed as CEO of Holcim Colombia
12 June 2024Colombia: Holcim Colombia has appointed Martín Costanian as its CEO. He succeeds Marco Maccarelli in the position, who has been appointed as the CEO for Holcim Switzerland, Italy, South Germany and Haut Rhin.
Costanian, a Uruguayan national, has worked for Holcim since 2019 when he joined the group as the Chief Financial Officer for Holcim México. He later joined the group’s Strategy and Growth Directorate in early 2024. Earlier in his career he held finance roles for Keurig Dr Pepper and 3M, and has held roles with Kraft Foods Group. Costanian is a science and business graduate from the Universidad Católica del Uruguay and holds a master of business administration (MBA) from the Carlson School of Management, part of University of Minnesota.
Cementos Argos’ profit drops marginally
17 May 2024Colombia: Cementos Argos reported revenues of US$1.3bn in the first quarter of 2024, 6.4% year-on-year lower than the same period of 2023. The company recorded adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) of US$291m, 2% above the value in the same period of the previous year. It reported decreases of 13% and 6% in cement and concrete volumes respectively, which it attributed to there being five fewer business days in the 2024 period due to the timing of Easter holidays.
Switzerland: Holcim has appointed Marco Maccarelli as its Director of Central and Eastern Europe. He will succeed Simon Kronenberg in the post in June 2024, according to the 24 Heures newspaper. The position includes the responsibility of head of Holcim Schweiz.
Maccarelli is currently working as the CEO of Holcim Colombia. Prior to this, he worked for Holcim Mexico first as Director Innovation and Commercial Development and later as Director Cement Sales & Retail. He has worked for Holcim for over 15 years and holds more than 20 years’ experience in the construction sector.
Colombia: Cementos Argos and Sistema Verde have collaborated to transform nearly 27t of waste from the Estéreo Picnic music festival in Bogotá on 21 – 24 March 2024 into alternative fuel for Cementos Argos' Cartagena plant. The initiative, which includes converting materials such as plastics and cardboard into fuel, aligns with Cementos Argos’ aim to reduce fossil fuel use and CO₂ emissions per tonne of cement by 29% by 2030.
Mauricio Giraldo, director of alternative resources at Cementos Argos said "We are very pleased to be part of this alliance with which we join the global need to join efforts to make an adequate use of waste in a safe, controlled and clean manner. Our goal as a company is to dispose of more than 300,000t/yr of waste, and with actions like this, we continue to contribute to achieving this goal.”