Displaying items by tag: reorganisation

Colombia: Cementos Argos owner Grupo Argos has announced a raft of cuts to investments and expenses worth a total of US$245m in response to the impacts of Covid-19. Noticias Financieras News has reported that US$61.2m of the cuts will be to planned investments in expansion projects and raw materials inventory restocking, including to some in the cement business. Group Argos President Jorge Mario Velasquez said that the measures would, “give additional currency for the different sources, cash and funding that the organization has access to and give us relative peace of mind in our cash structure.”

Grupo Argos said it would stick to its US$3.67bn five-year investment plan.

Germany: Hazemag has announced that Hazemag Systems will now market the entire product portfolio of Hazemag raw materials processing and mining equipment division Hazemag & EPR. The group says its ‘sales and process know-how’ will now be bundled at a single Düsseldorf location. Hazemag & EPR employs 400 people in serving industries including cement in 40 countries with plants and equipment for raw materials processing.