Economy & Market

Colombia’s Cementos Argos to buy out US cement companies

Published

14 years ago

May 31, 2011

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Cementos Argos SA, Colombia’s largest cement company plans to purchase several cement plants in South Carolina, Alabama and Georgia. The company entered the US market in 2005, and would become the fourth-largest ready mix producer in the US after it completes the purchase of the plants that it is buying from France’s Lafarge SA. Argos will finance the purchase through a bank loan and cash it has from selling its stake last year in a holding company. "Argos will also sell the portfolio assets that are unrelated to its core cement business", Jose Velez, chief executive, Cementos Argos SA said without giving more details. The purchase of some of Lafarge’s assets will bring Argos’s US investments to nearly $1.5 billion over the last five years. The Colombian company could start considering other acquisitions in 2012 once it finishes integrating the Lafarge plants, Velez added. The company’s US assets are concentrated in the Southeast, a region which Velez said could see strong growth in the construction industry in the next few years. The purchase, which is still subject to the approval of US regulators, will bring Argos’s installed capacity in the US to 3.2 million metric tonnes of cement and about 10 million cubic meters of ready mix per year. The increased reliance on dollar-denominated income has not directly affected the company’s balance sheet despite the strength of the Colombian peso against the dollar, Velez said. "Because of the weakness of the dollar most of our inputs are cheaper now," which helps offset the impact of the peso’s appreciation on dollar revenue, he said. "The net impact of the appreciation is really zero at this time," Velez added.

Concrete

UltraTech Cement boosts capacity with new clinker line

Published

1 week ago

April 21, 2025

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UltraTech Cement has commissioned a 3.35 million tonnes per annum (Mt/yr) brownfield clinker line and one of two 2.7Mt/yr cement grinding mills at its Maihar facility in Madhya Pradesh. The second mill is expected to be operational in Q1 of FY2026. The company has also expanded its Dhule (1.2Mt/yr) and Durgapur (0.6Mt/yr) grinding units and inaugurated its first bulk terminal in Lucknow with a 1.8Mt/yr handling capacity.

Concrete

Ambuja Cements gets a new CEO

Published

1 week ago

April 21, 2025

Roshna

Ambuja Cements has named Vinod Bahety as its CEO for a three-year term, following Ajay Kapur’s elevation to Managing Director. Bahety, formerly the company’s CFO, brings over 25 years of experience in finance and manufacturing, including a previous role as Group Head of M&A at Adani Group. Other key appointments include Rakesh Tiwary as CFO, Madhavi Isanaka as Chief Digital Officer, Vaibhav Dixit as Manufacturing Head, and Ashwin Raikundaliya as Chief Sustainability Officer.

Image source:www.exchange4media.com

Concrete

Dalmia Bharat reaches 49.5 MTPA with Rohtas expansion

Published

1 week ago

April 21, 2025

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Dalmia Bharat has successfully achieved its FY25 production capacity target of 49.5 million tonnes per annum (MTPA). This milestone was reached following the commencement of commercial production at its Rohtas Cement Works (RCW) in Bihar, where an additional 0.5 MTPA capacity has been added from March 30, 2025.
The expansion, which involved an investment of `96 crore, boosts the Rohtas plant’s total capacity to 1.6 MTPA. This development underscores the company’s continued focus on strengthening its presence in eastern India and aligns with its long-term goal of scaling total capacity to between 110 and 130 MTPA by the year 2031.
Puneet Dalmia, Managing Director and CEO, Dalmia Bharat, shared, “The Eastern region holds immense promise, and this expansion is a reflection of our commitment to contribute meaningfully to its infrastructure growth. Reaching the 49.5 MTPA mark is a key step in our journey towards sustainable and strategic expansion.”