Displaying items by tag: Cementos Argos

Colombia: Cementos Argos has inaugurated four new ready-mix concrete batching plants in Bogotá. One plant is fixed and the other three are mobile, with a combined investment value of US$1.59m. Cementos Argos says that it has gained 276,000m³/yr in additional capacity as result.

Cementos Argos Colombia Central manager Alexander Pedraza said "The mobility situation in Bogotá has challenged us to innovate and develop solutions that allow us to be ever closer to our customers.”

US: A court in Savannah, Georgia, has sentenced Evans Concrete and four executives for conspiring to fix prices, rig bids and allocate jobs in the local ready-mix concrete business between 2010 until 2016. Foreign Affairs News has reported that Evans Concrete will pay a US$2.7m fine, while alleged co-conspirator Argos USA will pay a US$20m criminal penalty under a deferred prosecution agreement. Of the four individuals, three will serve combined prison sentences of 72 months and pay a total US$210,000 in fines and one received a year’s probation.

The Justice Department’s Antitrust Division said "The Antitrust Division and its law enforcement partners will hold accountable those who seek to exploit the critical need for these materials to harm consumers."

Bahamas: Cementos Argos has supplied nearly 10,000t of cement for the concrete used for Disney Cruise Line's new 700m-long pier at Lighthouse Point on Eleuthera Island, accounting for 85% of the total required. The project cost US$250m and is part of expansion plans to accommodate over one million visitors annually. Cement was sourced through the company’s exports from Puerto Rico between 2022 and 2024.

US: Argos USA has invested US$40m in 200 new ready-mix concrete mixer trucks, as the first phase of a five-year fleet expansion and replacement plan. The company says that the vehicles have a useful life of 8 – 10 years, or 53,500m³. It expects to make its next truck purchases in early 2023.

Argos USA ready-mix president Richard Edwards said "With the acquisition of these new assets, we continue our dedication to delivering extraordinary solutions to customers, helping facilitate the progress and development of the cities and communities where we have a presence. Our new trucks have a capacity of around 7.5m³ of concrete, are approximately 15% more fuel efficient than our previous trucks, and result in lower atmospheric emissions. They are also vehicles with the latest safety equipment, to continue ensuring the safety of our employees and everyone we share the road with daily."

Colombia: Cementos Argos has shared plans for an 80% increase to its planned aggregates production capacity in Colombia to 4.5Mt/yr by 2024. In 2022, the company predicts that its aggregates business will contribute full-year earnings before interest, taxation, depreciation and amortisation (EBITDA) of US$2.8bn.

Colombia's annual aggregates consumption is 130 - 140Mt/yr.