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Top related persons:
Luisa Gonzalez - 2 Ananta Agarwal - 2 Savio D'Souza - 2 Maju Samuel - 2 Columbia's Cementos - 1 Argos - 1 Summit - 1 Anne Noonan - 1
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Argos Bogota Colombia U.S Mid Atlantic Texas Summit
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REUTERS - 2 Summit - 2 Thomson - 2 Grupo Argos - 1 BofA Securities - 1 U.S - 1 Argos USA - 1

Search resuls for: "Cementos"


3 mentions found


☆ Summit Materials to buy Cementos Argos' US unit in $3.2 bln deal
  + stars: | 2023-09-07 | by ( Ananta Agarwal | ) www.reuters.com   time to read: +1 min
Cement silos of Colombian cement maker Argos are pictured at a plant in Bogota, Colombia May 14, 2019. REUTERS/Luisa Gonzalez Acquire Licensing RightsSept 7 (Reuters) - Summit Materials (SUM.N) said on Thursday it would buy the U.S. operations of Columbia's Cementos Argos (CCB.CN) for about $3.2 billion in cash and stock, in a deal that would make the combined entity the largest U.S.-based cement producer. Cementos Argos, the core unit of industrial conglomerate Grupo Argos (ARG.CN), will own a 31% stake in Summit and receive $1.2 billion in cash payments, subject to certain conditions. The deal, which is expected to close in the first half of 2024, could lead to annual cost savings of more than $100 million, Summit said. Shares of Summit Materials fell 7.92% in mid-day trading.
Persons: Luisa Gonzalez, Columbia's Cementos, Argos, Summit, Anne Noonan, Morgan Stanley, Ananta Agarwal, Savio D'Souza, Maju Samuel, Shweta Agarwal Organizations: REUTERS, Grupo Argos, Summit, BofA Securities, Thomson Locations: Argos, Bogota, Colombia, U.S, Mid, Atlantic, Texas, Summit
☆ Summit Materials to merge with Cementos Argos's US operations in $3.2 bln deal
  + stars: | 2023-09-07 | by ( ) www.reuters.com   time to read: +1 min
Cement silos of Colombian cement maker Argos are pictured at a plant in Bogota, Colombia May 14, 2019. REUTERS/Luisa Gonzalez Acquire Licensing RightsSept 7 (Reuters) - Summit Materials (SUM.N) said on Thursday it would merge with the U.S. operations of Cementos Argos in a cash-and-stock transaction valued at $3.2 billion, creating the fourth-largest cement platform in the United States. Cementos Argos will receive about $1.2 billion in cash, subject to closing adjustments, and 54.7 million shares of Summit based on its closing price on Wednesday. Argos USA has assets comprising four integrated cement plants, 140 ready-mix plants and eight ports, giving Summit a "significantly improved scale" in high-growth markets. Cementos Argos will own about 31% of the combined company on upon the closing of the transaction.
Persons: Luisa Gonzalez, Cementos, Ananta Agarwal, Savio D'Souza, Maju Samuel Organizations: REUTERS, U.S, Summit, Argos USA, Thomson Locations: Argos, Bogota, Colombia, United States
☆ Colombia's Grupo Argos Q3 net profit drops 9.2% after jump in costs
  + stars: | 2022-11-14 | by ( ) www.reuters.com   time to read: 1 min
MEXICO CITY, Nov 14 (Reuters) - Colombian industrial conglomerate Grupo Argos' third-quarter net profit fell 9.2% from a year earlier, the company said Monday, following a jump in costs and expenses. The company, made up of power utility Celsia (CEL.CN), Cementos Argos (CCB.CN) and road and airport concession company Odinsa, posted a net profit of 192 billion pesos ($39.9 million)for July to September, down from 211.4 billion pesos last year. The firm said revenues grew 23.6% to 5.1 trillion pesos, but reported a 25% jump in costs and expenses. The company's earnings before interest, taxes, depreciation and amortization (EBITDA) grew 9.5% to 1.3 trillion pesos. ($1 = 4,806.07 Colombian pesos)Reporting by Noe Torres; Editing by Isabel WoodfordOur Standards: The Thomson Reuters Trust Principles.
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