Companies

Fabricato Posts 1Q 2018 Net Loss, But Sees Improvements Coming

Medellin Herald May 7, 2018

Medellin-based textile giant Fabricato announced May 1 that it posted a COP$11.6 billion (US$4.1 million) net loss for first quarter (1Q) 2018, 13% worse than the COP$10 billion (US$3.5 million) net loss in 1Q 2017. Sales also dipped 13.6% year-on-year, while earnings before interest, taxes,

General News

Medellin Metro Hails Receipt of Last of 22 New Trains; Frequency, Capacity Improve

Medellin Herald May 7, 2018

Medellin’s “Metro” public transit agency announced May 4 that it just took delivery on its 80th train — the last of 22 new trains ordered in 2016 from Spanish manufacturer Constructores y Auxiliares de Ferrocarriles (CAF). The COP$380 billion (US$135 million) investment in the 22 new trains enables Metro to improve reliability and cut waiting […]

Colombian economy

IMF Sees 2.7% GDP Growth in Colombia This Year

Medellin Herald April 30, 2018

The International Monetary Fund (IMF) on April 30 announced that it foresees 2.7% growth in Colombia’s gross domestic product (GDP) this year. In its latest annual “executive board” report (see: http://www.imf.org/en/News/Articles/2018/04/30/pr18154-imf-executive-board-concludes-2018-article-iv-consultation-with-colombia?cid=em-COM-123-36986), IMF found that during

Companies

Nutresa 1Q 2018 Profits Dip Year-on-Year, but Sales Rise

Medellin Herald April 27, 2018

Medellin-based multinational foods giant Grupo Nutresa announced April 27 that its first quarter (1Q) 2018 net profits fell 13.1% year-on-year, to COP$121 billion (US$43 million). The profit dip “is mainly explained by not accounting a portion of the dividends from our investment portfolio during the period, COP$26 billion [US$9.3 million], which will be registered during

Schools

Medellin’s First-Ever Congress of Junior Ornithology Students: Impressive Growth, Wider Appreciation

Medellin Herald April 24, 2018

Just as Medellin pioneered the development of Colombian wild-bird study and conservation via the founding of Sociedad Antioqueña de Ornitologia (SAO) nearly 35 years ago, now the city can boast of hosting the first-ever congress of junior ornithology students. In the April 19 event at Medellin’s Colegio Montessori, some 70 students from four local schools […]

General News

EPM Launches Pioneering Solar-Power Array at Antioquia Hydroelectric Dam

Medellin Herald April 18, 2018

Medellin-based multinational electric power giant EPM announced April 18 the launch of a novel floating solar photovoltaic (PV) power generation scheme at El Peñol lake, adjacent to the company’s 560-megawatt Guatape hydroelectric power station in Antioquia. The floating PV station will be the first of its kind in Spanish-speaking Latin America, according to EPM. The […]

Colombian economy

Energy Demand in Colombia, Antioquia Rising Year-on-Year

Medellin Herald April 18, 2018

Medellin-based national electric-power grid operator and power-trading center XM announced April 17 that power demand in Colombia is up 3% year-on-year through first-quarter (1Q) 2018, compared to a 1.8% net year-on-year decline in 1Q 2017. Over the last 12 months through March 2018, Colombian power demand is up 2.5%, whereas power demand actually fell 1.5% […]

General News

ANI Touts Relaunch of Freight Railway Service Passing Through Antioquia

Medellin Herald April 11, 2018

Colombia’s Agencia Nacional de Infraestructura (ANI, the national infrastructure development agency) announced April 11 the successful relaunch of rail freight transport on a 522-kilometers-long line aiming to link Atlantic ports to the interior — passing through Antioquia on the way. ANI spent COP$212 billion (US$78 million) on the rail-line rehab project, aiming to

General News

Medellin’s EPM Public Utility Making Impressive Financial, Social, Environmental Progress

Medellin Herald April 10, 2018

Medellin-based multinational utilities giant EPM on April 7 presented highlights of 2017 results including impressive growth in profitability along with expansion of water, power, garbage-collection, sewer and natural-gas services to thousands more customers in the metro area. In a press conference, EPM general manager Jorge Londoño de la Cuesta and Medellin Mayor Federico

Companies

Gran Colombia Gold 2017 Profits Rise, Red Eagle Mining Expands

Medellin Herald April 2, 2018

Canada-based multinationals Gran Colombia Gold (GCC) and Red Eagle Mining (REM) in late March both reported progress in their gold mining operations here in Antioquia during 2017. For GCC, adjusted net income for fourth quarter (4Q) 2017 nearly tripled, to US$9.1 million, from US$3.4 million in 4Q 2016. Similarly, for full-year 2017, GCC’s adjusted net […]