General News

Medellin’s ‘Ruta N’ Inks Robotics, Artificial-Intelligence Development Deal

Medellin Herald December 3, 2017

New York-based Institute for Robotic Process Automation and Artificial Intelligence (IRPA-AI) announced November 29 that Medellin’s “Ruta N” information-technology development center inked a deal whereby IRPA-AI will help launch a “Digital Americas Pipeline Initiative” (DAPI). “The initiative

Companies

Fabricato Moving Rionegro Plant to Bello; Notes Anti-Dumping Decision

Medellin Herald December 3, 2017

Medellin-based textile giant Fabricato SA announced November 28 that it has begun the process of moving the entire operations of its “Riotex” factory in Rionegro to its Bello factory – both of which are nearby Medellin. Transfer of dry production units will be completed by January 2018, while the wet production units will move to […]

Companies

EPM’s Nine-Months 2017 Profits Soar 25% Year-on-Year

Medellin Herald December 3, 2017

Medellin-based multinational utilities giant EPM reported November 28 that its net profits for the first nine months of 2017 hit COP$1.6 trillion (US$534 million), up 25% year-on-year, while earnings before interest, taxes, depreciation and amortization (EBITDA) rose 22%, to COP$3.9 trillion (US$1.3 billion). So far this year, the city of Medellin – EPM’s sole owner […]

Congresses & Conferences

‘FISE’ Electricity Congress Generates US$230 Million; EV’s, Solar Power Grab Center Stage

Medellin Herald December 1, 2017

Organizers of the biannual Feria Internacional del Sector Electrico (FISE) electric-power industry conference in Medellin announced December 1 that this year’s edition generated US$230 million in new business deals, of which US$214 million involved 50 international buyers and US$10.9 million from 80 national buyers. FISE’s organizers include the Chamber of Commerce of

General News

Antioquia Continues to Rank High in Competitiveness: CPC Annual Study

Medellin Herald November 24, 2017

A new study (see: https://idc.compite.com.co/) by the national private-sector competitiveness council (Consejo Privado de Competitividad, CPC) and Universidad del Rosario shows that Antioquia continues to rank near the top in competitiveness among all of Colombia’s 32 departments (states). The departmental competitiveness index (Indice Departamental de

Companies

Antioquia Gold Mining Projects Bloom, but Environmental, Social Issues Remain: Special Report

Medellin Herald November 22, 2017

For more than 150 years, Antioquia has been Colombia’s biggest gold producer — and in-development projects are likely to keep it that way. However, the 320 delegates to the second annual Colombia Gold Symposium (CGS) here in Medellin November 14-15 also heard warnings on real and potential threats to growth — with environmental issues potentially […]

General News

Zero-Emissions ‘Metrocable,’ Electric-Car Recharging Gain More Ground in Medellin

Medellin Herald November 21, 2017

Medellin Mayor Federico Gutiérrez announced November 20 that the city’s enormously popular “Metro” public-transport network will add yet another zero-emissions aerial-tram “Metrocable” system — helping to stem air pollution mainly caused by obsolete diesel and gasoline vehicles. The 2.8-kilometers-long, COP$298 billion (US$99 million) “El Picacho” aerial tram is due

Companies

Medellin-Based Architectural-Engineering Giant AIA Files for Bankruptcy

Medellin Herald November 20, 2017

Colombia’s corporate oversight agency (Superintendencia de Sociedades) announced November 17 that Medellin-based architectural engineering giant Arquitectos e Ingenieros Asociados (AIA) filed for bankruptcy reorganization because of likely delays in paying creditors next year. According to the Superintendencia, AIA reported revenues of COP$179 billion (US$59.6 million) at

Companies

Grupo Familia 3Q 2017 Profits Dip Year-on-Year

Medellin Herald November 17, 2017

Medellin-based multinational personal-hygiene products maker Grupo Familia announced November 15 that its third quarter (3Q) 2017 net profit dipped to COP$44 billion (US$14.6 million), down from CP$51 billion (US$16.9 million) in 3Q 2017. However, for the first nine months of 2017, Familia’s net profit has more than tripled, to COP$159 billion (US$52.8 million), compared

General News

‘Puerto Antioquia’ Construction Would Start in 2018; Open in 2020

Medellin Herald November 17, 2017

Antioquia Governor Luis Perez announced November 15 the signing of a memo of understanding that would clear the way for starting construction in March 2018 of the US$600 million “Puerto Antioquia” ocean-freight port near Turbo. Signing the memo were the Antioquia departmental government and its Instituto de Desarollo de Antioquia (IDEA) investment agency, France-based CMA