Companies

Air Europa Expands Medellin-Madrid Nonstop Service

Medellin Herald February 11, 2020

Spain-based Air Europa announced February 10 that it’s expanding its Medellin-Madrid-Medellin nonstop service to four times per week (up from three currently) starting in April 2020. “This new operation, which responds to the good [market-demand] behavior shown by the route since its launch

Companies

Valores Simesa Reports US$6.1 Million Profit for Full-Year 2019, Proposes Stock Buyback

Medellin Herald February 10, 2020

Medellin-based real-estate developer Valores Simesa on February 7 reported an after-tax profit of COP$21.1 billion (US$6.1 million) for full-year 2019 — and simultaneously revealed in a filing with Colombia’s Superfinanciera agency a proposed COP$20 billion (US$5.8 million) stock buyback. Simesa is the developer of the giant “Ciudad del Rio” residential, commercial

Congresses & Conferences

International ‘Business Matchmaking Forum’ Launches Here March 16 – 18

Medellin Herald February 7, 2020

Foreign investment promotion agency ProColombia announced February 6 the upcoming launch of its annual “Business Matchmaking Forum” at Medellin’s Plaza Mayor convention center — expected to attract more than 3,000 entrepreneurs along with hundreds of international corporate buyers. The event (see: https://www.macrorruedasprocolombia.co/macrorrueda80/), “is one of

Companies

Enka Full-Year 2019 Profits Skyrocket by 253% Year-on-Year

Medellin Herald February 7, 2020

Medellin-based textiles and waste-plastics recycling specialist Enka Colombia revealed in a February 6 filing with Colombia’s Superfinanciera oversight agency that its full-year 2019 net profits jumped 253% year-on-year, to COP$15 billion (US$4.4 million). “In addition to good operating results, the net result was favored by lower financial expense due to the reduction in

Schools

Colombia, Antioquia Making Huge Leaps in Tech Education with SENA Initiatives

Medellin Herald February 6, 2020

Colombia’s giant national technical/technological training institute SENA (Servicio Nacional de Aprendizaje) announced February 4 a COP$20 billion (US$6 million) investment in a new training-center campus in La Ceja, Antioquia — serving multiple municipalities in Medellin’s “oriente” region. According to the joint announcement by La Ceja Mayor Nelson Carmona Lopera

Companies

Coltejer Posts US$7.2 Million Net Loss for Full-Year 2019

Medellin Herald January 30, 2020

Medellin-based textile giant Coltejer on January 29 revealed in a filing with Colombia’s corporate oversight agency Superfinanciera that it suffered a full-year 2019 net loss of COP$24.9 billion (US$7.2 million), a small improvement over the COP$28.9 billion (US$8.5 million) net loss in 2018. Sales also dipped slightly, to COP$141.9 billion (US$41.7 million ) in 2019 […]

Companies

Holcim to Debut Tech Center at Ruta N in Medellin Next Year; 1,000 New High-Tech Jobs

Medellin Herald January 29, 2020

Switzerland-based global cement/concrete giant LafargeHolcim announced January 28 that it aims to invest US$10 million in a new information-technology research center next year for all the Americas at the Ruta N technology incubation center in Medellin. According to the official press bulletin from the Medellin Mayor’s office, the new research center will employ 250 people

Congresses & Conferences

Colombiatex 2020 Sales Deals Skyrocket Above US$750 Million; Medellin A Big Winner

Medellin Herald January 23, 2020

Medellin-based Inexmoda – the international trade group for textiles and clothing – announced January 23 at the conclusion of the 32nd annual “Colombiatex” trade show here that anticipated sales deals soared to US$753 million — up drastically from US$480 million last year. The huge jump came even despite an anti-government protest march in Medellin (and […]

General News

USAID ‘Legal Gold’ Project Paying Off Financially, Environmentally for Small Miners

Medellin Herald January 23, 2020

The U.S. Agency for International Development (USAID) “Oro Legal” (Legal Gold) project in Antioquia announced January 23 that between the September 2016 launch of the project and October 2019, dozens of formerly artisanal miners in the project produced 2.9 tons of gold worth more than US$112 million. “The results of gold sales and the payment […]

Infrastructure

Crucial Medellin-to-Atlantic Highway Nears Financing Deal; Includes National Government

Medellin Herald January 23, 2020

Colombia’s national government is about to unveil a new, COP$1.4 trillion (US$416 million) financing plan to ensure completion of the “phase two” section of highway connecting Santa Fe de Antioquia to the under-construction “Toyo” tunnel — both of which will link Medellin westward to new and existing Atlantic freight ports as part of the “Mar […]