Infrastructure

EPM: Enormous Environmental, Fiscal Benefits Nationally & Locally as Hidroituango Recovery Begins

Medellin Herald September 28, 2019

Medellin-based power giant EPM on September 27 gave journalists a first public tour of the start of recovery work in the damaged machine room of the US$5 billion, 2.4-gigawatt “Hidroituango” hydroelectric project in Antioquia. Having already reached crucial milestones including completion of

Infrastructure

Update: EPM Notes that Controller General’s Hidroituango Report Doesn’t Find Corruption, Malfeasance

Medellin Herald September 20, 2019

Medellin-based electric power giant EPM on September 25 issued a bulletin pointing out that nothing in the latest Colombian Controller General’s report about the US$5 billion “Hidroituango” hydroelectric project in Antioquia finds any instances of corruption. Nor does the Controller’s report point to any criminal or disciplinary actions that would result from the April

Companies

EPM Wins Hidroituango Insurance Claim Worth Trillions; Finance Outlook Dramatically Improves

Medellin Herald September 17, 2019

EPM general manager Jorge Londoño de la Cuesta revealed in a September 17 press conference here in Medellin that insurer Mapfre just issued a letter of coverage worth trillions of Colombian pesos for damages at the under-construction, US$5 billion Hidroituango hydroelectric plant in Antioquia. The exact amount of payment won’t be known for months, as […]

Events

Colombian Pop Star Carlos Vives Inaugurates ‘Gaira Café’ at Medellin’s JMC Airport

Medellin Herald September 12, 2019

Colombian music star Carlos Vives first gained international fame in 1993 by bringing traditional vallenato music to the whole world, via the sensational hit-single, “La Gota Fria.” Ever since, Vives’ pioneering group “La Provincia” has frequently topped the Latin American pop-music charts — as well as popular music-video internet links. Besides winning numerous

Professional services

Big Fleets Here Tap Eletech for ‘Mobileye,’ ‘Ituran’ Technologies to Cut Accidents, Waste, Losses

Medellin Herald September 4, 2019

Big corporate fleets in and around Medellin and across Colombia increasingly are turning to sophisticated vehicle technologies in order to avoid accidents, cut fuel costs, avoid merchandise damage, monitor driver behavior and improve routing. Among local fleets employing and/or evaluating novel “Mobileye” and “Ituran” systems are insurance giant Sura, cement maker Cemex,

Congresses & Conferences

Antioquian Coffee Industry Joins Booming Specialty-Coffees Initiative

Medellin Herald September 2, 2019

Antioquian coffee growers, marketers, cooperatives, trade associations, educators, governments and the Medellin Chamber of Commerce for Antioquia (“CCMA” in Spanish initials) are brewing-up a remarkable initiative that aims to percolate a more-profitable “specialty coffee” business — both locally and world-wide. At the third “Café Fina Experiencia” conference August

Companies

Grupo Familia 1H, 2Q 2019 Profits Rise Year-on-Year

Medellin Herald August 24, 2019

Medellin-based multinational paper products and personal-hygiene specialist Grupo Familia revealed in an August 20 filing with Colombia’s Superfinanciera corporate oversight agency that its first half (1H) 2019 net income rose to COP$126 billion (US$37 million), up from COP$98 billion (US$28 million) in 1H 2018. Gross revenues also rose, to COP$1.28 trillion (US$374

Congresses & Conferences

Medellin’s ‘Plaza Mayor’ Convention Center 1H 2019 Revenues, Profits Jump Year-on-Year

Medellin Herald August 22, 2019

Medellin’s city-owned “Plaza Mayor” convention center reported August 21 that its first-half (1H) 2019 revenues soared 43% year-on-year, to COP$13 billion (US$3.8 million). Earnings before interest, taxes, depreciation and amortization (EBITDA) rose to COP$3.7 billion (US$1.09 million), compared to an EBITDA net loss of COP$3 billion (US$884,000) in 2015, according to

General News

Proantioquia: Medellin, Antioquia Must Boost Industrial Specialization, Education, Infrastructure

Medellin Herald August 21, 2019

A new report from Medellin-based think-tank Proantioquia shows that the Medellin metro area and the surrounding Antioquia department must redouble efforts to boost industrial specialization, public education, public health and transport infrastructure in order to meet the challenges of the coming decade. The report (see:

Companies

Grupo Orbis 2Q 2019 Net Income Greatly Improves Year-on-Year

Medellin Herald August 16, 2019

Medellin-based multinational Grupo Orbis – which includes paint manufacturing giant Pintuco – on August 15 reported COP$6 billion (US$1.7 million) net income for second quarter (2Q) 2019, a big reversal from a COP$17 billion (US$4.9 million) net loss in 2Q 2018. Earnings before interest, taxes, depreciation and amortization (EBITDA) skyrocketed by 490% year-on-year, to