Companies

Fabricato Trims Losses in 3Q 2018

Medellin Herald November 4, 2018

Medellin-based textile giant Fabricato on November 2 posted a third quarter (3Q) net loss of COP$9 billion (US$2.8 million), an improvement over the COP$19 billion (US$5.9 million) net loss in 3Q 2017. Earnings before interest, taxes, depreciation and amortization (EBITDA) also improved

Companies

EPM Wins Crucial Asset-Sales OK, Starts to Overcome Hidroituango Crisis

Medellin Herald October 30, 2018

The Medellin City Council early this morning (October 30) voted 16-5 to approve EPM’s sale of an estimated COP$4 billion (US$1.25 billion) worth of non-strategic assets in order to fill a gaping fiscal hole left by problems with its under-construction “Hidroituango” hydroelectric dam here in Antioquia. The vote followed dozens of public hearings, City Council […]

Companies

Nutresa 3Q 2018 Net Profit Jumps 19% Year-on-Year

Medellin Herald October 28, 2018

Medellin-based multinational foods giant Nutresa reported October 26 that its third quarter (3Q) 2018 net profit rose 19% year-on-year, to COP$386 billion (US$121 million). “This growth is the result of a balanced equation that includes rising sales, efficiency in purchase of basic materials, productivity programs, lower growth in operating expenses and a continuing

Companies

Nutresa 3Q 2017 Profits Rise 3.6% Year-on-Year

Medellin Herald October 27, 2018

Medellin-based multinational foods manufacturer Grupo Nutresa announced October 27 that its third quarter (3Q) 2017 net consolidated profit rose 3.6% year-on-year, to COP$324 billion (US$107 million), while gross profit rose 3% year-on-year, to COP$2.8 trillion (US$930 million). Sales in Colombia grew 3.1% year-on-year, to COP$4 trillion (US$1.3 billion), while

Companies

Cemex Colombia 3Q 2018 Sales Dip, but EBITDA Improves

Medellin Herald October 26, 2018

Cemex LatAm Holdings reported October 25 that its Colombia division saw third quarter (3Q) 2018 sales dip 5% year-on-year, to US$134 million, but operating earnings before interest, taxes, depreciation and amortization (EBITDA) rose 11%, to US$26 million. Gross profit also rose 11% year-on-year in Colombia, to US$53 million, while operating margin rose 15.9% year-on-year,

Companies

Everfit Bankruptcy Reorganization Wins SuperSociedades OK

Medellin Herald October 25, 2018

Colombia’s corporate oversight agency Superintendencia de Sociedades (SuperSociedades) announced October 25 that Medellin-based clothing manufacturer Everfit won approval for its bankruptcy reorganization plan. According to SuperSociedades, “the [reorganization] agreement has an expected duration of six years and 10 months. This [deal] seeks the conservation of about 100

Companies

Wine Production, Appreciation, Business Growing in Antioquia, Valle del Cauca, Boyaca, Santander

Medellin Herald October 22, 2018

Medellin’s annual list of wine-tasting events featuring local and international wines continues to grow — along with workshops led by leading producers and marketers. One such event here on October 20 — organized by local daily newspaper El Colombiano — featured a lecture by Carlos Bravo, owner and founder of the “Viña Sicilia” vineyard and

Congresses & Conferences

Medellin Bird Festival 2018: Balancing Environmental, Economic Imperatives

Medellin Herald October 12, 2018

More than 1,540 in-person attendees this month at the 5th annual Medellin Bird Festival (Festival de las Aves Medellin 2018) October 3-6 got a bird’s-eye view of how companies, governments and non-governmental organizations (NGOs) here are trying to find creative ways to balance environmental and economic conflicts. The growing, annual Medellin Bird Festivals –

Companies

Continental Gold Honors Employees Murdered by FARC ‘Dissidents,’ Hires Top-Flight Security Agency

Medellin Herald October 8, 2018

Canada-based gold miner Continental Gold this month organized memorial masses for four of its employees murdered by FARC “dissident” groups in Antioquia — and then announced the hiring of a top-flight security agency that aims to prevent future such incidents. Three of the four victims – geologists Camilo Andrés Tirado (31), Laura Alejandra Flóres (27) […]

Companies

Metro Medellin Debuts Colombia’s Biggest Shopping Mall: ‘Viva’ Envigado

Medellin Herald October 8, 2018

Medellin-based multinational retail giant Exito announced October 5 the long-awaited opening of Colombia’s biggest shopping mall: the “Viva” center in the Medellin suburb of Envigado. “With an investment of approximately COP$660 billion [US$217 million] and a commercial area of 137,000 square meters, Viva Envigado — the largest commercial and business complex in the