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

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

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

Companies

Medellin’s FCM Global Becomes 1st Fully Licensed Medical Cannabis Producer-Exporter

Medellin Herald October 4, 2018

Medellin-based FCM Global announced October 3 that it has become the first Colombian medical-marijuana producer to win all four required licenses for cultivation, processing, manufacture and export of “low-THC” cannabis-oil extracts. “Recently issued by the Colombian Ministry of Justice, this export license complements FCM’s existing regulatory approvals, granted to the

Companies

Colanta, Proleche Among Antioquian Companies Winning Dairy Exports to Mexico

Medellin Herald August 28, 2018

Colombia’s Ministry of Commerce, Industry and Tourism (MinCIT) announced August 28 that Antioquian milk-products producers Colanta and Proleche are among 11 companies that just won certifications and approvals to export certain dairy-based products to Mexico. MinCIT, ProColombia and Invima collectively worked to open Mexico’s doors to Colombian milk products from 13 newly

Companies

Update: Moody’s, Fitch Both Confirm EPM’s Investment-Grade Rating Despite Hidroituango Issues

Medellin Herald August 25, 2018

Wall Street bond rater Fitch announced September 12 that it has decided to maintain its “AAA (col)” investment-grade rating for Medellin-based multinational electric power giant EPM — but issued a cautionary “negative” outlook. The Fitch decision follows in the wake of fellow Wall Street bond rater Moody’s, which last month likewise maintained an

Companies

ISA 2Q 2018 Net Income Drops Year-on-Year, But First-Half 2018 Still Profitable

Medellin Herald August 23, 2018

Medellin-based multinational electric-power grid operator ISA reported August 13 that its second quarter (2Q) 2018 net income dropped 16% year-on-year, to COP$232 billion (US$77.6 million). Earnings before interest, taxes, depreciation and amortization (EBITDA) for 2Q 2018 likewise dropped 3.8% year-on-year, to COP$945 billion (US$316 million), according to the company. As