Companies

Fabricato Posts US$2.6 Million Net Loss in 2Q 2018

Medellin Herald July 31, 2018

Medellin-based textile giant Fabricato on July 31 posted a COP$7.4 billion (US$2.6 million) net loss for second quarter (2Q) 2018, down from a COP$16 billion (US$5.5 million) net profit in 2Q 2017. Earnings before interest, taxes, depreciation and amortization (EBITDA) came-in at COP$2.8

Companies

Nutresa 2Q 2018 Profits Jump 27% Year-on-Year

Medellin Herald July 30, 2018

Medellin-based international packaged foods giant Grupo Nutresa announced July 27 that its second-quarter (2Q) 2018 profits rose 27% year-on-year, to COP$124 billion (US$43 million), while sales rose 5%, to COP$2.2 trillion (US$765 million). Earnings before interest, taxes, depreciation and amortization (EBITDA) rose a modest 1.6%, to COP$267 billion (US$93 million), while

Companies

Cemex Colombia 2Q 2018 Operating EBITDA, Sales Dip Year-on-Year

Medellin Herald July 27, 2018

Cemex Latam Holdings — a division of Mexico-based cement giant Cemex — announced July 26 that second-quarter (2Q) 2018 operating earnings before interest, taxes, depreciation and amortization (EBITDA) for its Colombia operations dipped 4% year-on-year, to US$21.6 million. Sales in 2Q 2018 in Colombia also dipped 5% year-on-year, to US$129 million, while

Companies

Accenture Unveils ‘Advanced Technology Center’ in Medellin; 500 Jobs Opening

Medellin Herald July 19, 2018

New York-based global high-tech consultancy Accenture on July 18 officially announced the opening of its “Advanced Technology Center” at Medellin’s “Ruta N” landing space, aiming to serve information technology (IT) customers throughout the Americas. “The center’s professionals will work with clients in a wide range of industries, including finance, telecommunications,

Companies

Medellin Motorcycle Giant Auteco Opens National Distribution Center in Rionegro

Medellin Herald July 18, 2018

Medellin-based motorcycle assembler/wholesaler Auteco announced July 10 that it just opened a massive, 9,125-square-meters parts-distribution center in the neighboring suburb of Rionegro, Antioquia. Auteco – born in Medellin in 1941 – currently builds and markets major motorcycle brands for all of Colombia, including Kawasaki, Bajaj, Kymco, KTM, and Stärker, the latter an

Companies

Medellin’s Growing International Fame for Tango Extends to Shoes

Medellin Herald July 18, 2018

Tango fanaticism in Medellin is perhaps second only to Buenos Aires — and only partly because the world’s most famous tango singer Carlos Gardel tragically died in a plane accident here on June 24, 1935. Since then, numerous tango clubs have sprung-up around Medellin, eventually prompting the city to organize the popular, annual Medellin Tango

Companies

XM Debuts High-Tech National Electric Grid Control Center in Medellin

Medellin Herald July 5, 2018

Medellin-based national electric-power grid operator and wholesale trading center XM announced July 5 the debut of an ultra-high-tech control center that will help maintain and improve power reliability and rationality for all Colombia. According to XM, the new control center is “the most modern of [all] America, with technological platforms of latest generation, ensuring

Companies

Cemex Colombia Loses Appeal on Price-Fixing; Former Execs Charged in Maceo Plant Scandal

Medellin Herald June 28, 2018

Cemex Colombia – a subsidiary of Mexican multinational cement producer Cemex Inc. and Cemex LatAm Holdings – announced June 22 that it failed in its final appeal over a cement price-fixing charge brought by Colombia’s Superintendencia de Industria y Comercio (SIC). The company will pay a COP$923 million (US$316,476) fine as a result of the […]

Companies

Netherlands-Based E-Commerce Consultant ‘Sana’ Opens LatAm Regional Office in Medellin

Medellin Herald June 21, 2018

Medellin’s business promotion agency ACI (Agencia de Cooperacion e Inversion de Medellin y el Area Metropolitana) and Netherlands-based Sana Commerce jointly announced June 21 the launch of Sana’s e-commerce consulting business at the high-tech “Ruta N” business center here. Attending the launch was Netherlands Ambassador to Colombia JJ Roodenburg as well as Sana Commerce

Companies

Grupo Sura 1Q 2018 Profits Drop 23.5% Year-on-Year

Medellin Herald May 18, 2018

Medellin-based insurance, pensions and finance giant Grupo Sura announced May 15 that its first quarter (1Q) 2018 consolidated profit fell 23.5% year-on-year, to COP$310 billion (US$108.5 million). Consolidated revenues for the company also dropped 2.2% year-on-year, to COP$4.76 trillion (US$1.66 billion). Despite the corporate-wide dip in revenues and profits, “positive