Companies

Creytex ‘Intelligent Factory’ Shows How Medellin Can Compete in ‘Fast Fashion’

Medellin Herald February 10, 2018

Starting humbly from a garage workshop in 1971, Medellin-based clothing manufacturer Creytex has since become an especially successful innovator in the fiercely competitive global textile/clothing business. It’s an exceptional story, as most local textile and clothing manufacturers here

Companies

Cemex Colombia 4Q 2017 Earnings Decline Year-on-Year; Maceo Plant in Limbo

Medellin Herald February 9, 2018

Cemex Colombia fourth quarter (4Q) 2017 earnings before interest, taxes, depreciation and amortization (EBITDA) fell 20% year-on-year, to US$30 million, Cemex Latam Holdings (CLH) announced February 8. Net sales for the CLH-Colombia division also fell 12% year-on-year, to US$134 million, according to the company. For CLH’s regional operations, “during the fourth

Companies

Exito’s ‘Didetexco’ Alliance Helps Colombia Compete in Tough Clothing Markets

Medellin Herald January 28, 2018

Medellin-based multinational retail giant Exito is enjoying ever-greater success with its “Didetexco” clothing manufacture/export subsidiary – even in the face of Colombia’s  competitive problems with illegal, below-cost, and unethical clothing vendors (mainly exporting from Asia). In a presentation to the Colombiatex 2018 annual show here January 23, Didetexco general

Companies

Celsia Full-Year 2017 Profits Rise 47% Despite Lower Power Prices

Medellin Herald January 27, 2018

Medellin-based Celsia – the electric-power division of corporate giant Grupo Argos – on January 26 reported full-year 2017 net profits of COP$251 billion (US$89 million), up 47% from COP$171 billion (US$61 million) in 2016. Earnings before interest, taxes, depreciation and amortization (EBITDA) hit COP$1.12 trillion (US$399 million) for full-year 2017, up 9% year-on-year

Companies

ACI Touts Arrival of Swiss Multinational Amaris to Medellin’s ‘Ruta N’

Medellin Herald January 19, 2018

Medellin business-development agency Agencia de Cooperación e Inversión de Medellín y el Área Metropolitana (ACI) announced January 19 that Switzerland-based multinational consultant Amaris plans to expand its Colombian and South American operations following start-up of new offices at Medellin’s “Ruta N” high-tech hosting center. “Teamwork between ACI Medellín, Ruta N and

Companies

EPM Taps IDB, International Banks for US$1 Billion ‘Hidroituango’ Finance

Medellin Herald December 31, 2017

Medellin-based multinational power giant EPM announced December 29 that it won a US$1 billion credit from the Interamerican Development Bank (IDB) “Invest” funding subsidiary for debt finance of its 2.4-gigawatt, US$5 billion “Hidroituango” hydroelectric project in Antioquia. The credit package includes payback terms of eight-to-12 years. Draws would take place during a

Companies

Fabricato Moving Rionegro Plant to Bello; Notes Anti-Dumping Decision

Medellin Herald December 3, 2017

Medellin-based textile giant Fabricato SA announced November 28 that it has begun the process of moving the entire operations of its “Riotex” factory in Rionegro to its Bello factory – both of which are nearby Medellin. Transfer of dry production units will be completed by January 2018, while the wet production units will move to […]

Companies

EPM’s Nine-Months 2017 Profits Soar 25% Year-on-Year

Medellin Herald December 3, 2017

Medellin-based multinational utilities giant EPM reported November 28 that its net profits for the first nine months of 2017 hit COP$1.6 trillion (US$534 million), up 25% year-on-year, while earnings before interest, taxes, depreciation and amortization (EBITDA) rose 22%, to COP$3.9 trillion (US$1.3 billion). So far this year, the city of Medellin – EPM’s sole owner […]

Companies

Antioquia Gold Mining Projects Bloom, but Environmental, Social Issues Remain: Special Report

Medellin Herald November 22, 2017

For more than 150 years, Antioquia has been Colombia’s biggest gold producer — and in-development projects are likely to keep it that way. However, the 320 delegates to the second annual Colombia Gold Symposium (CGS) here in Medellin November 14-15 also heard warnings on real and potential threats to growth — with environmental issues potentially […]

Companies

Medellin-Based Architectural-Engineering Giant AIA Files for Bankruptcy

Medellin Herald November 20, 2017

Colombia’s corporate oversight agency (Superintendencia de Sociedades) announced November 17 that Medellin-based architectural engineering giant Arquitectos e Ingenieros Asociados (AIA) filed for bankruptcy reorganization because of likely delays in paying creditors next year. According to the Superintendencia, AIA reported revenues of COP$179 billion (US$59.6 million) at