Companies

Grupo Argos 3Q 2016 Net Profit Jumps 39% Year-on-Year

Medellin Herald November 30, 2016

Medellin-based construction, energy, cement and port-operator giant Grupo Argos announced November 29 that its third quarter (3Q) 2016 net profits jumped 39% year-on-year, to COP$880 billion (US$286 million) on sales of COP$10.8 trillion (US$3.5 billion), up 24%. Earnings before interest,

Companies

Netcentric Boosting High-Tech Hiring in Medellin

Medellin Herald November 18, 2016

Investment promotion agency Agencia de Cooperación e Inversión de Medellín (ACI Medellín) announced November 17 that Switzerland-based software developer Netcentric aims to boost hiring dramatically in Medellin over the next four years. The hiring plan – which would boost employment by 150 to 300 more positions – would drastically expand Netcentric’s current 10-employee

Companies

Medellin-Based Nutresa, ISA, Conconcreto See 3Q 2016 Earnings Improve

Medellin Herald November 11, 2016

Medellin-based construction giant Conconcreto announced November 9 that its third-quarter (3Q) 2016 net profits rose 23% year-on-year while gross income hit COP$1.1 trillion (US$353 million), up 29% year-on-year. Meanwhile, the company’s order backlog grew to COP$3.4 trillion (US$1.09 billion) — mainly in highway infrastructure projects, but also in the giant

Companies

Medellin-Based Companies Score High in 2016 Merco Reputation Rankings

Medellin Herald November 3, 2016

Medellin-based Bancolombia – Colombia’s biggest bank – once again took first place over-all in the latest Merco rankings for best reputations among Colombian companies. Taking second place was Medellin-based food-products giant Nutresa, with Cementos Argos taking fourth place. Medellin-based Grupo Sura (insurance, finance) took eighth place; Grupo EPM (public utilities)

Companies

Continental Gold Boosts Investment in Socially Responsible Mining in Antioquia

Medellin Herald September 27, 2016

Toronto, Canada-based Continental Gold on September 26 unveiled its first-ever “sustainability” report outlining efforts in favor of environmentally and socially responsible gold mining – mainly at a US$600 million development project at Buriticá, Antioquia. Industrial-scale gold production at Buriticá is expected start in 2019, averaging 253,000 ounces per year over a

Companies

Medellin-Based Agua Bendita Founders Win Prestigious Global Entrepreneur Prize

Medellin Herald September 15, 2016

Agua Bendita – founded by Medellin natives Catalina Álvarez and Mariana Hinestroza – on September 12 joined the winners circle in Massachusetts-based Endeavor’s ‘International Selection Panel’ (ISP) entrepreneurship prize for 2016. The company – which now operates in 50 countries besides Colombia – “creates hand-made, premium swimwear by incorporating modern techniques and

Companies

Corona: Born in Antioquia 135 Years Ago, Now a Multinational Giant

Medellin Herald August 23, 2016

Colombia-based Corona — manufacturer of porcelain products, construction goods and majority partner in the “Home Center” retail chain — on August 18 celebrated the 135th birthday of its founding in the Medellin suburb of Caldas, Antioquia. According to the company, Organizacion Corona traces its roots to 1881, originally as a ceramic dish-wear producer at a

Companies

PharmaCielo Buys Marijuana Farm, Nursery in Rionegro

Medellin Herald July 25, 2016

Toronto, Canada-based PharmaCielo announced July 25 that it paid US$5 million plus 1.7 million in equity shares for a 27-hectares farm and greenhouse-nursery facility in Rionegro, Antioquia, for development of a medical-marijuana cultivation and processing plant. “The 30-year-old turnkey facility houses an office building and more than 12 hectares of open-air greenhouses,

Companies

More High-Tech Investment Seen Coming to Medellin from Uruguay, Brazil

Medellin Herald July 7, 2016

Medellin’s investment promotion agency –“Agencia de Cooperación e Inversión de Medellín y el Área Metropolitana” (ACI) –  announced July 6 that five Uruguay-based companies and two Brazil-based companies are eyeing new business launches or expansions here. According to ACI, these companies expressed interest in new Medellin investments during ACI-organized

Companies

PharmaCielo Wins Colombian License for Medical Marijuana Manufacture

Medellin Herald June 28, 2016

Toronto, Canada-based PharmaCielo announced June 28 that it won a manufacturing license from Colombia’s Ministry of Health and Social Protection to process marijuana plants for “medical and scientific purposes.” The company first announced plans to obtain licenses and then build a marijuana processing plant in the Medellin suburb of Rionegro, Antioquia (see Medellin