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Empresas Publicas de Medellin (EPM) – now a multinational electric power, water, sewer and natural-gas utility – announced April 27 that its first quarter (1Q) 2017 net income soared 460% year-on-year, to COP$606 billion (US$206 million).


Medellin-based textile giants Coltejer and Fabricato posted net losses for full-year 2016 -- in contrast to the net profits posted by both companies during 2015.


Cormagdalena – the Colombian government agency overseeing a massive dredging project for the Magdalena River – announced April 17 that it has officially cancelled Navelena SAS’s contract because of failure to complete financing.


The latest report from Colombia’s economic statistics agency (DANE) shows that Antioquia’s exports rose 14.7% year-on-year in the first two months of 2017 -- and Antioquia likewise continues to surpass all Colombian departments in total share of exports, at 19.4%.


Medellin-based gold miner Mineros SA announced March 22 that its full-year 2016 profit rose 36% year-on-year, to COP$98.8 billion (US$33.8 million), while sales in Colombia rose 8.3%, to COP$382 billion (US$130.7 million).


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About Medellin Herald

Medellin Herald is a locally produced, English-language news and advisory service uniquely focused upon a more-mature audience of visitors, investors, conference and trade-show attendees, property buyers, expats, retirees, volunteers and nature lovers.

U.S. native Roberto Peckham, who founded Medellin Herald in 2015, has been residing in metro Medellin since 2005 and has traveled regularly and extensively throughout Colombia since 1981.

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