One of the factors taken into account by the company for this decision was that between 2018 and 2019, activity in the construction sector decreased by 10%.

See "Cement: Market Figures up to March 2019"

The information was confirmed in a letter sent by Gustavo Adolfo Villa, general director of Argos Honduras, to Juan Carlos Sikaffy, president of the Honduran Council of Private Enterprise (Cohep).

Laprensa.hn reports that "... Because of the current conditions of the cement market in the country, we will proceed with the closure of our production centers, specifically the one located in the sector of La Criba, municipality of San Lorenzo, department of Valle', explains the letter."

The article adds that "... On the other hand, imports of cement in conditions detrimental to the State, which began in 2017 has meant the entry into Honduras of 209,000 metric tons of cement from China."

According to reports from CentralAmericaData, between 2017 and 2018, the value of imported hydraulic cement in the region grew 6%, from $143 million to $151 million.

Source: laprensahn.com

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From a statement issued by Cementos Argos:

"..