Honduras Authorizes Sale of Lafarge to Argos of Colombia

A ruling states that the already concentrated Honduran cement market will not be altered by the sale of shares to the Colombian company Argos.  

Thursday, December 12, 2013

From a press release by the Commission for the Defense and Promotion of Competition (CDPC):

The Commission for the Defense and Promotion of Competition (CDPC) as part of its advocacy of free competition within the framework of its powers and in relation to economic concentrations, was notified about a project of economic concentration in the Cement Industry, involving the economic agents Cementos Argos, S. A de C.V. (buyer) and Lafarge Cementos S.A. Unipersonal (seller).

The Commission for the Defense and Promotion of Competition (CDPC) on implementation of the Law for the Defense and Promotion of Competition in its Article 11 defines among other things, "Economic Concentration as making or changing control one or more firms through shareholding, management control, merger, acquisition of property or any right to shares or equity or debt securities to cause any kind of influence on corporate decisions or any act under which shares or groups are held.

More on this topic

Cementos Argos Acquires 53% of Lafarge in Honduras

September 2013

For a total of $305 million, the company from Colombia has acquired more than half of the assets of the French multinational Lafarge in Honduras.

"We have acquired facilities which have extraordinary efficiency and quality in the target region, but also under economic conditions which are attractive and have high growth potential," said Jorge Mario Velasquez, president of Argos.

Honduras: Anticompetitive Practices in Cement Industry

July 2011

The cement companies Cenosa and y Lafarge-Inhcesa have again increased product prices in a unified manner, defying the rules of the Commission in Defense of Competition (CDPC in Spanish).

Both companies have been making simultaneous increases in the price of concrete for several years, provoking an investigation by the CDPC.

Lafarge Cement Company Closes Honduras Plant

August 2009

Honduran-French consortium Lafarge Incehsa suspended operations in its Cesur ("Cemento del Sur") plant.

The closure is due to problems with the supply of clinker, done by a Salvadoran provider, informed sources close to the company.

Journalist Luis Rodríguez wrote in newspaper El Heraldo: "...

Argos purchases Holcim's Caribbean and Panamanian Operations

July 2009

The $157 million transaction will place the Colombian cement producer in a prevailing position in the Central American market.

Swiss cement maker Holcim, the world's second largest, made this announcement: "As a consequence of the nationalisation of Holcim Venezuela, the long-term economics of supplying Holcim-produced clinker and cement to the grinding stations and terminals in Panama and the Caribbean is no longer viable".

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