GENERAL

Letter from our Chairman

Letter from our Chairman

Dear Stakeholders:

2016 was a period of important changes for Cementos Argos, one of the strategic businesses of Grupo Empresarial Argos. The successful change of its leadership, the reinforcement and consolidation of its diversification strategy, the realization of several projects and its unique human talent, all enabled the company to obtain positive results and remain one of the leading cement companies in the American continent, in the midst of a challenging and changing environment.

The recent acquisition of the cement plant in Martinsburg, West Virginia, along with eight terminals, is proof of this. These assets have an enormous potential to generate value and have allowed Cementos Argos to broaden its operation from nine to thirteen states and to increase its installed capacity in the United States by 29%.

The company’s progress and competitiveness are a result of the strategic coherence of Grupo Argos, in which the long-term value generation for its shareholders is leveraged on its integrity and transparency as axes and inspiring principles of its management.

Furthermore, a strong commitment towards innovation and sustainability as elements for development has enabled Cementos Argos to reach important achievements, such as being recognized as the most sustainable cement company around the world according to the Dow Jones Sustainability Index. This event transcends all results and ratifies the organization’s efforts to have increasingly responsible operations, which guarantees the company’s sustainability over time.

We foresee a positive 2017, even though the worldwide economy is expected to be challenging and will demand a continuous search for profitable growth in the long-term. We are convinced that Cementos Argos has a solid basis to continue pursuing its growth and that through the responsible application of the BEST (Building Efficiency and Sustainability for Tomorrow) Program we will accelerate it. Additionally, we believe that the company has the capacity to continue capturing the unlimited possibilities that appear in the different markets of the various countries and territories in which it is present. Argos is more than just cement and ready-mix; it is a company that reaffirms its purpose of transforming lives and always finding new and better ways to generate value for all its stakeholders.

We work to build the sustainable future that we dream of. We reafirm our company’s commitment to respect and promote human rights, the principles of the Global Compact and the International Labour Organization. We want to thank all our employees, our management and especially you, our shareholders, for your confidence and support.

Jorge Mario Velásquez
Chairman