BUSINESS · COLOMBIA
Key Facts
- —The country Colombia, where Swiss building materials group Holcim is buying most of the local cement business of Mexico’s Cemex.
- —Why it matters The deal would reshape Colombia’s cement market and turn Holcim into a much larger player in one of Latin America’s biggest construction markets.
- —Why now Holcim named Spanish engineer Carlos Casado executive president of Holcim Colombia, made public on Wednesday 14 October while the Cemex purchase awaits closing.
- —What happened Cemex agreed on Wednesday 11 March to sell its Caracolito cement plant, Santa Rosa grinding mill and concrete plants to Holcim for US$484.5 million.
- —The numbers US$484.5 million price before closing adjustments, about US$30 million in yearly synergies expected by year three, and more than 20 concrete, aggregates, mortar and admixture plants in the package.
- —What it means for you Holders of Cemex’s New York-listed shares should watch for the closing, since the proceeds and the remaining Colombian assets will shape the group’s balance sheet.
- —Still open Regulatory approval, the final price after adjustments and the future of the Cemex assets left out of the sale.
- —Power Index Colombia ranks 6th of 14 in The Rio Times Latin America Power Index, with 51.9 points (October 2026 edition).
Holcim Colombia has a new executive president, Spanish industrial engineer Carlos Casado, as the group moves ahead with its US$485 million purchase of Cemex assets. Bogotá business daily Portafolio reported the appointment, announced by the Swiss parent, on Wednesday 14 October.
The deal matters beyond Colombia because Cemex, the Mexican cement maker, has shares traded in New York and is selling most of its Colombian business. For Holcim, the purchase would add a second cement plant and a large concrete network in Colombia.
Holcim Colombia Names a New Chief
Casado takes charge of the Colombian subsidiary of Holcim, a building materials group based in Zug, Switzerland. He studied industrial engineering at the Universitat Politècnica de València and later took leadership programmes at Insead and Inalde.
According to the company, his career spans more than 25 years in Europe, Asia and Latin America, mostly in cement. Within Holcim he has run industrial operations and business turnarounds in Western Europe, Asia and Latin America.
“Our commitment to Colombia is total,” Casado said in his first statement, translated from Spanish. He added that he wants to build “the leading platform of products and solutions for construction” in the country.
Holcim tied the appointment to its global strategy, called NextGen Growth, which focuses on innovation, quality and cutting carbon in construction. The company did not say when Casado formally took office or whom he replaces.
What Holcim Is Buying From Cemex
Cemex disclosed the agreement in a filing with the US Securities and Exchange Commission. Its subsidiaries signed a stock purchase agreement with Holcim on Wednesday 11 March 2026.
The price is US$484.5 million, subject to closing adjustments, and Cemex itself guarantees some of the sellers’ obligations. The companies being sold hold the Caracolito cement plant, the Santa Rosa grinding mill and a portfolio of concrete, aggregates, mortar and admixture plants.
Colombian financial outlet Valora Analitik reported that the package includes more than 20 ready-mix concrete, aggregates, mortar and admixture plants. It also cited a price of about five times expected 2026 earnings before interest, tax, depreciation and amortisation, after synergies.
Holcim expects about US$30 million in yearly synergies by the third year, according to the same report. It also expects the deal to lift earnings per share in the first year after closing.
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How the Deal Changes Colombia’s Cement Market
Holcim already runs one cement plant in Colombia, at Nobsa in Boyacá, plus eight ready-mix concrete plants. It also has an aggregates plant, a construction chemicals plant and Geocycle, a waste pretreatment business.
Its own Disensa network of hardware stores gives it a retail channel that Cemex’s plants can now feed. Valora Analitik counted more than 150 Disensa stores when the deal was announced in March.
Adding Caracolito would give Holcim a second integrated cement plant and much wider concrete coverage across Colombia. In a filing with competition regulator SIC, the companies said the combination would hold more than 20% of grey cement and ready-mix concrete, Bogotá daily La República reported in April.
For readers new to the company, our profile Cemex S.A.B. de C.V. sets out its markets and listings. Our guide Cemex Explained, Mexico’s Cement Giant in 2026 explains how the group grew from Monterrey into a global supplier.
What It Means for You
Cemex trades in New York through American depositary shares, so US investors are directly exposed to how the Colombian sale ends. The cash would arrive at closing, but the filing does not say how Cemex will use it.
Cemex also says it is still defining an operating model for the Colombian assets left out of the sale. As of Tuesday 31 March, it presented the Colombian operations as held for sale in its accounts.
For Holcim shareholders in Europe, the deal is small next to a group with more than 45,000 employees in 43 markets. Still, it deepens the group’s bet on Latin America, where it also operates in Mexico, Peru, Ecuador and Argentina.
For anyone doing business in Colombia, a larger Holcim could change prices and supply for cement and concrete. Builders will watch whether the combined company keeps both brands and both distribution networks running.
Readers following Colombia’s economy can find wider context in Colombia Explained and Colombia’s key political players. Our Bogotá city guide covers the capital, home of the business daily that reported the appointment.
What Is Not Known
The SIC has been reviewing the deal since at least April, and neither company has published a date for its decision. Cemex said in its filing that it expects the deal to close at the end of 2026.
The final price after adjustments is also unknown, as is the fate of the Cemex plants that are not part of the sale. Holcim has not said whether Casado’s appointment changes the integration plan or the expected synergies.
Frequently Asked Questions
Who is the new head of Holcim Colombia?
Carlos Casado, a Spanish industrial engineer with more than 25 years in the cement industry, is the new executive president. His appointment was made public on Wednesday 14 October.
What is Holcim buying from Cemex in Colombia?
Holcim is buying companies that hold the Caracolito cement plant, the Santa Rosa grinding mill and a portfolio of concrete, aggregates, mortar and admixture plants. The price is US$484.5 million before closing adjustments.
When will the Cemex Colombia sale close?
Cemex expects the deal to close at the end of 2026. Closing depends on customary conditions, including regulatory approvals.
Why does the deal matter to US investors?
Cemex shares trade in New York as American depositary shares, so the sale affects US holders directly. The filing does not say how Cemex will use the proceeds.
Is Cemex leaving Colombia completely?
Not yet confirmed, because some Colombian assets are not part of the sale. Cemex says it is still defining an operating model for those operations.
Sources: Cemex, filing with the US Securities and Exchange Commission; Portafolio, Holcim names new Colombia president; La República, Regulator reviews Holcim and Cemex Colombia deal; Valora Analitik, Cemex sells most of its Colombian operation to Holcim.
Editorial responsibility: Matthias Camenzind, Editor-in-Chief · Editorial standards · Report an error