The Bank of New York Mellon Appointed as Depositary Bank by Cementos Argos S.A.
October 22 2008 - 10:36AM
PR Newswire (US)
NEW YORK, Oct. 22 /PRNewswire-FirstCall/ -- The Bank of New York
Mellon (NYSE:BK), the global leader in asset management and
securities servicing, has been selected by Cementos Argos S.A. as
the depositary bank for its American depositary receipt (ADR)
program. Each Cementos Argos ADR represents one common share. The
ADRs trade on the over-the-counter market under the symbol "CMTOY."
The common shares trade in the Bolsa Colombiana de Valores under
the symbol "CEMARGOS." Cementos Argos is a leader in the Colombian
cement industry. With 51% of market participation and operations in
Panama, Haiti and the Dominican Republic, it is the fourth largest
cement producer in Latin America. It is the sixth largest concrete
producer in the United States and exports cement and clinker to 27
countries. "We are delighted that The Bank of New York Mellon is
our ADR program partner," said Ricardo Sierra, chief financial
officer of Cementos Argos. "We believe this program presents an
opportunity for global growth and we are confident that the bank
has the knowledge and resources necessary to help us achieve our
goals." "We welcome Cementos Argos as a depositary receipt client,"
said Michael Cole-Fontayn, chief executive officer of The Bank of
New York Mellon's Depositary Receipt Division. "Our extensive
experience and customized promotional initiatives will help the
company gain market visibility and reach new investors." The Bank
of New York Mellon acts as depositary for more than 1,300 sponsored
American and global depositary receipt programs, acting in
partnership with leading companies from 64 countries. With an
unrivaled commitment to helping securities issuers succeed in the
world's rapidly evolving financial markets, the Company delivers
the industry's most comprehensive suite of integrated depositary
receipt, corporate trust and stock transfer services. Additional
information is available at http://www.bnymellon.com/dr. The Bank
of New York Mellon Corporation is a global financial services
company focused on helping clients manage and service their
financial assets, operating in 34 countries and serving more than
100 markets. The company is a leading provider of financial
services for institutions, corporations and high-net-worth
individuals, providing superior asset management and wealth
management, asset servicing, issuer services, clearing services and
treasury services through a worldwide client-focused team. It has
$22.4 trillion in assets under custody and administration,
approximately $1.1 trillion in assets under management and services
approximately $12 trillion in outstanding debt. Additional
information is available at http://www.bnymellon.com/. This release
is for informational purposes only. The Bank of New York Mellon
provides no advice nor recommendation or endorsement with respect
to any company or securities. Nothing herein shall be deemed to
constitute an offer to sell or a solicitation of an offer to buy
securities. Depositary Receipts: Not FDIC, State or Federal Agency
Insured; May Lose Value; No Bank, State or Federal Agency
Guarantee. DATASOURCE: The Bank of New York Mellon Corporation
CONTACT: Dori Flanagan, +1-212-815-2291, , or Joe Ailinger,
+1-617-722-7571, Web Site: http://www.bnymellon.com/
http://www.bnymellon.com/dr
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