Progreso

What Progreso does

Progreso, founded in 1899 in Guatemala by Carlos Federico Novella Kleé, is a privately held, family-controlled industrial group led by the Novella family and operating under the Cementos Progreso flagship brand. The company produces and distributes cement, ready-mix concrete (Mixto Listo), quicklime (Horcalsa), aggregates (Agreca), industrial paper bags (Sacos del Atlántico with 180 million bags/year capacity), and operates the first 3D construction printer (COBOD BOD-2) in Latin America with proprietary cementitious ink formulations developed by its Centro de Investigación y Desarrollo. It runs Parque Solar Helios (>50 GWh/year from 43,000 bifacial panels) under its Electronova/Enernova energy business, manages forestry and eco-tourism through AgroProgreso, and develops real estate via La Pedrera and Construfacil/ConstruRed retail franchises.

The company generates revenue through six streams: cement and construction materials sales to enterprise infrastructure clients, industrial lime to sugar mills, aquaculture, water treatment, and food manufacturers, retail through 14 ferretería stores and the MFA Rocafuerte wholesale center (7,000+ SKUs), paper bag sales, energy supply via Electronova, and AgroProgreso forestry/tourism operations. Distribution combines direct enterprise field sales for large projects, a wholesale distribution center for SMB contractors, and physical retail for end consumers. The company achieved a 96.7% Net Promoter Score and 92.1% Customer Satisfaction Index in 2024, with 18.2% of economic value generated outside Guatemala.

Progreso maintains operations in 8+ Latin American countries (Guatemala, Belize, El Salvador, Honduras, Nicaragua, Costa Rica, Panama, plus Colombia, Ecuador, Trinidad & Tobago, Dominican Republic, Haiti, and exports to Mexico/Caribbean/South America), supported by 8,000+ employees, 3,773 regional suppliers, and US$826.4 million in annual purchasing volume. It is certified across multiple international standards (ISO 17025 for its CETEC laboratory, FSSC 22000 for Horcalsa, CSC Responsible Sourcing for Mixto Listo, ISO 37001 anti-bribery across all subsidiaries) and has been recognized as one of the World's Most Ethical Companies by Ethisphere for 12 consecutive years.

Name

Progreso

Legal name

Progreso

Website

https://progreso.com

Company type

Private

Founded year

1899

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Progreso is a privately held, family-owned Guatemalan industrial group founded in 1899 that produces and distributes cement, ready-mix concrete, lime, aggregates, paper bags, and solar energy across 8+ Latin American countries, serving enterprise infrastructure clients, industrial lime consumers, and SMB retailers.

Ownership category

akta.pro rank

Product category

Construction Materials

NAICS

Cement Manufacturing (327310), Ready-Mix Concrete Manufacturing (32732), Other Concrete Product Manufacturing (327390), Lime and Gypsum Product Manufacturing (3274)

SIC

Cement, Hydraulic (3241), Concrete Products, Except Block & Brick (3272), Papers & Allied Products (2600), Adhesives & Sealants (2891)

akta.pro primary industry

Cement Manufacturing (Portland, Blended & Specialty) (IMADAAAG)

akta.pro secondary industries

Mortar, Grout & Masonry Cements (IMADABAL), Adhesives, Sealants, Caulks & Tapes Retail (CRAIADAL), Concrete, Cement & Aggregates Retail (Bagged Mix, Sand, Gravel) (CRAIAEAG)

Keywords

• Cement manufacturing
• Ready-mix concrete
• Construction materials
• Industrial lime production
• Building solutions

Headquarters

HQ city

Ciudad De Guatemala

HQ country

Guatemala

HQ region

Latin America

Offices6 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Cement and Construction Materials Sales: Production and sale of cement, concrete (Mixto Listo), lime (Horcalsa), and aggregates to construction companies, infrastructure projects, builders, and retail customers across Latin America.
2. AgroProgreso — Forestry, Agriculture, and Tourism: Forestry, agricultural, and eco-tourism operations through management of fincas including El Pilar and San Miguel Río Abajo, with a focus on sustainable community development.
3. Energy — Electronova: Custom electricity supply design and renewable energy generation (Parque Solar Helios) serving internal Progreso operations and external clients.
4. Real Estate — Inmobiliaria: Urban development poles and residential projects (La Pedrera) driving urban balance between public space, mobility, and quality of life.
5. Retail — Ferreterías and Central de Mayoreo: 14 ferretería stores selling construction materials, hardware, electrical, and finishing products. MFA Rocafuerte distributes 7,000+ hardware products to contractors and builders.
6. Industrial Supplies — Sacos del Atlántico: Multi-ply paper bags for cement, lime, construction, chemical, mining, and seed industries. Installed capacity of 180 million bags per year.

Go-to-market motion2 records

Distribution channels5 records

Marketing channels9 records

Core offering

Progreso manufactures and distributes cement, ready-mix concrete, lime, aggregates, and pre-dosed construction materials through its core subsidiary Cementos Progreso and affiliated units (Mixto Listo, Horcalsa, Agreca, Sacos del Atlántico). It sells these materials to construction companies, infrastructure developers, industrial clients (sugar mills, water treatment, aquaculture, food manufacturers), builders, masons, and individual homeowners across 8+ Latin American countries via direct enterprise sales, 14 ferreterías, and the MFA Rocafuerte wholesale center. The group also operates non-core diversified units in renewable energy (Electronova, Parque Solar Helios), forestry and eco-tourism (AgroProgreso), real estate (La Pedrera), and industrial packaging.

Differentiator

Problem solved

Functional benefit

Brands

• Cementos Progreso: Flagship brand and leading company in production and marketing of cement and construction materials with over 120 years of experience
• Mixto Listo
• Horcalsa
• AgroProgreso
• MFA Rocafuerte
• Sacos del Atlántico
• Electronova
• Progreso X
• CID (Centro de Investigación y Desarrollo)
• COVEC

Products and services

• Cement and Construction Materials (Cementos Progreso) Production and sale of cement under the Cementos Progreso brand for construction companies, infrastructure projects, builders, and retail customers across 8+ Latin American countries. Cementos Progreso is the flagship brand and leading cement producer in Central America.
• Ready-Mix Concrete (Mixto Listo) Ready-mix concrete and pre-dosed construction materials for construction projects. The first Guatemalan company to receive CSC Responsible Sourcing certification, achieved in five plants. Mixto Listo produces concrete and pre-dosed mortar mixes for enterprise and retail construction clients.
• Industrial Lime (Horcalsa) Specialized quicklime and hydrated lime products for industrial use including sugar mills, shrimp farms, water treatment facilities, and food manufacturers (nixtamalization). Horcalsa is the first lime producer in Central America to receive FSSC 22000 food safety certification from BSI.
• Aggregates (Agregados de Guatemala / Agreca) Aggregates manufacturing (sand, gravel, crushed stone) for construction and infrastructure projects in Guatemala. Operates as a wholly-owned subsidiary of Cementos Progreso.
• Industrial Paper Bags (Sacos del Atlántico) Multi-ply paper bags for cement, lime, construction, chemical, mining, and seed industries. Installed capacity of 180 million bags per year.
• Retail Hardware Stores (Construfácil / ConstruRed) Network of 14 ferretería stores selling construction materials, hardware, electrical, and finishing products directly to builders, masons, contractors, and individual homeowners.
• Central de Mayoreo (MFA Rocafuerte) Central wholesale hardware distribution center offering 7,000+ hardware products with specialized advisory services for contractors and bulk buyers.
• Custom Energy Supply (Electronova) Custom electricity supply design through consumption simulation models, serving Progreso's internal operations and external commercial and industrial clients. Includes energy from the Parque Solar Helios bifacial photovoltaic installation.
• Forestry, Agriculture, and Eco-Tourism (AgroProgreso) Management of fincas (El Pilar and San Miguel Río Abajo) providing forestry, agricultural, and eco-tourism operations with a focus on sustainable community development and biodiversity conservation (265 species of animals, 155 species of butterflies, 514 species of plants monitored since 2007).
• Real Estate Development (La Pedrera / Inmobiliaria) Urban development poles and residential projects (La Pedrera) designed to balance public space, mobility, and quality of life in the communities where Progreso operates.
• Laboratory Testing Services (CETEC / CID) ISO 17025:2017 accredited laboratory testing services for cement, concrete, aggregates, and related materials including X-ray fluorescence, X-ray diffraction, and concrete compression testing. Serves internal Progreso operations and external clients such as Jaguar Energy Guatemala LLC.
• Innovation and Venture Capital (Progreso X) Innovation and venture capital arm of Progreso, including the PX Ventures fund, driving transformation through construction technology investments and partnerships with startups and academic institutions.

Quantifiable outcome

• 96.7% Net Promoter Score (NPS) and 92.1% Customer Satisfaction Index (CSI) in 2024
• +7 more outcomes

Named customers8 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

14 partnerships are on record, tiered core and minor.

• HogaRES AlliancecoreStrategic or Co-development PartnerHogaRES is a flagship national public-private partnership to replace dirt floors in Guatemalan homes. With 14 strategic partners and an intersectoral alliance covering 24% of the country's municipalities, it has replaced 5,180 dirt floors benefiting 25,900 people. Progreso contributed 843 floors to the program.
• COBOD (3D construction printing)coreTechnology or IntegrationCOBOD (Bedminster, Denmark) supplies the BOD-2 3D construction printer used by Progreso's CID. Progreso was the first in Latin America to deploy COBOD technology and has developed proprietary Dry Mix Mortar formulations for 3D printing applications.
• SAP (RISE with SAP)coreTechnology or IntegrationProgreso partnered with SAP for digital transformation using RISE with SAP on AWS cloud. This enables migration of SAP ERP and HCM systems to cloud, facilitating regional expansion, cost optimization, and disaster recovery capabilities. Currently over 130 key users testing the new system.
• United Nations Global CompactcoreStrategic or Co-development PartnerProgreso is the first company in Guatemala to adhere to the 10 Principles of the UN Global Compact and is co-founder of the Guatemala Global Compact Network, having held the first two presidencies.
• OIT/ILO (International Labour Organization)coreStrategic or Co-development PartnerProgreso collaborated with the ILO to update the 'Manual of Good Practices in Construction.' Dr. Roberto Hermosilla represented Latin America and Progreso in the expert panel revising this global document.
• International Occupational Safety and Health Association (ICOH)minorStrategic or Co-development PartnerRoberto Hermosilla, Progreso's OH&S Manager, serves as ICOH Secretary for Guatemala for the 2022-2024 term. ICOH is a global professional society with 2,000 members across 105 countries.
• KPMG (Merco ranking verification)minorImplementation/ SI/ Consulting PartnerMerco's ranking methodology is verified by KPMG, providing independent audit of the corporate reputation rankings in which Progreso executives are ranked.
• Ethisphere InstitutecoreStrategic or Co-development PartnerEthisphere Institute evaluates Progreso annually using its Ethics Quotient® methodology (200+ criteria) for the World's Most Ethical Companies recognition. Progreso has held this distinction for 12 consecutive years.
• British Standards Institution (BSI)minorStrategic or Co-development PartnerBSI awarded Horcalsa the FSSC 22000 certification for food safety in hydrated lime production, the first in Central America to achieve this standard.
• Universidad Francisco MarroquínminorStrategic or Co-development PartnerCo-organizer of the Building Latam Fest 2025 at UFM campus, and partner in City Crafters urban furniture design competition involving 22 product design students.
• Human Rights Ombudsman (PDH Guatemala)minorStrategic or Co-development PartnerProgreso collaborates with the PDH on human rights training courses for Senior Management and Corporate Security Personnel, reinforcing the company's human rights culture.
• Concrete Sustainability Council (CSC)minorStrategic or Co-development PartnerMixto Listo received CSC Responsible Sourcing certification through the CSC's certification system for sustainable concrete production.
• Catholic Relief Services (CRS)minorStrategic or Co-development PartnerProgreso and CRS signed a partnership agreement as documented in the sustainability report videos section.
• Building Latam Fest Sponsors (Grupo AG, Unacem, Leonard, Banco Industrial, Innovarise)minorGTM or Marketing PartnerBLF 2025 was supported by sponsors including Grupo AG, Unacem, Leonard, Banco Industrial, Innovarise, and academic institutions (UTEC) and companies (Grupo Lamosa, BuildTech, Sika, ZacuaVentures, Hábitat para la Humanidad, Amanco Wavin).

Scale indicators18 records

Recent moves11 records

Expansion highlights5 records

Broad incumbents

• CRH plc: Global building materials group with cement, aggregates, and concrete products businesses including in Central America. Comparable as a diversified global incumbent competing for infrastructure and construction materials spend.
• Martin Marietta Materials: US-listed aggregates, cement, and ready-mixed concrete producer with a vertically integrated heavy-side model. Comparable as a publicly listed heavy materials operator with similar cement-to-aggregates integration.
• Votorantim Cimentos: Brazilian cement, mortar, and aggregates producer with Latin American and international operations. Comparable as a large regional incumbent with integrated cement-to-concrete model similar to Progreso's vertical structure.
• Holcim: Swiss-headquartered global cement and aggregates leader with established operations across Mexico, Central America, and the Caribbean. Comparable as a large diversified building materials incumbent seeking the same regional customers.
• Buzzi SpA: Italian-headquartered global cement, ready-mix, and aggregates producer with operations in Latin America. Comparable as a multinational cement incumbent pursuing integrated regional cement economics.
• Heidelberg Materials: Germany-based global cement, aggregates, and ready-mixed concrete producer. Comparable as a large multinational incumbent operating across cement-adjacent categories and competing in CEM-style markets.

Direct peers

• Cemex: Mexico-headquartered global cement, ready-mix, and aggregates major with deep Central American and Caribbean presence. Progreso directly acquired Cemex's Dominican Republic operations in 2024, confirming product, customer, and geographic overlap.
• UNACEM (Union Andina de Cementos): Peruvian integrated cement and concrete producer serving Andean and Latin American markets. Comparable as a regional cement-and-concrete operator with similar scale, vertical integration, and Latin American ambitions.
• Cementos Argos: Colombian cement and ready-mix major with operations across Central America and the Caribbean. Comparable as a vertically integrated LatAm cement producer competing for the same regional infrastructure and commercial customers.

Regional players

• Cementos Pacasmayo: Peruvian regional cement and construction materials producer serving a national market with a vertically integrated model. Comparable as a smaller, regionally focused LatAm cement operator with similar product breadth.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/progreso_latam
• YouTubeyoutube.com/user/cemprogreso
• Facebookfacebook.com/ProgresoLatam
• LinkedInlinkedin.com/company/cementos-progreso
• Instagraminstagram.com/progreso_latam
• TikToktiktok.com/@somosprogreso

Revenue estimate

Valuation estimate

Number of profiles

Profiles20 records

Subsidiaries16 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Progreso