Cement News tagged under: Caribbean Cement Company
Caribbean Cement build new Rockfort administration building17 July 2018, Published under Cement NewsCaribbean Cement held a groundbreaking ceremony for the construction of Caribbean Cement's new administration building at Rockfort last Friday. The previous building at the Rockfort cement plant was destroyed by a fire in January 2017. Minister of Industry, Commerce, Agriculture and Fisheries, Audley Shaw, attended the groundbreaking ceremony and told guests, "I really am pleased to hear that the company is not just investing in equipment, and we are seeing that you are only importing eq... |
Caribbean Cement considers exiting lease agreement26 March 2018, Published under Cement NewsCaribbean Cement could reduce its costs by approximately a third, US$10m, annually if it exits a lease agreement with its parent company, Trinidad Cement Company (TCL), according to The Gleaner. The company is projected to spend about US$25m on the 2017 operating lease for its Rockfort facility in Kingston. The plans would involve terminating that annual payment and buying back the plant, which is valued at US$118m. Caribbean Cement will make an announcement on the outcome within 90 days.... |
Caribbean Cement seeks quarry extension approvals14 March 2018, Published under Cement NewsCaribbean Cement Company Ltd (CCCL) plans to extend the Halberstadt Gypsum Quarry from 2ha to 6.7ha and establish a limestone quarry at Harbour Head spanning 50 acres. The Jamaican quarries are roughly 8.5km apart and are operated through subsidiary Jamaica Gypsum & Quarries Ltd, but will need approval from the National Environment & Planning Agency (NEPA). "Supplies at the gypsum quarry in Halberstadt and the limestone quarry in Harbour Head are at a critical level and as such additional... |
Caribbean Cement to restart exports21 February 2018, Published under Cement NewsCaribbean Cement expects to restart cement exports following the completion of its US$50m modernisation programme. The programme also includes the commissioning of a new coal mill scheduled for the second quarter of this year, upgrades to both cement mills, a new packing line, and the upgrade and replacement of conveyor belts and dust collectors to boost production to 1.2Mta. Peter Donkersloot, Caribbean Cement's general manager, said: "It must be noted that every step has been taken to e... |
Caribbean Cement plans 2-year maintenance programme16 February 2018, Published under Cement NewsFollowing a challenging 2017, Jamaican cement producer Caribbean Cement expects to roll out a two-year maintenance programme that includes a programme of reinvestment in the Rockfort plant near Kingston. "After defining 2017 as a year of transition, the board of directors is now focused on consolidation of ongoing initiatives in health and safety, and roll-out of a two-year maintenance plan to ensure improved production performance and cement output," said the statement signed by Chairman ... |
Caribbean Cement limits its risk of rising fuel consumption01 November 2017, Published under Cement NewsCaribbean Cement Company Ltd is now hedging its fuel bill to stabilise its costs. The company started to invest in hedges in the second quarter, amid rising sales and profit at the Rockfort-based operation and has spent US$70.76m on the hedges so far this year. Caribbean Cement entered into forward contracts through its ultimate parent company, Cemex of Mexico, to hedge the price of estimated fuel consumption. The cement producer's fuel and electricity bill remains its main production c... |
Caribbean Cement consolidated profit hits JMD2bn31 October 2017, Published under Cement NewsCaribbean Cement group reported YtD consolidated profit before tax of JMD2.01bn (US$15.86m) over nine months compared to JMD1.26bn last year, reports Loop Jamaica. The two-thirds jump was attributed to a JMD437m write-down of overstocked items identified in 2016 and JMD407m incurred during the implementation of restructuring programmes last year. In the reporting quarter, the group announced a profit before tax of JMD847m compared to a loss before tax of JMD27m in the correspondi... |
Caribbean Cement doubles quarterly profits28 July 2017, Published under Cement NewsThe Caribbean Cement Company (CCC) more than doubled its quarterly profits during the April-June quarter 2017, reports the Gleaner. Net profit grew to US$606m after tax, over three months, or 174 per cent higher than the similar period a year earlier. "This was achieved through cost-saving initiatives which were implemented, resulting in lower fixed and administrative costs," stated management in the financial report signed by Chairman, Parris Lyew-Ayee, and Director Jose Luis Seijo Gonzal... |
Caribbean Cement still has no second director elected to the board24 July 2017, Published under Cement NewsSunday Finance had reported last week that Colin Steele, a public certified accountant, would assume the position for a second Jamaican domiciled member of the board of directors of the Caribbean Cement Company Ltd (CCCL). However, the position has not been taken up, reports the Jamaican Observer. Colin Steele was lined up to be the second board member after an attempt to remove the obligation to elect a second Jamaican director was blocked by shareholders at the company's AGM. Steele... |
Caribbean Cement Co to refinance operating lease14 July 2017, Published under Cement NewsCaribbean Cement Co plans to refinance the operating lease for its Rockfort plant in Kingston, the Jamaica Gleaner reports. The company is to set up a dedicated advisory board to address its operating lease, payable to immediate parent company Trinidad Cement Ltd. "The structure of the lease is not the most efficient and might have made sense five years ago when Caribbean Cement had no possibility to finance its assets," said Caribbean Cement General Manager, Peter Donkersloot Ponce, at... |