Cement prices to come down, Jamaica

Cement prices to come down, Jamaica
Published: 23 February 2009

The Caribbean Cement Company (CCC) Limited has announced there will be reduction in the price of cement, effective Monday.

This price rationalisation, according to the cement company, will see prices reduced at all its distribution centres outside of Kingston.

The cement company said in a release that customers could also expect to see its products being sold for one price islandwide.

"The company has been able to hold its prices and offer this reduction to its customers, largely due to increased efficiencies," the release stated. "Carib Cement has increased efficiencies through the completion of its new state-of-the-art kiln or phase one of its US$170m expansion and modernisation programme."

This new kiln went into operation last year and is now at maximum production capacity, said the company. It further stated that phase two, which is the construction of the new cement mill, is under way and its completion is anticipated to bring more savings.

According to the company, since the last price adjustment in August 2008, the Jamaican dollar has devalued by 23 per cent and, as such, the company is continually monitoring and reviewing the impact of the global and domestic economic environment on its input cost.

"Carib Cement hopes that this proactive move by the company will stimulate the construction industry and boost employment," the release stated.