New company signs cement deal

New company signs cement deal
Published: 06 December 2007

The man who has declared his interest in taking over a cement plant at Dockyard announced that he had signed distribution agreements with cement companies in France and the Dominican Republic.

Clifton Lambert, who is in the process of forming a company Island Cement, identified the companies as Lafarge in France and Falex Trading in Dominican Republic.

Falex is the second largest independent trader in the Caribbean and has a distribution agreement with Lafarge.

Mr. Lambert said while Island Cement has not been contracted by Government to operate the cement plant at Dockyard, the company had informed Works and Engineering Minister Dennis Lister of its desire to operate the facility at Dockyard "should the opportunity arise."

Mr. Lambert also said Island Cement has invited the BIU to purchase a stakeholding interest and will invite building supply companies Bierman’s and SAL to participate.

He said cement for Bermuda would be supplied by Lafarge’s French Antilles Terminal.

A long-running standoff between the West End Corporation, a Government quango, and the Bermuda Cement Company, which operated the plan for more than 40 years, ended last week when Government it would ending the lease with BCC at the end of this year.

Government said it plans to buy the company and then put a new operator in place.

Now BCC and Government are wrangling over money, with BCC insisting that the value of the company is US$1m, higher than Government’s offer of US$250,000.