Cement News tagged under: Caribbean
Antigua cement prices set to rise23 January 2013, Published under Cement NewsCaricement Antigua Ltd is considering a slight price increase on the back of rising production costs, in a move that follows two other hikes announced in the Caribbean this year. Antonio Garrido who heads the company’s Crabbs operations, told local press: “We are talking about between 50 to 75 cents per bag. He said the increase would be merely “symbolic” taking into account the increased cost at the production level. “The cost of cement has gone up for us by US $15 to $20 per metric ton... |
Government to lobby Caricom for reduction in import duties16 January 2013, Published under Cement NewsThe government of Trinidad and Tobago says it plans to lobby the Caribbean Community (CARICOM) grouping for a reduction in import duties following Trinidad Cement Ltd’s (TCL) recently-announced 9.5 per cent price hike. Trade Minister Vasant Bharath, has held talks with the company on whether the hike was based on increased costs of inputs, or due to inefficiencies. In news reports by local media, Bharat said that TCL’s costs include an annual energy cost of US$12m for natural gas, a debt o... |
Trinidad: CCJ dismisses TCL claim15 November 2012, Published under Cement NewsThe Caribbean Court of Justice (CCJ) has dismissed a claim by Trinidad Cement Limited (TCL) against the Caricom Competition Commission accusing them of acting wrongly and giving them 21 days to pay court costs. TCL claimed that the Commission acted wrongly in two main regards: specifically, they said the Commission had not requested its approval to conduct an investigation into TCL's business activities and that the Commission had failed to respect the rights of TCL as an 'interested party'... |
TCL doubles losses, Trinidad09 August 2012, Published under Cement NewsTrinidad Cement Ltd (TCL) has doubled its posted a post-tax loss for the first six months of 2012 compared to the same period of last year. TCL’s loss in the period from January 1 to June 30 amounted to TTD169m, compared with the TTD78.2m loss the company reported for the first six months of 2011. For the first six months of 2012, TCL’s group revenue totalled TTD789m, which was 3.7 per cent more than the revenues reported in 2011, mainly “due to higher pricing as domestic and export... |
Dominican Republic exports increase07 August 2012, Published under Cement NewsThe Dominican Association of Portland Cement Manufacturers (Adocem) said today that so far this year, cement exports to other markets increased by 34.2 per cent over the same period last year. Adocem data shows that from January to June, industry sales abroad were 703,000t while last year they rose to 524,000t. According to the report, the Dominican cement industry annually exports about 35 per cent of its production, which accounts for about US$120m of foreign currency entering the co... |
Grupo Argos merges port assets05 July 2012, Published under Cement NewsGrupo Argos has been authorised by its Board of Directors to merge its port assets with Muelles El Bosque Operador Portuario (MEBOP) and Terminal Marítima Muelles El Bosque. The company resulting from the merger will be 50% owned by Grupo Argos and the remaining 50% by the current shareholders of Muelles El Bosque, the Echavarría Obregón family and the Spanish group Ership (property of the Alvargonzález family from Asturias), with whom Grupo Argos has held a relationship of several years a... |
Caribbean Cement Company price hiked 9.2%01 June 2012, Published under Cement NewsCaribbean Cement Company Limited has increased the price of bagged cement by 9.2 per cent, according to reports in the Jamaican Gleaner. Effective today, June 1, the ex-factory price of Carib Cement Plus will be increased from J$705 to J$761.91. The new price is inclusive of the new 16.5 per cent GCT rate. In a statement to the Jamaica Stock Exchange yesterday, Caribbean Cement advised shareholders that the rebound in sales seen towards the end of last year has not been maintained and the ... |
TCL and Union impasse expected to head to court, Trinidad28 May 2012, Published under Cement NewsThe industrial relations dispute between Trinidad Cement Ltd (TCL) and the Oilfields Workers’ Trade Union (OWTU) is expected to go to the Industrial Court for a resolution. T he 90-day strike notices served on TCL and subsidiary Trinidad Packaging on 27 February has now expired. Speaking to the Trinidad Express, OWTU branch president Lawrence Renaud said both parties would have seven days to refer the matter to the court. "When the matter goes to the Industrial Court all industrial actio... |
Concerns over price hikes, Trinidad & Tobago11 May 2012, Published under Cement NewsThe Trinidad and Tobago Manufacturers' Association has expressed concern of a 19-21 per cent rise in prices. The situation is affecting the TTMA's members and severely hampering the construction industry, Trinidad Express Newspapers reported a spokesperson saying. In a May 2 circular to contractors, TCL announced price increases between 19 and almost 21 per cent on all types of cement, according to local industry players. "The TTMA is aware that the ongoing industrial action at Trin... |
Cementos Argos net profit rises26 April 2012, Published under Cement NewsCementos Argos, Colombia's largest cement producer, posted a net profit in 1Q12 of US$144m, from US$16m a year earlier. Operating revenue was US$587m, the company said in a statement Wednesday to regulators while EBITDA rose 40% last quarter from the same period a year earlier, to $110m. For the first quarter of 2012, revenues from the Division rose to COP$ 569bn, an increase of 34%. EBITDA was COP$189bn, an increase of 47% from March 2011 and a record high for the company. The EBITDA margi... |