Cement News tagged under: Caribbbean

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Caribbean Cement Co exports clinker to Haiti for the first time

03 September 2019, Published under Cement News

Jamaica’s Caribbean Cement Co has exported clinker to Haiti for the first time, according to the Jamaica Observer. The 7500t shipment became possible due to excess production at the company’s plant in Kingston. The operations of the plant have been upgraded over the past four years with an investment of JMD4bn (US$162m) in capital expenditure and JMD500m in training, health and safety, and improving the plant's environment. The company has already exported 14,300t of clinker to Trinidad ...

Cementos Argos 1H results impacted by challenging Colombian market

17 August 2018, Published under Cement News

Cementos Argos released its 2Q18 results this week with revenues up by 1.4 per cent at COP2.184trn (US$726bn) from COP2.154trn in 2Q17. The 1H18 revenue amounted to COP4.092trn, down from COP4.231trn in 1H17, a fall of 3.3 per cent. EBITDA and net income were affected by the US$24m fine imposed by the Superintendence and Commerce in Colombia. 2Q18 EBITDA amounted to COP328bn, down 11.2 per cent on the COP370bn of 2Q17. Adjusted EBITDA, excluding the fine reached COP404bn in 2Q18, was up 5.9 ...

Caribbean Cement pays first instalment of asset buyback

02 May 2018, Published under Cement News

Jamaica’s Caribbean Cement Co Ltd (Carib Cement) has paid the first instalment of JMD1.3bn (US$10.50m) on an asset buyback agreement with its parent company, Trinidad Cement Ltd (TCL). The agreement means that Carib Cement has 90 days to pay US$118m to TCL, to reclaim ownership of Kiln 5 and Mill 5 at its facility in Rockfort, Kingston, according to The Jamaica Gleaner. "The initial payment of JMD1.3bn towards the acquisition represents a significant investment in plant and equipment, imp...

Trinidad Cement revenues down 12%

04 May 2017, Published under Cement News

Trinidad Cement Ltd (TCL) said its revenue for the first three months of the year was down by 12 per cent YoY to TTD422m (US$62.5m) due to a construction slowdown in one of its major markets and tougher regional competition. Group volumes in 1Q17 were down six per cent YoY which the company said reflected a slowdown in Trinidad and Tobago construction activity, compounded by increased competition in the Caribbean region. However, TCL noted that positive trends continued in the Jamaican m...

Caribbean: Rock Hard Cement starts exporting

13 January 2017, Published under Cement News

Rock Hard cement company has is about to enter markets outside of its homebase of Barbados. Eight months ago it was experiencing a difficult time exporting, but it can now compete in other Carribean markets. Chief Executive Chairman, Mark Maloney, said a ship off-loaded cement in Barbados last week, and would proceed to St Lucia before heading to St Vincent and the Grenadines and Guyana. In addition, Rock Hard cement could soon be available in another three countries. "Rock Hard Cement ...

Caribbean: Cemex launch takeover bid for TCL

05 December 2016, Published under Cement News

Cemex SAB de CV today announced that one of its indirect subsidiaries, Sierra Trading will present an offer and takeover bid for all shareholders of Trinidad Cement Ltd. "This Offer represents a clear sign of our commitment to TCL and the region. In addition, although we believe that our Offer is attractive given the premium to the current share price, as part of this commitment, it is also important to us that TCL remains a listed company, so that local investors can continue to benefi...

Changes to Arawak Cement Co's executive board, Barbados

11 January 2016, Published under Cement News

Rupert Greene has resigned from his position as general manager of Arawak Cement Co Ltd (ACCL), effective 31 December 2015. ACCL, a wholly-owned subsidiary of the Trinidad Cement Ltd (TCL), is the only cement producer on Barbados with a 0.36Mta capacity at Checker Hall, St Lucy. Manuel Toro has been assigned to assume the position of general manager of ACCL, as of 1 January 2016. Mr Greene will continue with the TCL Group as a consultant for the following six-month period.

Cemex Latin American Holdings burdened by weaker Colombian markets

23 October 2015, Published under Cement News

Cemex Latin American Holdings' turnover for the first nine months of the year declined by 16.8 per cent to US$1,102.1m and the EBITDA came down by 21.8 per cent to US$346.3m. The reduction at the trading level was 24.3 per cent to US$281.5m. After a net interest charge that was 22.5 per cent lower at US$58.3m, the pre-tax profit emerged 35.5 per cent lower at US192.4m. A 15.5 per cent lower tax charge and lower minorities led to a 43.9 per cent reduction in the net attributable profit to ...

TCL signs loan agreements with international banks

08 September 2015, Published under Cement News

Trinidad Cement Ltd (TCL) has made an announcement on its settlement of loan deals worth US$200m with international banking giants. TCL has signed the loan agreements, which will remain operational for a period of five years, with Credit Suisse and Citibank. During the recently held deal signing event at Citibank (Trinidad and Tobago), the chairman of TCL Wilfred Espinet has stated that the newly agreed deal represents a vital stage in the complete reorganisation process of the company,...

Caribbean Cement Co swings to first-half profit, Jamaica

23 July 2015, Published under Cement News

Caribbean Cement Co Ltd (CCCL) reported a consolidated profit of JMD869.3m (US$7.42m) for the first six months of 2015, compared to a loss of JMD53.2m in the corresponding period of 2014 – an improvement of JMD922m. The TCL group company said revenue during the first half of this year rose by four per cent (or JMD276m) over the period, mainly driven by improved domestic sales volumes and increased clinker exports which compensated for the decline in cement exports. EBITDA increased by JMD8...