Cement News tagged under: Caribbbean
Changes to Arawak Cement Co's executive board, Barbados11 January 2016, Published under Cement NewsRupert 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 markets23 October 2015, Published under Cement NewsCemex 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 banks08 September 2015, Published under Cement NewsTrinidad 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, Jamaica23 July 2015, Published under Cement NewsCaribbean 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... |
Cemex Dominicana increases packing and palletising capacity14 July 2015, Published under Cement NewsCemex Dominicana recently announced a US$6m investment to increase the packing and palletizing capacity of its cement plant at San Pedro de Macoris (east). It said the investment in a new cement packing unit forms part of the company’s strategic plan in the Dominican Republic in response to local market requirements, Dominican Today reports. The new unit will boost Cemex's capacity by more than 1.5m additional bags monthly, or 800,000tpa. |
Cementos Argos’ net profit surges 59%26 February 2015, Published under Cement NewsColombia’s leading cement producer, Cementos Argos, said net profit jumped 58.8 per cent YoY in 2014, closing the year with record figures. Profit was up to COP291bn (US$145m), compared with the COP183bn registered in 2013. Operating income was up 16.8 per cent to COP5.8trn (US$2.9bn), EBITDA rose up 8.4 per cent to COP1.06trn (US$534m). Cement sales increased by eight per cent YoY to 12.5Mt, while concrete sales jumped 18 per cent to 11Mm 3 . Argos CEO, Jorge Mario Velásquez, commen... |
Dominican Republic sales up 18% YoY09 January 2015, Published under Cement NewsThe Dominican Republic market expanded by 18 per cent in 2014, surpassing the 16 per cent achieved the year before despite significant over capacity prevailing. Carlos E Gonzalez, president of Adocem, attributed the growth to a strong economy which maintained a seven per cent growth, and the momentum in both the public and private construction sectors. Mr Gonzalez added that the government’s school construction programme and the development of public and private housing projects have also ... |
Dominican Republic full-year sales seen rising 18% YoY16 December 2014, Published under Cement NewsCement sales in the Dominican Republic are forecast to see a double digit rise in 2014 to 3.6Mt, local association ADOCEM said on Friday. "Compared with the 3Mt consumed in 2013, this represents an increase of around 18 per cent this year," said ADOCEM president Carlos E Gonzalez told Dominican Today. He said the positive results reflect the sector’s response to the Dominican Government’s efforts, especially through the school construction program nationwide and other ongoing infrastru... |
S&P's downgrades Trinidad Cement Ltd06 October 2014, Published under Cement NewsStandard & Poor's Ratings Services lowered its corporate credit rating on Trinidad Cement Ltd Group (TCL) to 'D' from 'B'. The downgrade reflects TCL's missed debt service payments due 30 September 2014. Such maturities are not subject to a grace period and we do not expect payment within five business days, which Standard & Poor's considers an event of default as per its criteria. In addition, the downgrade reflects TCL's 29 September 2014, notice to stakeholders, in which the company... |
Dominican Republic sees 16% rise in cement demand06 December 2013, Published under Cement NewsThe Dominican Republic sold around 2.9Mta of cement in 2013, cement association Adocem has said. Compared with 2012 sales, this performance heralds a break with the declining trend witnessed since 2007. "In contrast with 2012 sales this represents a significant increase of about 16 per cent, ending the downward path that we have been experiencing since 2007," said Carlos Gonzalez , president of Adocem. In his view, the positive trend can be attributed to the efforts of the Dominican go... |