Cement News tagged under: Caribbean

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Jamaica’s cement shortage ends

30 September 2024, Published under Cement News

Jamaica’s cement shortage has ended. According to the minister for Investment and Commerce in Jamaica, Senator Aubyn Hill, the Caribbean Cement Co Ltd (CCCL) has assured him that adequate supplies of cement are now available to consumers. In a ministerial statement to members of the Upper House, Hill said the company told him on that enough cement was on the market for players in the construction industry. Earlier this month, CCCL confirmed that it could not meet the demand in the local...

Argos provide cement for Disney pier construction

15 August 2024, Published under Cement News

Argos has played a crucial role in constructing Disney's new civil works at Lighthouse Point on Eleuthera Island, Bahamas. With an approximate investment of US$250m, this project is part of Disney Cruise Line's expansion plans and is expected to welcome more than 1m visitors annually. Argos provided approximately 10,000t of cement for the construction of the over 700m-long pier, accounting for 85 per cent of the total cement required. This cement was shipped through exports from its Pu...

Cemex exits Dominican Republic market

06 August 2024, Published under Cement News

Cemex has signed a US$950m agreement for the sale of its operations in the Dominican Republic. The transaction includes an export businesses to Haiti. The agreement has been signed between a Spanish subsidiary of Cemex, as seller, and Cementos Progreso Holdings, SL, through a subsidiary, and its strategic partners, as buyers. The divested assets mainly consist of one cement plant ( 2.4Mta San Pedro de Macorís plant) in the Dominican Republic consisting of two integrated production li...

Trinidad Cement changes two executive managers

08 July 2024, Published under Cement News

Trinidad Cement Ltd has announced two changes to its executive management team. The Cemex subsidiary's General Manager, Guillermo Rojo de Diego, will be replaced by Cemex Commercial VP, Gonzalo Rueda Castillo. Roberto Adrian Villarreal Villarreal will take over from Gustavo Alejandro Ruiz Silva as group strategic planning manager. Mr Rojo was appointed general manager in 2019 and will help Mr Rueda transition into the role. Mr Castillo, who has over 25 years' experience in the company, w...

Trinidad Cement post-tax profit soars in 2023

08 April 2024, Published under Cement News

Trinidad Cement Ltd (TCL) saw revenue increase by 8.2 per cent YoY to TTD2.229bn (US$328.8m) from TTD2.061bn in 2022. EBITDA slipped by one per cent YoY to TTD514m, of which 85 per cent was attributed to the Jamaican operations, according to David Inglefield, the company's chairman. “Guyana also continues to improve its profitability with an increase in EBITDA of over 53 per cent compared to last year due to higher sales volumes and stronger pricing," he said. In terms of the Trinidad ...

Caribbean Cement's expansion underway

27 March 2024, Published under Cement News

Phase one of Caribbean Cement Co Ltd ’s (CCCL’s) expansion project is well underway in Jamaica. It is anticipated that when the  Rockfort plant 's expansion is completed, Caribbean Cement’s existing cement-production capacity will increase by approximately 300,000t. Phase One of CCCL’s expansion project, which will deliver an increase of up to 30 per cent in cement production, is progressing towards full completion next year. The company’s newly-appointed Managing Director, Jorge Martine...

Argos records EBITDA of COP742bn in the 3Q23

10 November 2023, Published under Cement News

Argos reported that for the 3Q23 adjusted EBITDA stood at COP742bn (US$180.35m), increasing 25.4 per cent on a comparable basis versus 3Q22. The company's revenue in the 3Q23 slipped one per cent YoY to COP3087bn from COP3118bn in the year-ago period. The results were driven by strong pricing dynamics across all regions, combined with cost efficiencies. The adjusted EBITDA margin stood at 24 per cent for the quarter up from 19 per cent YoY. Cement dispatches reached 3.98Mt, with a contrac...

Caribbean Cement sees 58% rise in 3Q net income

01 November 2023, Published under Cement News

Jamaica’s Caribbean Cement Co , part of the TCL Group , reported revenues of JMD7bn (US$45.4m) in the third quarter of 2023, up 13.4 per cent YoY from JMD6.2bn. Operating earnings rose by 36.8 per cent to JMD2.6bn in the 3Q23 from JMD1.9bn as revenue increased and costs were contained due to a drive in operational efficiency. The company’s consolidated net income increased by 58.3 per cent from JMD1.2bn in the 3Q22 to JMD1.9bn in the 3Q23.

Domicem commissions new kiln, doubles capacity 

25 October 2023, Published under Cement News

Domicem , a subsidiary of Colacem SpA (Italy), commissioned a new kiln line at Sabana Grande de Palenque , San Cristóbal province, in the Dominican Republic, on 13 October 2023.  The US$120m expansion consisted of a 3500tpd kiln line and doubles cement capacity at the existing plant to 3.8Mta. The project, which was first announced in March 2021, was executed by by Sinoma CBMI Construction (China).  Domicem first entered the Dominican Republic in 2005 with the launch of its first...

Argos MD forecasts further investments in the USA and Caribbean

05 September 2023, Published under Cement News

Juan Esteban Calle, MD of Argos SA has revealed that the company is looking to invest in the USA and nearby markets to increase imports. “In the United States, we are making a significant investment in a port in Houston, which will help increase imports,” said Mr Calle. “We are also making other relevant investments in two plants that will allow us to increase our capacity in West Virginia and South Carolina, with an additional 450,000t for the domestic market. “Furthermore, we have ...