Cement News tagged under: Caribbean

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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 ...

Argos reports a 26% EBITDA growth in 1H23

10 August 2023, Published under Cement News

Argos (Group Argos) had a solid operating period in the 1H23 recording an EBITDA of US$278m, an increase of 26 per cent and a sales rise of eight per cent or US$1.5bn. During the accounting period, Argos shipped 7.9Mt of cement, a contraction of 2.7 per cent when compared with the 1H22 and 3.5Mm 3 of concrete, down 6.5 per cent on the 1H23. This was caused mainly by the higher number of rainy days in the USA, the slowdown in house building in Colombia and by the difficult social and po...

Argos reports record 1Q23 operating EBITDA

10 May 2023, Published under Cement News

Argos recorded an operating EBITDA of US$127m in the 1Q23,   the highest achieved in a first quarter in its history and 41.3 per cent higher than in the 1Q22. Regarding consolidated revenues, it earned US$721m, representing a growth of 11.9 per cent compared to the previous year. Net profit closed at US$25m, while the leverage index stood at a level of 3.1 times, with a slight increase compared to December, mainly caused by the accelerated revaluation of the Colombian peso at the end of Ma...

TCL raises cement price

20 March 2023, Published under Cement News

Trinidad Cement Ltd (TCL), part of CEMEX, will increase its cement prices by 20 March 2023. TCL TTD43.65 (US$6.44)/42.5kg bag and by eight per cent for Premium Plus to TTD47.83/bag. “Cement prices are in fact set to be marginally adjusted, taking into consideration some of the rising cost factors with which TCL is faced,” said the company. While cement is locally produced and had not been affected by the same price volatility as lumber and steel, the cost of local inputs, which account f...

Caribbean Cement Co explains cement shortage

08 March 2023, Published under Cement News

Caribbean Cement Co is apologising cement shortages in Jamaica. Hardware stores in Mandeville and Christiana in Manchester and Santa Cruz in St Elizabeth had no or limited cement available. However, the shortage is only expected to last a week. "We have begun to restart the kiln after a 40-day shutdown and we will begin to stabilise supply very soon. We are apologising to our customers for any issues that they may have been experiencing," said Chad Bryan, communication and social imp...

FLSmidth achieves waste heat bypass record at Cement Panam

01 March 2023, Published under Cement News

Cement Panam ’s greenfield cement plant in the Dominican Republic set a new record for FLSmidth for the 300m distance covered for a waste heat bypass system from the clinker cooler to the finish mill.  FLSmidth used modelling to engineer a suitable system for such a long waste heat recovery system. “We had to main concerns: heat loss and velocity,” explains Srdan Nisic, FLSmidth’s sales manager - Projects & Retrofits.  “We used CFD modelling and other simulation tools to work out the ...

CEMEX Dominicana and Nestlé® Dominicana sign sustainability agreement

07 December 2022, Published under Cement News

CEMEX Dominicana and Nestlé ® Dominicana have signed a sustainability agreement where both companies reaffirm their commitment to lead their respective industries in climate action. The alliance will reduce the use of conventional fossil fuels by co-processing, under high environmental, health, and safety standards at CEMEX facilities, non-recyclable solid waste with a high calorific level from Nestlé ® industrial processes. "This agreement with Nestlé ® allows us to continue promoti...