Cement News tagged under: Caribbean

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Dominican Republic exports US$72.3m of cement in 2018

05 June 2019, Published under Cement News

The Dominican Republic exported Portland cement to the value of US$72.3m in 2018, according to the country’s Director of General Direction of Mining, Alexander Medina Herasme. The country produces cement in four clinker and two grinding plants with a combined capacity of 7.15Mt. It is the Caribbean’s largest cement and clinker exporter, accounting for around two-thirds of the region’s cement exports.

Argos opens packaging plant in Dominica

31 May 2019, Published under Cement News

Argos, a cement company of Grupo Argos, has opened a new packing plant on the island of Dominica in the Caribbean to allow a more reliable and timely supply of cement. The plant's packer has three nozzles and a capacity of more than 1000 bags per hour. The scope of the project includes structural and ergonomic improvements and the replacement of the system's dust collector, which will allow for cleaner and more environmentally-friendly processes, says Argos. Argos has been present in the i...

Argos' consolidated revenues rise 14% in 1Q19

14 May 2019, Published under Cement News

In the first three months of 2019, Argos reported revenues of US$693.8m, an increase of 14 per cent on 1Q18. Operating EBITDA reached US$99.39m, 3.7 per cent higher, while net profit totalled US$4.9m. Total cement volumes for Argos amounted to 3.8Mt, 4.7 per cent higher than in 1Q18, while concrete volumes rose by 2.3 per cent to 2.4Mm 3 . "These results are the reflection of a great teamwork that results in the growth of our revenues and volumes, the increase of our financial flexibility...

CCJ rules in favour of reducing tax on imported hydraulic cement

18 April 2019, Published under Cement News

The Caribbean Court of Justice (CCJ) has ruled that the regional tax, known as the Common External Tariff (CET), payable on cement categorised as ‘other hydraulic cement’ should be set at five per cent. The ruling endorses a rate that is a fraction of the 60 per cent tariff that Barbados-based Rock Hard Cement had once paid on imports from Portugal and Turkey, according to the Jamaica Gleaner. In 2001, Caricom’s Council for Trade and Economic Development (COTED) had granted Barbados an ex...

Trinidad Cement seeks higher taxes on Rock Hard Cement imports

08 April 2019, Published under Cement News

Trinidad Cement Ltd (TCL) has written to the Caribbean Court of Justice to seek higher taxes to be imposed on Rock Hard Cement imports, according to the Nation. TCL wants the final appellate court to raise the tax on imported cement above the five per cent which has been suggested by last month's CARICOM Council of Trade and Economic Development (COTED). Hard Rock Cement has been importing product classified as 'other hydraulic cement' from Portugal, which makes it eligible for the five pe...

Cementos Argos

01 April 2019, Published under Cement News

In 2018 Cementos Argos shipped 16Mt of cement and 10.3Mm 3 of concrete. This generated net income of COP291bn (US$93m) and EBITDA of COP1.54trn. The company ended the year with a net-to-debt EBITDA index of 3.7 times, compared to an index of 4.6 at the end of 2017. According to the company, a bond issue totalling COP500bn with an average life of 9.5 years, plus a new syndicated loan totalling US$600m “significantly improved the debt profile”.  In the US 5.7Mt of cement and 7Mm 3 of conc...

Cementos Argos dispatched 16Mt of cement in 2018

25 March 2019, Published under Cement News

Cementos Argos has released its financial figures and strategic milestones of 2018 during the shareholders' annual meeting. Cementos Argos reported a consolidated EBITDA of COP1.54bn (US$491.7m) and a growth of eight per cent. The company dispatched 16Mt of cement and 10.3Mm 3 of concrete generating income of COP8.4bn. Net income was COP178.563m in 2018. Regional summaries US cement dispatches in 2018 amounted to 5.7Mt, while concrete dispatches reached 7Mm 3 . This raised US$1.5bn inco...

Rock Hard Cement loses import tariff judgement

19 December 2018, Published under Cement News

The Caribbean Court of Justice (CCJ) has ruled in favour of Trinidad Cement Ltd (TCL) and Arawak Cement Ltd over their dispute with importer Rock Hard Cement to have the tariff remain at 60 per cent for imported hydraulic cement to Barbados, rather than being lowered to five per cent. The court is still to determine the classification guidelines for hydraulic cement that Rock Cement imports for its local operations in Barbados.

Cementos Argos to build space launch pad

30 November 2018, Published under Cement News

Argos Cement is currently participating as the supplier of the cement needed for the construction of the Ariane VI Space Station, being built in French Guiana. Argos will ship close to 54,500t of three different types of cement with high levels of resistance and advanced technical requirements, including a road binder as a soil stabiliser solution used for the first time in this type of work, and some sulphate-resistant cements. Argos cement will be used in the construction of all the nec...

Cementos Argos reports 13% rise in 3Q net income

15 November 2018, Published under Cement News

Cementos Argos revenues edged up 1.1 per cent to COP2218bn (US$692.6m) in the third quarter of 2018 from COP2194bn in the 3Q17. In terms of sales volumes, the company increased its cement sales by 2.2 per cent to 4.242Mt and ready-mix concrete (RMC) volumes by 1.3 per cent to 2.699Mm 3 in the quarter, reflecting improved dynamics in all regions. The company's EBITDA increased 4.3 per cent YoY to COP425bn from COP407bn in the year-ago period while the EBITDA margin improved to 19.2 per cen...