Cement News tagged under: Caribbean

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US$8m cement distribution centre planned for Montego Bay

28 November 2022, Published under Cement News

Plans to establish a new US$8m cement distribution centre in Montego Bay, Jamaica, have been put forward by cement importers Buying House Cement. For the last 16 years, Montego Bay company Buying House Cement has been importing cement to meet 10 per cent demand from the Domicem cement plant in the Dominican Republic. Businessman Mark Hart is the chairman of Cargo House Handlers, a publicly-listed company with 30 per cent shares in Buying House Cement. According to Hart, the development...

Argos records sales of COP8.5trn during the 3Q22

10 November 2022, Published under Cement News

Argos ( Grupo Argos ) has reported the highest levels of sales and EBITDA in its history, with figures of COP8.5trn (US$302.6m) and COP1.5trn, and increases of 20.7 and 4.3   per cent, respectively. During the third quarter the EBITDA increased 27 per cent and we had an increase of 20 basis points in the EBITDA margin during the period.   Regarding volumes, from January to September, Argos delivered 12.3Mt of cement, 2.3  per cent less and 5.8Mm 3 of concrete, 8.7 per cent higher. Du...

Caribbean Cement Co reports 13% 3Q revenue increase

02 November 2022, Published under Cement News

Jamaica-based Caribbean Cement Co Ltd has posted robust 3Q22 results with revenues for the quarter increasing by 12.7 per cent to JMD6.2bn (US$40.3m) from JMD5.5bn in the 3Q21. Operating earnings were up to JMD1.9bn due to the reduction in the cost of sales as a share of net sales to 56 per cent from 80 per cent in the same period last year. This reduction was the result of the company’s decision not to undertake its planned major maintenance in the 3Q22. Last year, the maintenance progr...

Caribbean sees rapid expansion for cement with construction growth

16 September 2022, Published under Cement News

This week CEMEX announced that it has restarted its 0.5Mta kiln line at its San Pedro de Macoris plant in the Dominican Republic as part of its US$34m upgrade. While this plant will see further improvements in waste-derived fuels, additives and hydrogen technology, ICR assesses what other developments are happening in the Caribbean sector. The mood of the Dominican Republic is best captured by ADOCEM, the cement association representing six producers in the country. Julissa Béaez, Adocem ...

CEMEX restarts line in Dominican Republic

12 September 2022, Published under Cement News

CEMEX has restarted the 0.5Mta Line 1 at its San Pedro de Macorís plant in the Dominican Republic. The US$34m upgrade project began in 2021 and forms part of the company’s expansion plans to help support local cement demand in the country. The next stage of the expansion plans includes increasing production and dispatch capacity, as well as augmenting the use of waste-derived fuels, state-of-the-art additives, and expanding the pioneering use of hydrogen as a catalyst in its two produ...

Cemex plans 30% expansion at Caribbean Cement Co

26 August 2022, Published under Cement News

CEMEX plans to expand the production capacity at its subsidiary in Jamaica, Caribbean Cement Co Ltd (CCCL). This expansion aims for an up to 30 per cent increase CCCL’s cement capacity, through an investment of approximately US$40m for the first phase of the project.   The announcement was made by CEMEX’s CEO, Fernando A González, during his visit to Jamaica, jointly with the Prime Minister of Jamaica, Andrew Holness, relevant officials of the Jamaican government and key representati...

CEMEX to install hydrogen technology at San Pedro De Macoris plant

25 August 2022, Published under Cement News

CEMEX is implementing hydrogen technology at its San Pedro De Macoris cement plant in the Dominican Republic. Fernando A González, CEO of CEMEX, was at the project's inauguration, which is part of the company's Future in Action programme that seeks to achieve carbon neutrality by 2050. "Through projects like this, we reiterate our commitment to leveraging innovation to meet our ambitious sustainability and CO 2 reduction goals," said Mr González. "Hydrogen is a key technology for our...

Argos generates revenue of COP2.9trn in 2Q22

11 August 2022, Published under Cement News

Argos, ( Grupo Argos ) recorded revenues and strong demand for cement and ready-mix, mainly in the United States and Colombia, as well as stable operating results in an environment of high-cost inflation helped by its strategy, the flexibility of its fuel matrix and the partial hedging of fuel prices. From April to June 2022 (2Q22), the cement company generated revenues for COP2.9trn (US$670m), 15.3 per cent higher compared to the same months of the previous year. Also, it obtained an adj...

Caribbean Cement reports drop in 2Q profit

05 August 2022, Published under Cement News

Jamaica-based Caribbean Cement posted operating profit of US$28.2m in the 1H22, representing a two per cent drop YoY from US$28.8m. Net profit also slipped by two per cent YoY to US$19.7m, despite a 10 per cent increase YoY in sales to US$85.5m in the 2Q22. The drop in earnings was attributed to increased operational expenses during a downturn in the global economy.

Inflationary pressures impact Argos results in the 1Q22

11 May 2022, Published under Cement News

Argos ( Grupo Argos ) reports its 1Q22 generated record revenues of COP2.6trn (US$637.8m), up 11.2 per cent, and EBITDA of COP359bn, 17.8 per cent lower than in the 1Q21, mainly due to higher inflationary pressures that impacted costs associated with raw materials, energy, freight, and operational maintenance. The company highlights the very good price performance in all regions, which is expected to mitigate the impact of inflation on costs going forward. Cement volumes remained stable a...