Cement News tagged under: Caribbean Cement Co Ltd

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Caribbean Cement resumes exports to Cuba

23 March 2020, Published under Cement News

Caribbean Cement Co Ltd increased its export sales threefold YoY in 2019, including markets such as Guantánamo Bay, Cuba. While CCCL’s 2019 annual report did not name Guantánamo Bay, a cement company representative told the Financial Gleaner that Caribbean Cement resumed exports to that area, and that those sales would have positively impacted on total exports. The cement producer had previously announced that it wanted to recommence exports to several Caribbean countries, including the Ba...

Caribbean Cement reports 237% increase in net profit

01 May 2019, Published under Cement News

Jamaica’s Caribbean Cement Co Ltd has announced a two per cent YoY revenue increase to JMD4.45bn (US$33.35m) for the first quarter of 2019. However, its net profit surged 237 per cent from JMD334m to JMD1.13bn. The significant increase in net profit follows the company’s debt refinancing last year, which saw it buy back assets from its immediate parent Trinidad Cement Ltd. The result is Caribbean Cement’s highest profit outturn for 12 straight quarters, according to the Jamaica Gleaner. ...

Carribbean Cement 9M revenues up 8%, net profit down 28%

29 October 2018, Published under Cement News

Caribbean Cement Co Ltd reported revenues of JMD13.239bn (US$98.4m) in 9M18, up 7.9 per cent from JMD12.265bn in the year-ago period. EBITDA rose 58.8 per cent from JMD2.429bn in 9M17 to JMD3.857bn in 9M18 on the back of lower operational costs and increased plant efficiency. Operating profit advanced to JMD3.081bn, up 49.6 per cent when compared to 9M17. However, net finance costs of JMD1.077bn and taxation of JMD0.7bn saw net profit fall by 27.6 per cent from JMD1.814bn in 9M17 to JMD1...

Caribbean Cement receives approval for quarry projects

05 September 2018, Published under Cement News

Jamaica’s Caribbean Cement Co Ltd has received approval from the National Environment and Planning Agency (NEPA) to develop a new limestone quarry and extend its existing gypsum quarry. The company expects to produce 200,000tpa of gypsum once it expands its Halberstadt quarry from 2ha to 6.7ha. The new 20ha limestone quarry at Harbour Head, St Andrew, would be contiguous to an existing quarry and produce 800,000tpa. The environmental report on the plans had already indicated that the com...

Caribbean Cement signs two loan agreements with Cemex España

01 June 2018, Published under Cement News

Caribbean Cement Co Ltd has signed two loan agreements valued at US$102m with Cemex España, which will be used for the repurchase of assets at its Rockfort facility. The loans will be mainly used to acquire kiln five and mill five, according to The Gleaner. The assets will be acquired from the company’s immediate parent, Trinidad Cement Ltd. "The remainder, if any, will be used for general corporate purposes," said Caribbean Cement in a market filing. Cemex SAB de CV, parent of Cemex Espa...

Jamaica signs CCCL export agreement to Venezuela

04 November 2013, Published under Cement News

The government of Jamaica has signed an agreement for Caribbean Cement Co Ltd (CCCL) to supply cement to Corporación Socialista del Cemento under the PetroCaribe agreement, local media have reported. However, the arrangement is yet to be approve from authorities in Venezuela. Under the Trade Compensation Mechanism of the PetroCaribe energy cooperation agreement, Jamaica is allowed to settle a portion of its oil debt to Venezuela through the export of goods and/or services. While the propo...