Cement News tagged under: Caribbean Cement Company

RSS feed

Caribbean Cement to boost exports

18 September 2023, Published under Cement News

Caribbean Cement Co Ltd (CCCL) has exported 3400t of cement to the Turks and Caicos Islands, a volume it hopes to ramp up once its expansion plans are completed. The company is currently extending its kiln capacity as part of a US$40m investment plan, boosting production capacity by up to 30 per cent. “As soon as we have available product, available capacity, we will always sell it to Jamaica. This is our priority. However, there is a market out there for us. We will actively look for o...

Caribbean Cement sees revenue advance in 1H23

13 September 2023, Published under Cement News

Caribbean Cement Co Ltd has reported consolidated unaudited revenue of JMD14,277m (US$92.48m) in the first half of 2023. This compares to JMD13,516m in the same period a year earlier. Gross profit in the 1H23 came in at JMD4986m, down from the JMD6102m seen in the opening six months of 2022. The total cost of sales and operating earnings has advanced from JMD8763m in the 1H22 to JMD10,677m in the same period a year later. Over the same timeframe, operating earnings before other income a...

Buying House Cement could fill Jamaican cement shortages

10 August 2021, Published under Cement News

Jamaica's Government is being asked to consider alternative cement suppliers to Caribbean Cement (Cemex group) becaue of recent shortages on the island, which CemNet first reported in May . For the last 15 years, Montego Bay company Buying House Cement has been importing the product to meet 10 per cent of Jamaica’s cement demand from the Domicem cement plant in the Dominican Republic. Mark Hart, chairman of Cargo Handlers, a publicly-listed company with 30 per cent shares in Buyi...

Caribbean Cement sees sales rise 31%

07 June 2021, Published under Cement News

Jamaica’s Caribbean Cement Ltd has posted a 31 per cent YoY increase in sales to JMD5.97bn (US$40.15m) for the first quarter of 2021. Net profit also surged 216 per cent to JMD1.53bn, already representing 48 per cent of 2020’s full-year total, according to the Jamaica Observer. The company also set a new production record of 100,000t of cement in March. The rise in figures comes as the country records a strong performance from the construction sector across the board.

Construction sector reports Jamaican cement shortage

17 May 2021, Published under Cement News

Members of the construction industry in Jamaica are reporting a cement supply shortage, as the country reaches its peak demand season. According to the Jamaica Observer, a hardware dealer on the south coast noted that it may have to cut staff if the shortage continues, adding that there has also been a hike in the price of construction materials. "What has been happening over the past two weeks is there has been unprecedented demand for cement, but we have been supplying the market. And, ...

Record production at Caribbean Cement in 2020

11 January 2021, Published under Cement News

Caribbean Cement Company (TCL/Cemex group) says it reached a new record in 2020 by manufacturing more than 940,000t of cement in response to market demand in Jamaica.  "The market responded opposite to what might have been expected given the pandemic. Instead of slowing down, construction grew, and we kept in step with our customers by meeting their demand consistently. We will continue to ramp up production as the market grows," said Yago Castro, general manager of Caribbean Cement Ltd ...

Caribbean Cement agrees three-year labour agreement

14 December 2020, Published under Cement News

The Union of Clerical Administrative and Supervisory Employees (UCASE) and the management of Caribbean Cement Co Ltd have reached agreement on a three-year collective labour agreement, covering the company’s unionised production workers at its Rockfort cement plant in Kingston, Jamaica. The agreement was reached following several meetings between the company and the union at the local level and covers the period 1 July 2018 to 30 June 2021. The deal will provide an 18 per cent increase...

Caribbean Cement sees sales increase 11% in 9M20

28 October 2020, Published under Cement News

Jamaica’s Caribbean Cement has seen its sales rise 11.1 per cent YoY to JMD15bn (US$102.8m) in the 9M20, compared to JMD13.5bn in the year-ago period. The company’s gross profit of JMD7bn from the first nine months of this year equates to what the company made in the full-year 2019 period, according to the Jamaica Gleaner.  In the third quarter of 2020, the company saw profits reach JMD1.2bn from JMD5.8bn of revenue. This compares to the JMD77m profit in the 3Q19 from sales of JMD4.4bn. ...

Caribbean Cement may resume exports soon

18 September 2020, Published under Cement News

Jamaica-based Caribbean Cement Co Ltd is awaiting the right conditions to resume cement exports. The Rockfort plant has excess capacity, despite sustained local demand for cement even during the pandemic. "Export is something we will be considering, but it will always come behind the local market, which we prioritise," said General Manager, Yago Castro. "The good thing is that we have some production capacity surplus, so, eventually, if the local market allows us, then we can allocate diff...

Caribbean Cement forecasts 10-20% sales decline in 2020

03 June 2020, Published under Cement News

Jamaica-based Caribbean Cement expects its annual sales to drop 10-20 per cent this year, due to the effects of the COVID-19 pandemic. "The forecast we are seeing is a 10 to 20 per cent decline in annual terms," said Yago Castro, general manager. "We are factoring the first quarter which was normal, but the second quarter we saw a drop by one-third, and the third quarter we are also expecting a decline when compared with last year," he said. Sales were down 35 per cent YoY in April and...