Cement News tagged under: Caribbean Cement Company

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Tyre burning project for Caribbean Cement put on hold

21 April 2020, Published under Cement News

The coronavirus pandemic has halted a key project for Caribbean Cement Co to remove and incinerate between 1.5-2m tyres from the Riverton City landfill. A memorandum of understanding (MoU) between the country's government and Caribbean Cement was signed last July to see the removal of the environmentally-hazardous tyres from the landfill. During the pilot stage last December 6000 tyres were burnt by the cement company in 11 days, but with the onset of COVID-19, the project has been put on...

Caribbean Cement Co inaugurates new packing equipment

05 March 2020, Published under Cement News

Jamaica's Caribbean Cement Co has inaugurated a new palletising machine at its Rockfort plant to reduce manual packing. The FLSmidth Ventomatic Polimat palletiser is one of two new packing machines acquired by the company and while one machine is already up and running, the commissioning of the second is already underway. "Our production capacity, as of today, with only this new palletiser, is now more than 100 per cent of the total Jamaican market. We are able to, right now before instal...

Caribbean Cement Co exports clinker to Haiti for the first time

03 September 2019, Published under Cement News

Jamaica’s Caribbean Cement Co has exported clinker to Haiti for the first time, according to the Jamaica Observer. The 7500t shipment became possible due to excess production at the company’s plant in Kingston. The operations of the plant have been upgraded over the past four years with an investment of JMD4bn (US$162m) in capital expenditure and JMD500m in training, health and safety, and improving the plant's environment. The company has already exported 14,300t of clinker to Trinidad ...

Caribbean Cement to dispose of over 2m tyres

22 July 2019, Published under Cement News

Jamaica’s Caribbean Cement has been selected by the country’s government to remove and dispose of over 2m old tyres stockpiled at the Riverton City disposal site in Kingston, according to the Jamaica Observer. Peter Donkersloot Ponce, general manager, has confirmed that the company will be signing a memorandum of understanding with the government this week. He also noted that the company is likely to begin a 40-day trial period before moving to a full industrial roll-out. Around US$0.5m ha...

Peter Donkersloot to resign from Caribbean Cement

28 June 2019, Published under Cement News

Peter Donkersloot Ponce, general manager of Caribbean Cement Co (TCL Group), has announced that he will resign his post effective from 31 July. The position will be filled by Yago Castro Izaguirre, the current general manager of Arawak Cement Co (also TCL Group) in Barbados. Mr Donkersloot was appointed general manager of Caribbean Cement in 2016, under his leadership the company has received approval for a new limestone quarry and gypsum quarry expansion. The company also saw a 237 per c...

Caribbean Cement records JMD2.5bn profit

27 February 2019, Published under Cement News

Jamaica's Caribbean Cement Co set a record profit of JMD2.47bn (US$18.89m) in its last financial year. Sales by the cement producer rose six per cent to JMD17.5bn, while its net profit more than doubled from JMD1.1bn to JMD2.47bn. The results follow the restructuring of inventory and manpower and other efficiency measures, as well as investments in the plant at Rockfort, Kingston, reports The Gleaner. "The year 2018 marked the beginning of a period of stability for the company," Caribbean ...

Caribbean Cement earns revenues of US$131m in 2018

21 February 2019, Published under Cement News

Caribbean Cement reported an improved financial performance in 2018 compared to 2017. Revenue earned for 2018 was JMD17.6bn (US$130.8m), representing an increase of six per cent YoY.   Profit before taxation for 2018 was JMD3.3bn, an increase of 118 per cent over the JMD1.5bn reached in the previous year. Net profit after tax for the period amounted to JMD2.5bn from JMD1.1bn in 2017. Caribbean Cement terminated the lease with parent company Trinidad Cement in April 2018 with the acquisition...

Caribbean Cement secures loan to pay US$ debt

12 December 2018, Published under Cement News

Jamaica's Caribbean Cement Co Ltd and its mining subsidiary have secured a five-year JMD3bn (US$23.53m) loan from National Commercial Bank Jamaica to pay back a US dollar debt. The amount will be repaid in Jamaican dollars at a rate of 7.45 per cent per annum. The company also has stated that some of the funds will be used for general corporate purposes, according to The Gleaner. Its mining subsidiary, Jamaica Gypsum and Quarries Ltd, a borrowing partner of the loan, is also about to expan...

Caribbean Cement's debt repayments hurt 3Q18 results

31 October 2018, Published under Cement News

Caribbean Cement has blamed finance costs linked to debt owed to Cemex as well as volatile currency movements for its lower profits in 3Q18. The company's 3Q18 sales amounted to JMD4.5bn (US$33.5m) up seven per cent YoY, but profits fell to JMD305m at the end of September 2018, down from JMD748m a year ago. "The reduction in profit before taxation compared to the same period in 2017 was impacted by foreign exchange losses of JMD464m and interest payments of JMD227m. Both are related to t...

Caribbean Cement's net profit rises in 2Q18

02 August 2018, Published under Cement News

Caribbean Cement Company's net profit for the April to June quarter rose to JMD704m (US$5.24m) compared to was up from JMD629m during 2Q17. The company's revenues also rose by 11 per cent to JMD4.4bn in the 2Q18. In the first six months of 2018, the cement producer earned JMD8.8bn in revenue, which represented an increase of nine per cent over the corresponding period last year.