Cement News tagged under: Caribbean
TCL places hold on all debt payments02 October 2014, Published under Cement NewsFollowing a financial assessment of Trinidad Cement Ltd (TCL) by PricewaterhouseCoopers (PwC), the Caribbean-based cement producer has decided to place a hold on all payments due under the existing restructured loan agreements and has proposed a “standstill.” The decision to propose a standstill came after TCL met with its lenders on Monday to update them on the present state of the company. “Subsequent to the meeting, the board of directors took a decision to place a hold on all paym... |
TCL second-quarter revenue up 9%20 August 2014, Published under Cement NewsTrinidad Cement Ltd (TCL) saw second-quarter revenue rise by nine per cent to TTD560m (US$88.3m) as demand remained strong in key markets. EBITDA and non-recurring charges climbed 16 per cent YoY to TTD132.2m in the quarter under review. For the first half year of 2014, revenue increased by TTD79.5m or eight per cent whilst EBITDA and non-recurring charges remained flat at TTD232.2m compared with the first half of 2013. Earnings during the first six months of this year were negatively impa... |
Improved pricing and exports boost CCCL first half18 August 2014, Published under Cement NewsCaribbean Cement Company Ltd (CCCL), the Jamaican subsidiary of Trinidad Cement Limited (TCL), achieved a 28 per cent increase in revenue for the first half of the year due to improved pricing and increased exports. Turnover rose to JMD7.25bn up from JMD5.68bn a year earlier, “driven by improved pricing and an almost doubling of aggregate clinker and cement export sales volumes,” a report by Mayberry Investments stated. However, revenue was impacted by “general inflationary increases d... |
Trinidad Cement shelves bond offering23 May 2014, Published under Cement NewsTrinidad Cement dual-currency offering of speculative-grade notes has been postponed to await more favorable market conditions, according to a company statement. The deal was intended to target refinancing efforts and support general corporate purposes, and terms on an oversubscribed order book were not consistent with the company’s development strategies. A $300 million tranche of seven-year (non-call four) secured notes was talked in the 9.5 per cent area, and the same went for a $25 m... |
Cemex increases first-quarter volumes01 May 2014, Published under Cement NewsCemex' first-quarter turnover increased by 8.2 per cent to US$3590.7m, while the EBITDA improved by 2.7 per cent to US$535m. The trading profit rose by 11.7 per cent to US$267.7m. The net interest charge increased by 10.4 per cent to US$406.9m, to give a pre-tax loss 11.3 per cent higher at US$167.9m. The effective net debt was 0.9 per cent higher at US$16,325m, of which 88 per cent was in US dollar, 10 per cent in euro and two per cent in Mexican peso, with 66 per cent of the debt being ... |
Solid first quarter for Cementos Argos28 April 2014, Published under Cement NewsCementos Argos posted first-quarter net income of US$39m, up 51.7 per cent compared to the first quarter 2013. The company attributed the increase in net income in part to the inclusion of the results from a recently acquired operation in Honduras, as well as 24 days of results from new assets in Florida, company representatives explained during an investor's conference call. “The significant increase of our profitability across all of the company’s three regional divisions, the still i... |
Carib Cement receives cheque from government for Venezuela exports23 January 2014, Published under Cement NewsThe government of Jamaica has given Carib Cement Co a cheque worth US$1.69m as part payment for the provision of clinker to Venezuela under the Trade Compensation Mechanism of the PetroCaribe Agreement. The initiative will see Jamaica supply Venezuela with some 100,000t of clinker valued at approximately US$8.5m. The clinker shipments began in December 2013 and are expected to continue until May 2014. Jamaica’s Minister of Finance and Public Service, the Hon. Dr Peter Phillips, gave a c... |
Trinidad Cement Ltd 1Q13 boosted by higher sales volumes and prices13 May 2013, Published under Cement NewsFor the first quarter of 2013, Trinidad Cement Ltd recorded EBITDA of JMD114.2m (US$1.16m), reflecting a significant improvement over the first quarter of the previous year and 74 per cent of the total EBITDA achieved throughout 2012. Revenue for the quarter increased by JMD117m compared with the prior year as a result of higher cement sales volumes, the group said in a statement. Volumes were up YoY by 52 and 29 per cent in the markets of Trinidad and Tobago and Jamaica, respectively, w... |
Caribbean Cement workers protest over concerns on domestic declines04 April 2013, Published under Cement NewsUnion members of the Caribbean Cement Company Ltd (CCCL) have staged a demonstration amid concerns on continued declines in the domestic cement market. The one-hour protest took place outside the company’s plant in Rockfort, Jamaica. President of the National Workers Union (NWU), Vincent Morrison, told the Jamaica Observer that the demonstration was triggered by a number of issues, including the failure of the company to address proposals made by workers to arrest declining revenues. ... |
Colombia’s Argos closes 2012 with 25% rise in EBITDA26 February 2013, Published under Cement NewsArgos, Colombia’s largest cement producer, recorded a 25 per cent YoY rise in EBITDA in 2012 and an 82 per cent rise in operating income. The group, which also operates in the Caribbean and US, reported EBITDA of COP791,190m and operating income was COP414,566m. After incorporating the cement and concrete assets acquired in the southeastern US, consolidated revenues reached COP4,380,393m. "We traded in 10.8Mt of cement and 8.5Mm3 of concrete in Colombia, the Caribbean and the United S... |