Cement News tagged under: Caribbean

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Trinidad Cement seeks higher taxes on Rock Hard Cement imports

08 April 2019, Published under Cement News

Trinidad Cement Ltd (TCL) has written to the Caribbean Court of Justice to seek higher taxes to be imposed on Rock Hard Cement imports, according to the Nation. TCL wants the final appellate court to raise the tax on imported cement above the five per cent which has been suggested by last month's CARICOM Council of Trade and Economic Development (COTED). Hard Rock Cement has been importing product classified as 'other hydraulic cement' from Portugal, which makes it eligible for the five pe...

Cementos Argos

01 April 2019, Published under Cement News

In 2018 Cementos Argos shipped 16Mt of cement and 10.3Mm 3 of concrete. This generated net income of COP291bn (US$93m) and EBITDA of COP1.54trn. The company ended the year with a net-to-debt EBITDA index of 3.7 times, compared to an index of 4.6 at the end of 2017. According to the company, a bond issue totalling COP500bn with an average life of 9.5 years, plus a new syndicated loan totalling US$600m “significantly improved the debt profile”.  In the US 5.7Mt of cement and 7Mm 3 of conc...

Cementos Argos dispatched 16Mt of cement in 2018

25 March 2019, Published under Cement News

Cementos Argos has released its financial figures and strategic milestones of 2018 during the shareholders' annual meeting. Cementos Argos reported a consolidated EBITDA of COP1.54bn (US$491.7m) and a growth of eight per cent. The company dispatched 16Mt of cement and 10.3Mm 3 of concrete generating income of COP8.4bn. Net income was COP178.563m in 2018. Regional summaries US cement dispatches in 2018 amounted to 5.7Mt, while concrete dispatches reached 7Mm 3 . This raised US$1.5bn inco...

Rock Hard Cement loses import tariff judgement

19 December 2018, Published under Cement News

The Caribbean Court of Justice (CCJ) has ruled in favour of Trinidad Cement Ltd (TCL) and Arawak Cement Ltd over their dispute with importer Rock Hard Cement to have the tariff remain at 60 per cent for imported hydraulic cement to Barbados, rather than being lowered to five per cent. The court is still to determine the classification guidelines for hydraulic cement that Rock Cement imports for its local operations in Barbados.

Cementos Argos to build space launch pad

30 November 2018, Published under Cement News

Argos Cement is currently participating as the supplier of the cement needed for the construction of the Ariane VI Space Station, being built in French Guiana. Argos will ship close to 54,500t of three different types of cement with high levels of resistance and advanced technical requirements, including a road binder as a soil stabiliser solution used for the first time in this type of work, and some sulphate-resistant cements. Argos cement will be used in the construction of all the nec...

Cementos Argos reports 13% rise in 3Q net income

15 November 2018, Published under Cement News

Cementos Argos revenues edged up 1.1 per cent to COP2218bn (US$692.6m) in the third quarter of 2018 from COP2194bn in the 3Q17. In terms of sales volumes, the company increased its cement sales by 2.2 per cent to 4.242Mt and ready-mix concrete (RMC) volumes by 1.3 per cent to 2.699Mm 3 in the quarter, reflecting improved dynamics in all regions. The company's EBITDA increased 4.3 per cent YoY to COP425bn from COP407bn in the year-ago period while the EBITDA margin improved to 19.2 per cen...

Cementos Argos sees falling volumes

18 May 2018, Published under Cement News

Cementos Argos released its 1Q18 results this week , announcing revenues of COP1.9trn (US$670m), but cement sales fell by 4.1 per cent to 3.7Mt and ready-mix volumes by 7.5 per cent to 2.4Mm 3 . ICR reviews the state of Cementos Argos' regional markets and guidance going forward. The outlook for the cement and ready-mix market for the rest of the year remains positive, mainly boosted by the residential segment, which is expected to continue gaining momentum, supported by the solid fundam...

Argos consolidated EBITDA jumps 31% in 1Q18

14 May 2018, Published under Cement News

Argos has announced revenues of COP1.9trn (US$670m) and a net profit of COP54.bn in the first three months of 2018. EBITDA increased 31 per cent YoY to COP371bn. However, cement sales fell by 4.1 per cent to 3.7Mt while concrete sales volumes fell 7.5 per cent to 2.4Mm 3 . The lower volumes have been attributed mainly to the winter season that affects some US states to a greater extent as well as a large number of holidays in Colombia and the Caribbean. Demand from the housing segment was ...

Caribbean Cement seeks quarry extension approvals

14 March 2018, Published under Cement News

Caribbean Cement Company Ltd (CCCL) plans to extend the Halberstadt Gypsum Quarry from 2ha to 6.7ha and establish a limestone quarry at Harbour Head spanning 50 acres. The Jamaican quarries are roughly 8.5km apart and are operated through subsidiary Jamaica Gypsum & Quarries Ltd, but will need approval from  the National Environment & Planning Agency (NEPA). "Supplies at the gypsum quarry in Halberstadt and the limestone quarry in Harbour Head are at a critical level and as such additional...

Cementos Argos sees revenues rise, but Colombia challenges income

13 February 2018, Published under Cement News

Argos reported an improvement in its revenues for 4Q17 with stable sales for the full-year 2017. While EBITDA results fell both for 4Q17 and 2017, adjustment for non-recurring severance payments and anticipated pensions took out some of the sting as adjusted EBITDA margins for 4Q17 and 2017 reached 17.8 and 17.3 per cent, respectively. However, positive dynamics in the USA and the Caribbean and Central America regions could not fully offset a more challenging home market in Colombia and the ...