Cement News tagged under: Jamaica

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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...

Caribbean Cement Co explains cement shortage

08 March 2023, Published under Cement News

Caribbean Cement Co is apologising cement shortages in Jamaica. Hardware stores in Mandeville and Christiana in Manchester and Santa Cruz in St Elizabeth had no or limited cement available. However, the shortage is only expected to last a week. "We have begun to restart the kiln after a 40-day shutdown and we will begin to stabilise supply very soon. We are apologising to our customers for any issues that they may have been experiencing," said Chad Bryan, communication and social imp...

US$8m cement distribution centre planned for Montego Bay

28 November 2022, Published under Cement News

Plans to establish a new US$8m cement distribution centre in Montego Bay, Jamaica, have been put forward by cement importers Buying House Cement. For the last 16 years, Montego Bay company Buying House Cement has been importing cement to meet 10 per cent demand from the Domicem cement plant in the Dominican Republic. Businessman Mark Hart is the chairman of Cargo House Handlers, a publicly-listed company with 30 per cent shares in Buying House Cement. According to Hart, the development...

Caribbean Cement Co reports 13% 3Q revenue increase

02 November 2022, Published under Cement News

Jamaica-based Caribbean Cement Co Ltd has posted robust 3Q22 results with revenues for the quarter increasing by 12.7 per cent to JMD6.2bn (US$40.3m) from JMD5.5bn in the 3Q21. Operating earnings were up to JMD1.9bn due to the reduction in the cost of sales as a share of net sales to 56 per cent from 80 per cent in the same period last year. This reduction was the result of the company’s decision not to undertake its planned major maintenance in the 3Q22. Last year, the maintenance progr...

Caribbean sees rapid expansion for cement with construction growth

16 September 2022, Published under Cement News

This week CEMEX announced that it has restarted its 0.5Mta kiln line at its San Pedro de Macoris plant in the Dominican Republic as part of its US$34m upgrade. While this plant will see further improvements in waste-derived fuels, additives and hydrogen technology, ICR assesses what other developments are happening in the Caribbean sector. The mood of the Dominican Republic is best captured by ADOCEM, the cement association representing six producers in the country. Julissa Béaez, Adocem ...

Cemex plans 30% expansion at Caribbean Cement Co

26 August 2022, Published under Cement News

CEMEX plans to expand the production capacity at its subsidiary in Jamaica, Caribbean Cement Co Ltd (CCCL). This expansion aims for an up to 30 per cent increase CCCL’s cement capacity, through an investment of approximately US$40m for the first phase of the project.   The announcement was made by CEMEX’s CEO, Fernando A González, during his visit to Jamaica, jointly with the Prime Minister of Jamaica, Andrew Holness, relevant officials of the Jamaican government and key representati...

Caribbean Cement reports drop in 2Q profit

05 August 2022, Published under Cement News

Jamaica-based Caribbean Cement posted operating profit of US$28.2m in the 1H22, representing a two per cent drop YoY from US$28.8m. Net profit also slipped by two per cent YoY to US$19.7m, despite a 10 per cent increase YoY in sales to US$85.5m in the 2Q22. The drop in earnings was attributed to increased operational expenses during a downturn in the global economy.

Caribbean Cement posts flat 1Q profit

06 May 2022, Published under Cement News

Caribbean Cement Co Ltd in Jamaica has reported a flat profit for its 1Q22 but views the future with optimism. In the January-March 2022 quarter, Caribbean Cement saw a profit of JMD1.59bn (US$10.3m) on a revenue of JMD6.8bn, compared to a profit of JMD1.53bn on JMD5.97bn a year earlier. "CCC remains encouraged about the future, especially given the recent actions by the Government of Jamaica to remove curfews and fully reopen the economy. The company is also heartened by the strong ceme...

Caribbean Cement to launch Vertua-certified cement

07 February 2022, Published under Cement News

Cemex -owned Caribbean Cement Co will be launching its newly co-branded Vertua-certified cement to support the reduction in carbon emissions by 40 per cent by 2030. “Vertua is a brand that CEMEX worldwide has selected to put on all the low-carbon cement — it's an umbrella, it's a branding. We have a product that has already qualified as Vertua. Every bag you see out there that carries Carib Cement or Carib Cement plus is a low-carbon product,” said the company’s Managing Director, Yago ...