Cement News tagged under: Jamaica
Caribbean Cement seeks quarry extension approvals14 March 2018, Published under Cement NewsCaribbean 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... |
Caribbean Cement reports lower profits in 201707 March 2018, Published under Cement NewsJamaica-based Caribbean Cement Ltd reported profits of JMD1.1bn (US$8.65m), down from JMD1.3bn in 2016, according to RJR news. Company profits were impacted by the shutdown of a clinker line for maintenance in the second quarter, which resulted in a loss of JMD89m (compared to a profit of JMD359m in 2Q16). Revenues increased to JMD16.5bn when compared with JMD15.7bn the previous year. |
Caribbean Cement consolidated profit hits JMD2bn31 October 2017, Published under Cement NewsCaribbean Cement group reported YtD consolidated profit before tax of JMD2.01bn (US$15.86m) over nine months compared to JMD1.26bn last year, reports Loop Jamaica. The two-thirds jump was attributed to a JMD437m write-down of overstocked items identified in 2016 and JMD407m incurred during the implementation of restructuring programmes last year. In the reporting quarter, the group announced a profit before tax of JMD847m compared to a loss before tax of JMD27m in the correspondi... |
Former Western Cement owners lose damages case18 August 2017, Published under Cement NewsDavid Wong Ken and his partners have lost their case against former public officials and the National Investment Bank of Jamaica (NIBJ), which they accused of conspiring to ruin Western Cement Company to aid rival firms, to which they were connected, to control the market for domestic quicklime. Western Cement had sought damages for economic loss, but the Court of Appeal at the end of July upheld the judgment of Supreme Court Justice Brian Sykes for NIBJ against Western Cement for repaymen... |
Caribbean Cement Co to refinance operating lease14 July 2017, Published under Cement NewsCaribbean Cement Co plans to refinance the operating lease for its Rockfort plant in Kingston, the Jamaica Gleaner reports. The company is to set up a dedicated advisory board to address its operating lease, payable to immediate parent company Trinidad Cement Ltd. "The structure of the lease is not the most efficient and might have made sense five years ago when Caribbean Cement had no possibility to finance its assets," said Caribbean Cement General Manager, Peter Donkersloot Ponce, at... |
Caribbean Cement announces price increase23 June 2017, Published under Cement NewsCaribbean Cement Co of Jamaica has announced an increase in the price for cement, effective Monday. In a release published by the Jamaica Gleaner, Carib Cement said the price of its most popular product, Carib Cement Plus, will be increased by JMD38 in addition to General Consumption Tax (GCT). It says the price of its other cement products will also be increased. The company added that after three years without a price increase, the devaluation of the Jamaican dollar and increases in fue... |
Jamaica Labour Ministry intervenes in Carib Cement unrest30 May 2017, Published under Cement NewsJamaica's Ministry of Labour has intervened following industrial action by workers at Caribbean Cement Company over the company's wage offer, local media report. Ministry officials entered a meeting with union representatives after workers at the company’s Rockfort plant protested on Friday morning. Workers believe that the offer of a three per cent increase in year one and four per cent increase in the second year is too low and are calling for a rise of no less than seven per cent. G... |
Caribbean Cement donates bags of cement for flood victims26 May 2017, Published under Cement NewsCaribbean Cement has donated 3000 bags of cement bearing market value of JMD3.2m (US$ 24,598) to Jamaica's Office of the Disaster Preparedness and Emergency Management (ODPEM) on Tuesday for the assistance of flood victims. The ODPEM will have responsibility in the distribution of the cement. Sophia Lowe-Pinnock, corporate communication and public relations manager at Carib Cement, told The Gleaner that the decision to donate the item arrived out of a previous meeting with Prime Ministe... |
Trinidad Cement revenues down 12%04 May 2017, Published under Cement NewsTrinidad Cement Ltd (TCL) said its revenue for the first three months of the year was down by 12 per cent YoY to TTD422m (US$62.5m) due to a construction slowdown in one of its major markets and tougher regional competition. Group volumes in 1Q17 were down six per cent YoY which the company said reflected a slowdown in Trinidad and Tobago construction activity, compounded by increased competition in the Caribbean region. However, TCL noted that positive trends continued in the Jamaican m... |
Carib Cement implements temporary measures to address Jamaica cement shortage11 April 2017, Published under Cement NewsCarib Cement, Jamaica’s sole cement producer, has said it is implementing a number of measures to overcome a domestic cement shortage after mechanical problems in the packaging area caused operations to be disrupted. The cement producer has confirmed reports that had reached The Sunday Gleaner (Jamaica) of a shortage of cement on the Caribbean island. The daily newspaper had been informed by local hardware merchants and dealers that they have been unable to meet demand because of a lack of... |