Cement News tagged under: Jamaica
Caribbean Cement reports 2% revenue increase30 April 2020, Published under Cement NewsJamaica-based Caribbean Cement reported a modest two per cent YoY improvement in revenue to JMD4.54bn (US$33.49m) for the first quarter of 2020. However, overall consolidated net income decreased 57 per cent YoY to JMD500m. The company also noted that it had implemented protocols to protect employees while also serving requirements and protecting cash flows during the COVID-19 pandemic. "We are following government regulations, while working to minimise, as much as possible, the impact o... |
Caribbean Cement Co inaugurates new packing equipment05 March 2020, Published under Cement NewsJamaica'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... |
Rain sends Caribbean Cement profits down01 November 2019, Published under Cement NewsCaribbean Cement Co’s 3Q profit was affected by heavy rains at the end of summer and a large tax charge, according to the cement producer. In addition, higher operational expenses further impacted profit. Some of the costs were associated with the demolition of a large obsolete structure at its Rockfort plant near Kingston, Jamaica. Sales revenue in the third quarter fell to JMD4.38bn (US$31.8m) from JMD4.46bn in the 3Q18. Profit before tax declined 55 per cent YoY to JMD238m while profi... |
Caribbean Cement Co exports clinker to Haiti for the first time03 September 2019, Published under Cement NewsJamaica’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 ... |
DR’s roadmap to the future27 August 2019, Published under Cement NewsSupported by sustained economic development, the construction sector of the Dominican Republic has provided a solid base for growth for the country’s cement industry. With an 8Mta production capacity, domestic cement companies have helped the country make the switch from being a net importer to a net exporter. Providing the setting to the XXXVI FICEM Technical Congress 2019, ADOCEM provides a timely update of its cement sector. By ADOCEM, Dominican Republic. With 8Mta of production ca... |
Caribbean Cement to dispose of over 2m tyres22 July 2019, Published under Cement NewsJamaica’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... |
Caribbean Cement reports 237% increase in net profit01 May 2019, Published under Cement NewsJamaica’s Caribbean Cement Co Ltd has announced a two per cent YoY revenue increase to JMD4.45bn (US$33.35m) for the first quarter of 2019. However, its net profit surged 237 per cent from JMD334m to JMD1.13bn. The significant increase in net profit follows the company’s debt refinancing last year, which saw it buy back assets from its immediate parent Trinidad Cement Ltd. The result is Caribbean Cement’s highest profit outturn for 12 straight quarters, according to the Jamaica Gleaner. ... |
Caribbean Cement secures loan to pay US$ debt12 December 2018, Published under Cement NewsJamaica'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... |
Carribbean Cement 9M revenues up 8%, net profit down 28%29 October 2018, Published under Cement NewsCaribbean Cement Co Ltd reported revenues of JMD13.239bn (US$98.4m) in 9M18, up 7.9 per cent from JMD12.265bn in the year-ago period. EBITDA rose 58.8 per cent from JMD2.429bn in 9M17 to JMD3.857bn in 9M18 on the back of lower operational costs and increased plant efficiency. Operating profit advanced to JMD3.081bn, up 49.6 per cent when compared to 9M17. However, net finance costs of JMD1.077bn and taxation of JMD0.7bn saw net profit fall by 27.6 per cent from JMD1.814bn in 9M17 to JMD1... |
New cement plant for Jamaica?22 October 2018, Published under Cement NewsHaiti-based Gilbert Bigio Group (GB) reportedly plans to build a cement plant in Jamaica to consolidate its footprint in the country, according to CPI Financial. At present it imports cement from its Domicem plant in the Dominican Republic and sells it via its Jamaican subsidiary Buying House. Mauricio Pulido, GB Energy Jamaica country head, suggested that the Jamaica venture, for which a location yet has to be found, could be led out of Haiti through Kolos, a joint venture between Domicem... |