Cement News tagged under: Jamaica

RSS feed

Caribbean Cement consolidated profit hits JMD2bn

31 October 2017, Published under Cement News

Caribbean 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 case

18 August 2017, Published under Cement News

David 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 lease

14 July 2017, Published under Cement News

Caribbean 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 increase

23 June 2017, Published under Cement News

Caribbean 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 unrest

30 May 2017, Published under Cement News

Jamaica'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 victims

26 May 2017, Published under Cement News

Caribbean 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 News

Trinidad 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 shortage

11 April 2017, Published under Cement News

Carib 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...

Jamaica: CCC joins greenhouse initiative

31 January 2017, Published under Cement News

State Minister of the Ministry of National Security, Pearnel Charles Jr, has praised the Caribbean Cement Company (CCC) for partnering with the Department of Corrections (DCS) to establish a greenhouse project at the Tamarind Farm Adult Correctional Centre. "The use of greenhouse technology at Tamarind Farm is a significant milestone in our efforts to enhance rehabilitation through skills training, and advance the production of quality crops," said Mr Charles.

Jamaica: Caribbean Cement Co fire

18 January 2017, Published under Cement News

Caribbean Cement Company (CCC) reported a fire at its administrative office on Monday, 16 January 2017. “The incident did not affect production and will not affect our ability to supply cement to the trade and our valued customers. Our customers’ trucks continue to be loaded and the incident has not disrupted supply,” a statement from the Rockfort, Kingston, company said.