Cement News tagged under: Jamaica

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Trinidad Cement directors recommend rejection of Cemex bid

04 January 2017, Published under Cement News

The board of directors of Trinidad Cement Ltd (TCL) has written to shareholders advising them to reject Cemex's TTD597m (US$89m) offer for a controlling interest in the company, the Jamaica Observer reports. “The company (TCL) has experienced a turnaround after multiple past efforts to do so. The evidence of the turnaround is supported by the company’s return to sustainable profitability in 2015 and continuing to produce positive net income throughout 2016,” said the directors in their le...

Jamaica: Caribbean Cement new GM and quarterly results

07 November 2016, Published under Cement News

Peter Donkersloot Ponce will replace Alejandro Vares Leal as Caribbean Cement Company’s (CCC) general manager, effective 7 November 2016. Mr Leal is leaving the company to accept the position of vice president of infrastructure and government sales at Cemex Mexico. Cemex is the top shareholder in CCC’s parent company, Trinidad Cement Ltd. Mr Ponce has over 10 years’ experience in the industry, having held key positions in four countries in commercial areas, strategic planning and general ...

Caribbean Cement posts Q3 loss of US$0.63m

04 November 2016, Published under Cement News

Jamaica-based Caribbean Cement Company has posted a third-quarter loss of JMD81m (US$0.63m), reports the Gleaner newspaper. In a statement, the firm said: "During the reporting quarter, the company embarked on a major kiln overhaul which lasted 45 days and impacted the income statement by US$7.5m (JMD970m). Along with the capital expenditure of JMD622m invested this quarter, this is expected to lead to an improved operational efficiency and reliability of the plant. “"Other factors imp...

Caribbean Cement orders reclaimer

30 August 2016, Published under Cement News

Caribbean Cement has ordered a new 700tph full-portal reclaimer for limestone with a railspan of 42m for its Rockfort plant in Jamaica. The order follows a long-standing project, which was initially considering the conversion of existing equipment. However, the purchase of a new machine proved to be more economical than carrying out several modifications to the existing equipment.

Caribbean Cement 1Q16 revenue up but exports down 53%

28 April 2016, Published under Cement News

Caribbean Cement Limited (CCL) reported that, on the back of an increase in domestic sales, 1Q16 total revenue increased by 11 per cent or US$398m to US$3.98bn over the previous year, when they reached US$3.58bn. However, in the 1Q16 the company also noted declines in exported cement and clinker sales volumes of 53 per cent and 56 per cent respectively, said the Jamaican Observer. In March CCL introduced a 1.5 per cent discount on all cash purchases, adding to a 0.5 per cent discount t...

TCL reports second consecutive year of record revenues

11 March 2016, Published under Cement News

Trinidad Cement Co Ltd said it recorded its highest ever revenue of TTD2.1bn (US$319m), an increase of TTD12.4m compared to a year earlier despite facing increased competition. The increase represents the second consecutive year of record revenues The 2015 revenue growth was mainly driven by a 12 per cent rise in cement sales volumes in Jamaica and a 16 per cent increase in clinker sales volumes. Profit after tax amounted to TTD428.7m compared with losses of TTD211m in the prior year w...

Jamaica: CCCL posts higher full-year earnings

03 March 2016, Published under Cement News

Caribbean Cement Co Ltd (CCCL) posted JMD1.54bn (US$12.7m) in earnings for year ending December 2015, compared to the JMD139m a year earlier. The increase by the Jamaica-based producer, part of the TCL Group, comes despite big severance payouts. The separation of some former managers and voluntary redundancies late last year cost CCCL JMD436m. Among these, Anthony Haynes, who resigned from office as general manager last April to make room for Alejandro Varés as the new head, was the most ...

Caribbean Cement Co swings to first-half profit, Jamaica

23 July 2015, Published under Cement News

Caribbean Cement Co Ltd (CCCL) reported a consolidated profit of JMD869.3m (US$7.42m) for the first six months of 2015, compared to a loss of JMD53.2m in the corresponding period of 2014 – an improvement of JMD922m. The TCL group company said revenue during the first half of this year rose by four per cent (or JMD276m) over the period, mainly driven by improved domestic sales volumes and increased clinker exports which compensated for the decline in cement exports. EBITDA increased by JMD8...

Jamaica: Caribbean Cement to start 240,000t Venezuelan shipment

23 October 2014, Published under Cement News

Caribbean Cement Company Ltd (CCCL) has commenced supply of a new 240,000t clinker order to Venezuela. The US$20.5m contract will run over an 18-month period and help boost export revenue from the Rockfort plant. The new order from Caracas extends a previous agreement that saw CCCL ship 100,000t of clinker between December 2013 and April 2014 in a US$8.5m deal. In 9M14, CCCL recorded clinker exports of 80,373t, compared to 6757t in 9M13. Cement export sales also increased during the Jan-Se...

Improved pricing and exports boost CCCL first half

18 August 2014, Published under Cement News

Caribbean Cement Company Ltd (CCCL), the Jamaican subsidiary of Trinidad Cement Limited (TCL), achieved a 28 per cent increase in revenue for the first half of the year due to improved pricing and increased exports. Turnover rose to JMD7.25bn up from JMD5.68bn a year earlier, “driven by improved pricing and an almost doubling of aggregate clinker and cement export sales volumes,” a report by Mayberry Investments stated. However, revenue was impacted by “general inflationary increases d...