Cement News tagged under: Trinidad Cement Company
Trinidad Cement appoints new director26 October 2012, Published under Cement NewsTrinidad Cement has appointed Mr Alejando Alberto Ramirez as a Director. The effective date is October 12, 2012. |
Trinidad Cement Limited sees revenue up 4% but 20% EBITDA cut20 August 2012, Published under Cement NewsFor the six months ended 30 June 2011 Trinidad Cement Limited (TCL) reported a loss per share (LPS) of JMD0.59 (from continuing operations) which compares with an LPS of JMD0.28 (from continuing operations) for 1H2011. TCL's revenue was up 3.9 per cent but reported earnings before interest, tax and depreciation (EBITDA) of JMD33.9m (US$381,413) a 20 per cent decline YoY. EBITDA was significantly affected by the general labour strike at the Trinidad plant, which persisted for three months. ... |
Trinidad prices to come down01 August 2012, Published under Cement NewsTrinidad Cement Ltd announced that a temporary surcharge imposed on bagged cement has been removed and that cement prices are expected to go down in the coming weeks. Speaking to local press, Satnarine Bachew said a 42.5kg bag of cement had increased by US$13 as the company was forced to raise prices two weeks after workers began strike action on 27 February. "The additional charge was driven by the higher cost of satisfying the local cement demand due to extenuating circumstances crea... |
TCL and Union impasse expected to head to court, Trinidad28 May 2012, Published under Cement NewsThe industrial relations dispute between Trinidad Cement Ltd (TCL) and the Oilfields Workers’ Trade Union (OWTU) is expected to go to the Industrial Court for a resolution. T he 90-day strike notices served on TCL and subsidiary Trinidad Packaging on 27 February has now expired. Speaking to the Trinidad Express, OWTU branch president Lawrence Renaud said both parties would have seven days to refer the matter to the court. "When the matter goes to the Industrial Court all industrial actio... |
Guyana: consumers urged not to buy cement at inflated prices03 May 2012, Published under Cement NewsActing Commerce Minister Irfaan Ali is advising consumers not the pay the increase in what he has described as extremely inflated prices for cement in Guyana. According to the minister a price of GYD1395 (US$6.90) has been agreed upon for the retailing of this commodity and any distributor selling above this will be prosecuted. Speaking at a press conference held in light of the recent increase in cement prices on Wednesday, Irfaan Ali said there has been no increase in cement prices f... |
TCL: deliveries continue to arrive04 April 2012, Published under Cement NewsA fresh supply of cement was offloaded at the Trinidad Cement Ltd port yesterday and the company's management assures customes that there is no shortage of cement in the market as strike action at the plant continues. General manager of TCL Satnarine Bachew, assured there was no shortage of cement on the market. Bachew, in an interview with the Guardian yesterday, said 2600t of jumbo bags of cement and 1000t of 42.5 kg bags were offloaded at the port for sale. He admitted there were stil... |
Strike action causes Tobago shortage23 March 2012, Published under Cement NewsBuilding contractors in Tobago have been affected by strike action at Trinidad Cement’s plant in Claxton Bay, the Trinidad and Tobago Express reports. Local companies told the daily that sales had only just started to improve since a slowdown over the Christmas period but the dispute between TCL and the Oilfields Workers Trade Union (OWTU) have placed business owners back to “square one.” The month-old strike is due to members of the OWTU refusing to accept anything less than a 12 per ce... |
TCL, Union wage dispute update, Trinidad13 March 2012, Published under Cement NewsThe Oilfields Workers’ Trade Union (OWTU) and Trinidad Cement Ltd (TCL) are ready to restart negotiations in an attempt to resolve the wage dispute that has resulted in strike action and a cement shortage. On 5 March the union served a strike notice on the company after rejecting a 6.5 per cent wage offer. The union’s president general, Ancel Roget, has given instructions that the letter be sent to the Ministry of Labour requesting intervention. Last week, the Ministry stated that both par... |
Trinidad sales rise on impending strike action27 February 2012, Published under Cement NewsTrinidad Cement Ltd (TCL) has recorded a 30 per cent increase in sales of its cement products as suppliers began stocking up on supplies in preparation for strike action at the Claxton Bay company, the Trinidad Guardian reports. TCL general manager, Satnarine Bachew, said since news of the workers plan to serve strike notice on the company, there has been a marked increase in purchases. He admitted that the company did not have sufficient supplies to sustain itself over the strike period.... |
TCL to challenge Competition Commission, Trinidad26 January 2012, Published under Cement NewsTrinidad Cement Company (TCL) has been granted an application for special leave by the Caribbean Court of Justice, allowing the cement producer to challenge a report on the region’s cement trade undertaken by Caricom’s Competition Commission. This follows an investigation conducted by the commission into TCL’s operations regarding the production and sale of cement in Caricom which began in December 2009, the Trinidad Guardian reports. The seven judges that sat on yesterday’s panel ordered ... |