Cement News tagged under: Trinidad Cement Ltd

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Peter Donkersloot to resign from Caribbean Cement

28 June 2019, Published under Cement News

Peter Donkersloot Ponce, general manager of Caribbean Cement Co (TCL Group), has announced that he will resign his post effective from 31 July. The position will be filled by Yago Castro Izaguirre, the current general manager of Arawak Cement Co (also TCL Group) in Barbados. Mr Donkersloot was appointed general manager of Caribbean Cement in 2016, under his leadership the company has received approval for a new limestone quarry and gypsum quarry expansion. The company also saw a 237 per c...

Caribbean Cement reports 237% increase in net profit

01 May 2019, Published under Cement News

Jamaica’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. ...

TCL announces TTD49m operating loss in 2017

30 May 2018, Published under Cement News

Trinidad Cement Ltd (TCL) has announced its results for the full-year 2017 period, reporting an operating loss of TTD49m (US$7.26m) on the back of unprecedented storms in its eastern Caribbean markets and the economic downturn in Trinidad and Tobago. "These factors led to a decrease in revenue by nine per cent on a year-to-year basis compared to TTD1.7bn from 2016. Jamaica was an exception for TCL and continues to display robust economic growth, driving higher demand for our products in th...

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...

Caribbean: Trinidad Cement competes with Rock Hard Cement

23 January 2017, Published under Cement News

Rock Hard Cement of Barbados has begun to penetrate the local market in Trinidad and Tobago, offering its product at TTD46/bag (US$6.81/bag). State-owned Trinidad Cement Ltd (TCL) has spoken out, warning customers off buying the new competitor’s product. TCL has been competing with Rock Hard for about a year, its first competitor in 31 years. TCL issued a full-page advertisement in a local newspaper, warning to local consumers to “carefully consider when purchasing, as imported cement is ...

Cemex amends Trinidad Cement bid

10 January 2017, Published under Cement News

Cemex has announced that its indirect subsidiary, Sierra Trading, will present a change and variation notice making an amended offer to the offer and take-over bid of Trinidad Cement Ltd (TCL) that was presented on 5 December 2016. The acquisition of up to 132,616,942 ordinary shares in TCL paired with its existing share ownership in TCL of approximately 39.5 per cent, will result in Sierra Trading holding up to 74.9 per cent of the equity share capital in TCL. Pursuant to the amended ...

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...

Caribbean: Cemex launch takeover bid for TCL

05 December 2016, Published under Cement News

Cemex SAB de CV today announced that one of its indirect subsidiaries, Sierra Trading will present an offer and takeover bid for all shareholders of Trinidad Cement Ltd. "This Offer represents a clear sign of our commitment to TCL and the region. In addition, although we believe that our Offer is attractive given the premium to the current share price, as part of this commitment, it is also important to us that TCL remains a listed company, so that local investors can continue to benefi...

Trinidad Cement to pay first dividends in 8 years

19 May 2016, Published under Cement News

Trinidad Cement Ltd (TCL) will pay a dividend to shareholders in July. This ends an eight-year period in which shareholders received no returns from the stock. Trinidad Cement last paid a dividend in December 2007. At four cents a share the total payout will amount to TT$15m (US$2.2m). The board of directors said they approved the interim payment after considering contractual, economic, financial and legal factors. TCL has been investing in regional businesses, including Caribbean Cement...

TCL quarterly revenue boosted by higher volumes, clinker exports

06 November 2015, Published under Cement News

Trinidad Cement Ltd's (TCL) revenue rose by seven per cent in 3Q15 to TTD550.1m (US$86.3m) compared to TTD513.7m a year earlier, mainly to increased cement sales volume of 13 per cent in its domestic markets and higher clinker exports. During the second quarter the group was able to successfully refinance the restructured debt with a bridge loan and in so doing, benefitted from prepayment discounts which has been reflected in our Q2 results. In the third quarter, the group successfully...