Cement News tagged under: Caribbean
Solid first quarter for Cementos Argos28 April 2014, Published under Cement NewsCementos Argos posted first-quarter net income of US$39m, up 51.7 per cent compared to the first quarter 2013. The company attributed the increase in net income in part to the inclusion of the results from a recently acquired operation in Honduras, as well as 24 days of results from new assets in Florida, company representatives explained during an investor's conference call. “The significant increase of our profitability across all of the company’s three regional divisions, the still i... |
Carib Cement receives cheque from government for Venezuela exports23 January 2014, Published under Cement NewsThe government of Jamaica has given Carib Cement Co a cheque worth US$1.69m as part payment for the provision of clinker to Venezuela under the Trade Compensation Mechanism of the PetroCaribe Agreement. The initiative will see Jamaica supply Venezuela with some 100,000t of clinker valued at approximately US$8.5m. The clinker shipments began in December 2013 and are expected to continue until May 2014. Jamaica’s Minister of Finance and Public Service, the Hon. Dr Peter Phillips, gave a c... |
Trinidad Cement Ltd 1Q13 boosted by higher sales volumes and prices13 May 2013, Published under Cement NewsFor the first quarter of 2013, Trinidad Cement Ltd recorded EBITDA of JMD114.2m (US$1.16m), reflecting a significant improvement over the first quarter of the previous year and 74 per cent of the total EBITDA achieved throughout 2012. Revenue for the quarter increased by JMD117m compared with the prior year as a result of higher cement sales volumes, the group said in a statement. Volumes were up YoY by 52 and 29 per cent in the markets of Trinidad and Tobago and Jamaica, respectively, w... |
Caribbean Cement workers protest over concerns on domestic declines04 April 2013, Published under Cement NewsUnion members of the Caribbean Cement Company Ltd (CCCL) have staged a demonstration amid concerns on continued declines in the domestic cement market. The one-hour protest took place outside the company’s plant in Rockfort, Jamaica. President of the National Workers Union (NWU), Vincent Morrison, told the Jamaica Observer that the demonstration was triggered by a number of issues, including the failure of the company to address proposals made by workers to arrest declining revenues. ... |
Colombia’s Argos closes 2012 with 25% rise in EBITDA26 February 2013, Published under Cement NewsArgos, Colombia’s largest cement producer, recorded a 25 per cent YoY rise in EBITDA in 2012 and an 82 per cent rise in operating income. The group, which also operates in the Caribbean and US, reported EBITDA of COP791,190m and operating income was COP414,566m. After incorporating the cement and concrete assets acquired in the southeastern US, consolidated revenues reached COP4,380,393m. "We traded in 10.8Mt of cement and 8.5Mm3 of concrete in Colombia, the Caribbean and the United S... |
Antigua cement prices set to rise23 January 2013, Published under Cement NewsCaricement Antigua Ltd is considering a slight price increase on the back of rising production costs, in a move that follows two other hikes announced in the Caribbean this year. Antonio Garrido who heads the company’s Crabbs operations, told local press: “We are talking about between 50 to 75 cents per bag. He said the increase would be merely “symbolic” taking into account the increased cost at the production level. “The cost of cement has gone up for us by US $15 to $20 per metric ton... |
Government to lobby Caricom for reduction in import duties16 January 2013, Published under Cement NewsThe government of Trinidad and Tobago says it plans to lobby the Caribbean Community (CARICOM) grouping for a reduction in import duties following Trinidad Cement Ltd’s (TCL) recently-announced 9.5 per cent price hike. Trade Minister Vasant Bharath, has held talks with the company on whether the hike was based on increased costs of inputs, or due to inefficiencies. In news reports by local media, Bharat said that TCL’s costs include an annual energy cost of US$12m for natural gas, a debt o... |
Trinidad: CCJ dismisses TCL claim15 November 2012, Published under Cement NewsThe Caribbean Court of Justice (CCJ) has dismissed a claim by Trinidad Cement Limited (TCL) against the Caricom Competition Commission accusing them of acting wrongly and giving them 21 days to pay court costs. TCL claimed that the Commission acted wrongly in two main regards: specifically, they said the Commission had not requested its approval to conduct an investigation into TCL's business activities and that the Commission had failed to respect the rights of TCL as an 'interested party'... |
TCL doubles losses, Trinidad09 August 2012, Published under Cement NewsTrinidad Cement Ltd (TCL) has doubled its posted a post-tax loss for the first six months of 2012 compared to the same period of last year. TCL’s loss in the period from January 1 to June 30 amounted to TTD169m, compared with the TTD78.2m loss the company reported for the first six months of 2011. For the first six months of 2012, TCL’s group revenue totalled TTD789m, which was 3.7 per cent more than the revenues reported in 2011, mainly “due to higher pricing as domestic and export... |
Dominican Republic exports increase07 August 2012, Published under Cement NewsThe Dominican Association of Portland Cement Manufacturers (Adocem) said today that so far this year, cement exports to other markets increased by 34.2 per cent over the same period last year. Adocem data shows that from January to June, industry sales abroad were 703,000t while last year they rose to 524,000t. According to the report, the Dominican cement industry annually exports about 35 per cent of its production, which accounts for about US$120m of foreign currency entering the co... |