Cement News tagged under: Trinidad & Tobago
Cemex amends Trinidad Cement bid10 January 2017, Published under Cement NewsCemex 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 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... |
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... |
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... |
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 workers expected to return to work, Trinidad29 May 2012, Published under Cement NewsTrinidad Cement Ltd (TCL) are expected to return to work after 90 days of strike action, The Trinidad Guardian reports. President general of the Oilfields Workers’ Trade Union (OWTU) Ancel Roget, who addressed workers outside the plant yesterday, said under the Industrial Relations Act workers had to return to work because the legal 90-day strike period had ended. “If any worker is not allowed to return to work the union will view this as continuing industrial action by the company and... |
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... |
Concerns over price hikes, Trinidad & Tobago11 May 2012, Published under Cement NewsThe Trinidad and Tobago Manufacturers' Association has expressed concern of a 19-21 per cent rise in prices. The situation is affecting the TTMA's members and severely hampering the construction industry, Trinidad Express Newspapers reported a spokesperson saying. In a May 2 circular to contractors, TCL announced price increases between 19 and almost 21 per cent on all types of cement, according to local industry players. "The TTMA is aware that the ongoing industrial action at Trin... |