Cargo Handlers Ltd (CHL) anticipates growth in 2024 arising from roadworks and the hotel boom in Montego Bay, St James. The revenue and profit at CHL, which operates a major wharf in the city, already hit record levels for its September 2023 year.
BUYING House Limited, the St James-based distributor of cement, said the recent expansion of production by its parent company Domicem SA will put it in a better position to meet demand in the loca.
Cargo Handlers acquires 30% stake in Jamaican cement importer 21 December 2020
Cargo Handlers Ltd has acquired a 30 per cent stake in Buying House Cement Ltd, a cement importer based in Montego Bay that mostly supplies western Jamaica.
Dominican Republic-based Domicem will continue to own 70 per cent of Buying House. According to CHL Chairman Mark Hart, the cement importer holds about 10 per cent of the local cement market that is dominated by Caribbean Cement Co.
Mr Hart said the deal for the Buying House stake was recently completed and will take effect on 1 January 2021. CHL, which operates wharfing and stevedoring services in Montego Bay, bought the stake held by American company International Materials, or IMI, which decided to exit the business.