Record production at Caribbean Cement in 2020 11 January 2021
Caribbean Cement Company (TCL/Cemex group) says it reached a new record in 2020 by manufacturing more than 940,000t of cement in response to market demand in Jamaica. The market responded opposite to what might have been expected given the pandemic. Instead of slowing down, construction grew, and we kept in step with our customers by meeting their demand consistently. We will continue to ramp up production as the market grows, said Yago Castro, general manager of Caribbean Cement Ltd (CCL).
CCL has invested more than JMD22bn (US$154.6m) in new equipment, upgrades, and maintenance between 2015 and 2019. As a result, the Rockfort-based plant has become more modern, efficient, and safe, the company said.
Caribbean Cement Company (Cairb Cement) says it reached a new record in 2020 by manufacturing more than 940,000 metric tonnes of cement in response to market demand.
“The market responded opposite to what might have been expected given the pandemic. Instead of slowing down, construction grew, and we kept in step with our customers by meeting their demand consistently. We will continue to ramp up production as the market grows,” said Yago Castro, General Manager of Caribbean Cement Limited.
Castro attributed this performance to capital investment, government policies, management of the pandemic and the expertise of Carib Cement s employees.
Yago Castro, General Manager of Caribbean Cement Limited
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.
Mark Hart, chairman of Cargo Handlers Limited.
Cargo Handlers Limited, CHL, has spent $100 million to acquire 30 per cent stake in Buying House Cement Limited, a cement importer based in Montego Bay that mostly supplies western Jamaica.
Domicem, a company based in Dominican Republic, will continue to own 70 per cent of Buying House.
The cement importer, according to CHL Chairman Mark Hart, holds about 10 per cent of the local cement market that is dominated by Caribbean Cement Company Limited as the only local manufacturer of the commodity. Caribbean Cement, which is also foreign owned by Cemex of Mexico, distributes under Carib Cement brand.