Displaying items by tag: Barbados
Arawak Cement to introduce breath test for workers
12 March 2019Barbados: Arawak Cement plans to introduce alcohol breath tests for all of its workers in late March 2019. Previously the cement producer had been conducting random tests, according to the Barbados Today newspaper. The introduction date for the breath test has been delayed following negotiations with the Barbados Workers Union. Multiple breaches of the company’s alcohol rules could lead to drug treatment, counselling or discipline. The cement producer says it has introduced the alcohol testing on health and safety grounds.
Cement import tariff upheld by Caribbean Court Of Justice
26 December 2018Barbados: The Caribbean Court Of Justice has ruled in favour of Trinidad Cement on maintaining a 60% tariff on imports of cement. The subsidiary of Mexico’s Cemex and its own subsidiary Arawak Cement complained that import company Rock Hard Cement was only being taxed by 5%, according to the Nation News newspaper. However, the case will continue as the ruling only refers to hydraulic cement. It is unclear what classification of cement that Rock Hard Cement is importing.
Barbados: Trinidad Cement and its Barbadian subsidiary Arawak Cement have taken legal action against the Government of Barbados over allegedly breaking the Caribbean Community Single Market and Economy. The complaint relates to accusations that the country broke import duties on cement, according to Barbados Today. The government has been accused of reducing import tariffs to 5% from 60%.
Arawak Cement and competitor Rock Hard Cement have battled for the local market since the entry of the latter company in the market in 2015. Trinidad Cement has also taken action against Turkish cement importers previously.
Arawak Cement to reduce workforce
20 October 2016Barbados: Arawak Cement has formally offered its staff voluntary separation packages as part of its financial and operational restructuring programme that started in October 2015. In September 2016 the company said that it would offer voluntary separation packages because the first phase of the restructuring had not yielded the results necessary to attain profitability and competitiveness, according to the Barbados Today newspaper. It blamed this on ‘unfavourable’ economic conditions, significant excess cement capacity in the region and highly competitive price sensitive markets. It also cited energy and labour costs as a factor in its decision.
Rock Hard Cement and Arawak Cement spar in Barbados
18 August 2016Barbados: Rock Hard Cement, a cement distributor, and local producer Arawak Cement have been arguing publicly over the quality of their respective products. Arawak Cement took out a paid advertisement advised customers in Barbados, Guyana and the Eastern Caribbean that an unnamed rival company’s product was not ‘not of a higher quality, or strength and is not a superior product’ than its own products, according to the Barbados Today newspaper. The cement producer said it has also made a complaint with the Fair Trading Commission regarding alleged misleading claims that Rock Hard Cement has made about its products.
In response Mark Maloney, chief executive of Rock Hard Cement, has accused Arawak Cement of attempting to stop the newcomer entering the local market since November 2015. Since the entry of Rock Hard Cement into the market the price of cement has dropped by 30%. Arawak Cement has attributed this to a restructuring programme and improved plant efficient. Maloney has also accused his rival of trying to register the Rock Hard name outside of Barbados to deter future expansion.
Arawak Cement reaches record exports in June 2016
28 July 2016Barbados: Arawak Cement has recorded its highest exports in three years when it exported 20,000t of cement in June 2016. The figure contributed a 27% year-on-year increase in exports to 90,000t for the first half of 2016, according to the Nation News newspaper. The cement producer said that the boost in export sales was due to improvements to its jetty and dust emissions control systems at its St Lucy plant. The changes have allowed it to improve its cement loading rates and receive larger ships.
Barbados government wants reduction in tariff on cement
13 November 2015Barbados: The Barbados government has said that it stands by its decision to lower the 60% tariff rate on cement to protect Arawak Cement Limited (ACL), a subsidiary of Trinidad Cement Limited (TCL).
Commerce Minister Donville Inniss explained the rationale behind the government's decision, as both companies have expressed concerns over the decision to lower the tariff. Inniss said that the intent was not to cause any harm, but to help drive efficiencies in the system and to ensure consumers got a better price on the much-needed raw material. "We have our differences on the methodologies employed and the policies being pursued, but at the end of the day, we want to ensure that ACL remains a viable entity in Barbados," said Inniss.
Inniss said that he was supportive of the company's restructuring plans, as well as its efforts to bring its prices down, praising the company's commitment to increasing exports of Portland grey cement from Barbados. Earlier this week, ACL's Manager Rupert Greene said the company would announce the number of workers to be made redundant as part of the restructuring programme by the weekend. Greene said that at least 40 workers would be sent home and that discussions are continuing with the Barbados Workers Union (BWU) and the National Union of Public Workers (NUPW). Greene said that with a 65% drop in the Barbados market demand for cement over a 10-year period, there was a need to 'restore some balance to the equation.'
Arawak Cement plant troubled by cocaine smuggler
17 June 2015Barbados: According to Barbados Today, Ryon Marlon George has been sentenced to seven years in prison by chief magistrate Pamela Beckles after pleading guilty to seven drug charges involving 19.6kg of cocaine in the Oistins Magistrates' Court. The contraband, worth almost US$1m, was found on the MV Fairland cargo ship.
George admitted importing, intent to supply, possession and trafficking cocaine on 22 January 2015 at the Arawak cement plant. Station sergeant Rudolph Burnett outlined how the ship arrived in the Bridgetown Port on 15 January 2015, before making its way to the Arawak cement plant to collect a consignment of cement. The ship, on which George worked as an oiler, was Guyana-bound. Acting on a tip-off, police carried out an operation at the Arawak cement plant on 22 January 2015. Police boarded, searched and found a haversack with seven packages of cocaine hidden inside a garbage bin.
George admitted travelling from Guyana to Barbados with two bags on cocaine hidden on the ship, which he intended to hand over to unknown men. He also told police he had put one of the bags on the pier in a bin and later directed the lawmen to a hole in the ship where he had another bag hidden. That bag contained 10 packages of cocaine.
Barbados: Some 18 major shareholders of Trinidad Cement Limited's (TCL) Arawak cement plant are manoeuvring to force out the current board of directors and install its own directors.
The shareholders pushing to get rid of the board include Republic Bank Limited, the Trinidad National Insurance Board, Trinidad and Tobago Unit Trust and a Barbados' Bourne Investment Inc. Holding 54.7% of the shares of TCL, the aggrieved shareholders are not happy with the way TCL has been managed in recent years.
The Caribbean's only cement producer has faced deep financial problems, despite the favourable competitive position it holds in most Caribbean Community Secretariat (CARICOM) countries. In Barbados the Arawak cement plant is the sole cement provider. TCL also operates Caribbean Cement Ltd in Jamaica, while its biggest operation is in Trinidad and Tobago.
The board members that the upset shareholders want removed include TCL's CEO Rollin Bertrand, who once ran the Arawak Plant, Leonard Nurse, Andy Bhajan, Bevon Francis and Brian Young. In addition to seeking a compulsory meeting of the shareholders of TCL to remove the board forthwith, the group provided their own list of directors to immediately take control of TCL until the close of the first annual meeting following their election.
TCL on the up: trend set to improve
19 June 2013Trinidad & Tobago: For the first quarter of 2013, Trinidad Cement (TCL) recorded earnings before interest, tax, depreciation and amortisation (EBITDA) of US$17.8m. The result represented a significant improvement over TCL's results for the same period of 2012. The first quarter 2013 EBITDA represents 74% of its EBITDA for the whole of 2012.
Revenue for the quarter increased by US$18.3m compared with the same period of 2012 as a result of higher cement sales volumes. Volumes increased by 52% in Trinidad & Tobago, by 7% in Jamaica and by 29% in export markets. It was helped by higher selling prices in most markets.
TCL said that, as a result of the significant expenditure made in the latter part of 2012, plant performance has been more reliable and efficient, with clinker production exceeding prior year by 32%. Part of this is due to a prolonged TCL strike in 2012. Cement production was up by 21% year-on-year.
As a consequence of the above factors, TCL has reported a net profit after tax for the first quarter of 2013 of US$$2.22m compared with a net loss of US$11.7m in the same quarter of 2012.
Looking ahead the company says that the Trinidad & Tobago market has recorded very strong demand and it is anticipated that this will continue. While it saw a declining demand trend in Jamaica and Barbados, it is hoped that growth will return to these markets following elections in Barbados and the conclusion of an IMF agreement in Jamaica. In addition, TCL said that the growth being experienced in Guyana and Suriname and the initiatives by the group in the pursuit of additional export markets, plant efficiency and cost containment, are likely to contribute to the continuation of its good results for the coming months.