Displaying items by tag: Jamaica

Jamaica: Caribbean Cement Company expects to increase output by 0.15Mt in 2026, according to the Jamaican Gleaner newspaper. Managing director Jorge Martinez said that only one month into the US$42m upgrade at the company’s Rockfort plant in Kingston, daily clinker production had already exceeded expectations. The upgrade targeted a rise in production capacity from 1Mt/yr to 1.3Mt/yr. The company also plans to export 28,000t of cement to Caribbean markets from August 2025, subject to demand. Martinez said the company sees no need to import cement currently.

Production fell in 2024 due to a two-month kiln shutdown for installation works, with domestic sales dropping to 0.95Mt from 1Mt.

Jamaica: TCL Group subsidiary Caribbean Cement has commissioned its US$42m debottlenecking project at its Rockfort plant in East Kingston. The capacity of the expanded kiln was not disclosed.

During a ribbon cutting ceremony, Prime Minister of Jamaica Andrew Holness said “When we invest in our factories, we invest in our families. When we strengthen our production capacity, we strengthen our national development. This project does more than support housing. It supports jobs. The expanded kiln will enable higher throughput, greater efficiencies, and potentially more stable employment for hundreds of workers.’

He added “Instead of importing, we will be exporting. Instead of consuming value-added goods, we will be producing them. This is the shift from dependency to self-determination.”

Minister of Industry, Investment and Commerce Aubyn Hill said “Everywhere you go, cement is being used, and Caribbean Cement is doing a great job! We want every bag of cement used in Jamaica to be made here because, for every bag that we import, we send jobs overseas. Our job in Jamaica is to keep jobs here.”

Jamaica: Caribbean Cement Company achieved a net profit of US$37.7m in 2024, a 6.7% year-on-year increase from 2023. It reported this despite disruptions caused by Hurricane Beryl and other adverse weather conditions that affected production. The company's revenues rose by 2.3% to US$180m, driven by strong market demand.

Jamaica: Caribbean Cement Company (CCC) recorded a net profit of US$37.6m in 2024, slightly up from the previous year, according to Loop News. Hurricane Beryl reportedly caused some disruptions in the second half of the year, but rising construction demand drove a 2% rise in revenues to US$178m.

Looking ahead, CCC remans optimistic about its growth, citing further opportunities from private sector projects, government infrastructure initiatives and Jamaica’s expanding hospitality industry.

Jamaica: Caribbean Cement Company has reached a milestone in its kiln expansion project with the installation of a 160t-capacity surge bin and solid fuel equipment.

The development ensures a stable and increased fuel supply to the kiln during cement production, according to Loop News.

Jorge Martinez, managing director of Caribbean Cement, said “The successful installation marks a significant step forward in enhancing our production capabilities. This investment is a main milestone of the expansion project to be completed in the first half of 2025 with the aim of increasing the efficiency and stability of our operations. It also demonstrates our commitment to meeting the local demand for cement.”

Jamaica: Caribbean Cement has reported a decline in its September 2024 quarter sales by 11% year-on-year, falling to US$37.2m. Third quarter operating earnings dropped by 76% to US$3.6m, largely due to Hurricane Beryl impacting sales and production, alongside increased costs from a scheduled plant maintenance. Earnings before taxation for the third quarter also saw a 69% decline to US$4.8m, and net income dropped by 66% to US$4.2m. ​

From January – September 2024, however, revenue slightly rose by 1% to US$129m. Operating earnings for the nine-month period reached US$36m, up by 4.3% year-on-year. Earnings before taxation for the nine months grew by 11% year-on-year to US$37.2m, while consolidated net income was US$30m, a 12% increase year-on-year.

Jamaica: Caribbean Cement Company Limited (CCCL) says it continues to focus on improving its cement inventories and deliveries to the local market, amid disruption in September and early October 2024.

The company stated that further measures have been implemented to enhance inventory deliveries to its island-wide depots. It stated that it was currently operating at full production capacity and had successfully addressed various operational challenges, including those caused by adverse weather conditions relating to Hurricane Milton, which recently affected the region.

“Our valued customers and the public can expect further improvements in cement delivery over the coming week,” said the company. “CCCL remains committed to better serving its customers and enhancing services to ensure a reliable local supply of products.” The company added that it sincerely appreciated the ‘patience and understanding’ of all of its customers.

Jamaica: Senator Aubyn Hill, minister of industry and commerce, has reported an 8% month-on-month decline in cement production from January to August 2024, citing scheduled maintenance at Caribbean Cement Company as a partial cause. The maintenance took place from 12 August to 3 September 2024. Alongside the production drop, there was also a decrease in total domestic sales during the same period. Senator Hill has urged cement importers to utilise quotas issued by his Ministry to mitigate the industry shortfall.

Jamaica: Caribbean Cement Company has returned to full production following the completion of its annual maintenance programme, reports Radio Jamaica News. The company was experiencing challenges meeting the demand for cement in the country due to the scheduled annual maintenance of its kiln. However, Caribbean Cement says that since production restarted, it has produced over 4000t/day through its 24-hour operation.

Jamaica: Caribbean Cement Company (CCC) is addressing concerns that have arisen due to a shortage of cement in the market, which has reportedly led to hardware stores rationing supplies, according to the Jamaica Observer. The government has been called on to address the problem, reportedly affecting more than 150,000 people employed in the construction industry.

A spokesperson for CCC said “Caribbean Cement Company has successfully completed the scheduled annual maintenance of its kiln, and we are aware that some customers are experiencing delays in obtaining cement. Prior to the maintenance, the company held sufficient inventories to meet market needs. However, the passage of Hurricane Beryl and the company’s subsequent response to ongoing relief efforts resulted in faster consumption of these initial inventories. We recognise the importance of our operations to the construction industry and are working diligently to replenish inventories as quickly as possible for our valued customers. We anticipate a return to normal inventory levels during the coming days.”