Displaying items by tag: Trinidad & Tobago

Trinindad & Tobago: The Caribbean Court of Justice has ruled against Hard Rock Cement in its challenge against Trinidad & Tobago’s 50% tariff on hydraulic cement. Nation News has reported that the Caribbean Community (CARICOM)’s Council for Trade and Economic Development (COTED) granted Trinidad & Tobago’s application to implement the new tariff in 2020. It remained in force for all of 2021. Cement importer Caribbean Cement challenged both the decision and the conduct of the application process.

Trinidad & Tobago: Current and former employees of Trinidad Cement have held two-day weekly protests since 10 January 2022 outside the company’s Claxton Bay plant in Couva–Tabaquite–Talparo Region. Staff from the past 10 years reportedly say that the company owes them their agreed cost of living allowance, gain shares and backpay.

Trinidad & Tobago: The government has reacted to a 15% rise in the price of cement by increasing imports and delaying an increase in taxes on the commodity. The country’s sole producer, Trinidad Cement (TCL), says that its price rise is set to start on 20 December 2021, according to the Trinidad Express newspaper. It has blamed this on mounting input costs such as gas, spare parts and other materials.

However, the Ministry of Trade and Industry (MTI) told the cement producer that it viewed any price rise as ‘unacceptable’ given that 90% of inputs to production were local. In response the government has doubled the quota for cement imports to 150,000t in 2022 with each individual importer receiving a 50% boost to their own quotas. It has also agreed with the Council for Trade and Economic Development (COTED) of the Caribbean Community (CARICOM) to suspend the Common External Tariff (CET) on hydraulic cement and a planned rise in the duty to 20% for one year to the end of 2022.

TCL’s competitor Rock Hard Cement, a cement importer, ended local operations in August 2021 after losing a court case against the country’s Ministry of Trade and Industry in July 2021.

Trinidad & Tobago: Trinidad Cement has launched production of its new reduced-CO2 cement, called ECO, at its Claxton Bay cement plant. Trinidad & Tobago Government News has reported that the company invested US$73,800 in the development of the product.

Trinidad & Tobago: Barbados-based Rock Hard Cement has ended the operations of its Trinidad & Tobago-based subsidiary Rock Hard Distributors after losing a court case against the country’s Ministry of Trade and Industry in July 2021. The Barbados Today newspaper has reported that chief executive officer Mark Maloney said "Unfortunately, a limit on imports of 75,000t, combined with an import duty of 50%, means that Rock Hard Distributors simply cannot operate in Trinidad." He added, "it is with extreme sadness and disappointment, therefore, that we have closed our business in Trinidad and will now pursue opportunities in other Caribbean countries until such time as we are afforded equal treatment in our home country.”

Grenada: The Caribbean Community (CARICOM) Council for Trade and Economic Development has received an application from Grenada for the legalisation of imports of cement from outside of the CARICOM bloc into the country. Nation News has reported that the country is experiencing a cement shortage because Trinidad & Tobago-based Trinidad Cement has suspended exports. The producer reduced its activities because of the on-going Covid-19 outbreak.

Grenada previously sought to import cement from non-CARICOM member countries in 2004 following Hurricane Ivan.

Trinidad & Tobago: Trinidad Cement says it has no plans to raises its prices at the current time. However, it reserves the right to do so in the future if its production costs change, according the Trinidad Guardian newspaper. The subsidiary of Mexico-based Cemex said that it had suffered ‘significant’ losses due to government coronavirus-related regulations. It has not sold cement to the local market since early May 2021 with the exception of three construction projects due to the request of the government. The cement producer added that its silos and warehouses were fully stocked and that it was ready to start supply when it is given permission to do so.

Cement shortages at retailers has been reported in June 2021. Cement importer Rock Hard Cement announced earlier in the month that it was set to raise its prices in July 2021 due to increasing prices around the world and volatile shipping rates.

Trinidad and Tobago: Rock Hard Cement says it intends to raise the price of its imported cement in July 2021 due to increasing prices around the world and volatile shipping rates. It added that it expected prices to stabilise in 2022, according to the Trinidad Express newspaper. Cement shortages have been reported at retailers in the country. This has been attributed to local manufacturer Trinidad Cement stopping production in early May 2021 dye to government coronavirus-related health regulations.

Trinidad & Tobago: Rock Hard Cement says it will close during January 2021 in Trinidad due to alleged changes in government tariffs on imported cement. It hopes to reopen In February 2021, according to the Trinidad & Tobago Guardian newspaper. The company has published advertisements in local media warning of potential price rises of up to 80% in 2021. As well as changes to import costs the cement importer claims that the quantity of imported cement will be restricted to 75,000t/yr. The Ministry of Trade and Industry said it couldn’t comment on the matter as it is currently undergoing legal proceedings.

Trinidad & Tobago: Trinidad Cement has appointed Francisco Aguilera Mendoza as its chief executive officer (CEO) with effect from 1 December 2020. He succeeds Joe Luis Seijo Gonzalez. Aguilera Mendoza currently serves as deputy chairman and is a member of the board of directors of the company. He will continue in both of these roles.

Seijo Gonzalez has been in post since mid-2015. He will take up a new post with parent company Cemex.