Displaying items by tag: Jamaica

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.”

Jamaica: Caribbean Cement Company has confirmed a shortage of cement due to increased demand following the impact of Hurricane Beryl. Despite concerns about its effect on the construction sector, former president of the Incorporated Masterbuilders Association of Jamaica Lenworth Kelly, says the lack of supply is typical for the local market and not a cause for concern, expecting a return to normality within a week, according to Radio Jamaica News. Caribbean Cement Company has stated that it has a supply of cement in storage for the period during its scheduled maintenance.  

Kelly said "It's just a matter of when supply gets back to you. And I know the supply is back up, but it has to get to every little town, every little location. I know the bulk suppliers would be receiving now, but I'm not expecting any significant contribution to a decline, as it were. We had a significant spike, and so we would expect some trending down."

Jamaica: Caribbean Cement has recorded a profit of US$15m for the end of its second quarter, a year-on-year increase of 9% from the US$13.8m in the same period in 2023. Six-month earnings reached US$27m. Revenue also rose by 3% to US$49.2m. The company will undertake its annual maintenance in the current July – September quarter and expects fluctuating demand due to prevailing weather conditions. The company is continuing its expansion programme to boost production capacity by up to 30% and reduce its carbon footprint.

Jamaica: Caribbean Cement's US$40m expansion project is set to complete by the first quarter of 2025, boosting cement production by 30%. Managing director Jorge Martinez confirmed the progress during a factory tour hosted by the Jamaica Manufacturers and Exporters Association (JMEA), according to RJR News.

Jamaica: Caribbean Cement is allocating US$8m, 20% of its planned US$40m investment in 2024, to increase sustainability efforts at its Rockfort plant. The company is aiming to become net-zero by increasing its use of alternative fuels and repurposing materials like tyres, which will also help to save on operational expenses and fuel costs, according to the company.

The repurposing of tyres, which commenced following a Government of Jamaica partnership, will remove a ‘significant’ portion of the estimated 1.5m tyres at the country’s Riverton dump, along with other materials such as pallets, which Caribbean Cement now uses as alternative fuel sources in the cement manufacturing process. With the help of its XRC3000c shredder obtained from Austria-based company UNTHA, Caribbean Cement said it has shredded more than 9000 tyres to date.

Managing director Jorge Martínez said “At the moment our first goal for the end of 2024 is to at least reach 10% alternative fuels. We will remove some of those fuels that are not renewable, substituting it with ones that are. This is part of our future in action programme. Some of these actions are also related to the reuse of some materials in the plant as we take waste materials from other industries and beach clean-ups for repurposing. We try to reuse them in any way we can.”

Jamaica: Caribbean Cement Company's first phase of its expansion project is set for completion in 2025. The expansion will increase cement production by 30%.

Managing director Jorge Martinez said "When completed, this project will further reduce our CO₂ emissions and deliver increased output from 2600 to 2850t/day of clinker to meet the increased local demand for cement. We will also have the capacity to explore options for exporting to other countries within the Caribbean community. These exports will benefit Jamaica’s economy through foreign currency income."

The US$40m plant expansion in Rockfort, Kingston is financed by the company, with 150 workers already on the project. The expansion was announced in 2022 and aims to strengthen Jamaica's cement industry, reduce import reliance and support the regional construction sector. It will also support parent company Cemex's sustainability targets, including CO₂ emission reduction and optimisation of heat consumption in cement production, as part of its Future in Action programme.

Jamaica: Caribbean Cement has appointed Jorge Alejandro Martinez Mora as its managing director with effect from 1 December 2023. He succeeds Yago Castro Izaguirre in the post. Castro Izaguirre has been the head of Caribbean Cement since late 2020. He will take up another role in Cemex Group.

Martinez Mora is a civil engineer with knowledge and experience in commercial, corporate and operational fields. He has worked for Cemex and its subsidiaries since 2004 and, most recently, held the position of Builders Segment Regional Director for the Cemex Group's Central Region in Mexico, based in Mexico City.

Jamaica: Caribbean Cement recorded US$137m in sales during the first nine months of 2023, up by 8% from US$127m during the corresponding period in 2022. The company’s cost of sales grew by 18% year-on-year to US$82.3m from US$69.8m. This resulted in a net income of US$28.3m, up by 3.2% from US$27.4m.