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Financial News

Apr 2009 Financial News

Carib Cement says it is serious about exports

Apr 06, 2009

Caribbean Cement Company Limited has said that its shipment of 5,500 tonnes of bulk cement to TCL Trading last week is indicative of the manufacturer's seriousness to grow its export capability.

On Saturday, March 28, cement was transported on a vessel leased by TCL Trading for that company to recieve two shipments each month from Carib Cement. Initially, cement will be shipped to markets in Haiti and
South America.

Said Carib Cement in a release: "The Company is serious about developing its export portfolio and has successfully sent off its first shipment of 5,500 tonnes of bulk cement to TCL Trading on Saturday. Carib Cement is developing export markets partly in preparation for its surplus production on completion of its new state of the art cement mill by the end of June."

Carib Cement is allocating in excess of J$10 billion in an Expansion and Modernisation Programme, a significant investment to expand its manufacturing capability, upgrade its technology, increase its efficiencies, and to improve its environmental performance.

Last August, the company launched its US$125 million clinker manufacturing line, Kiln 5.

The company says that, "The successful commissioning of this kiln has already positively impacted the Company's cost profile. So much so that Carib Cement was able to reduce its prices to customers outside of Kingston in February."

The cement manufacturer adds that it is aggressively seeking to improve its employees' job security and "redundancy is not a part of the Carib Cement vocabulary".


Source:
Jamaica Observer
Monday, April 06, 2009

http://www.jamaicaobserver.com/magazines/Business/html/20090406T030000-0500_148942_OBS_CARIB_CEMENT_SAYS_IT_IS_SERIOUS_ABOUT_EXPORTS.asp