Nov 2015 Financial News

Tank-Weld, Carib Cement confirm distribution deal

Nov 23, 2015

KINGSTON, Jamaica – Caribbean Cement Company Limited and Tank-Weld Metals confirmed on Monday that the two companies have come to an agreement for Tank-Weld Metals to distribute locally produced Carib Cement to the Jamaican market.

The companies, in a joint media release said that while the agreement is aimed at maximising the resources of both companies, it will also "enhance efficiencies, create local jobs, and be beneficial to customers, the travelling public, and the environment."

The value of the deal was not shared. It is estimated, however, that through this partnership, CCC now has near 100 per cent of the local market for cement.

The release further said that in order to enhance efficiencies in a logistics-driven economy, both companies have identified an opportunity to pioneer domestic maritime transport of a locally manufactured product.

Carib Cement will be transported by sea from the CCCL Rockfort Pier to the TW Metals Rio Bueno Port in Trelawny for further distribution to the northern-based construction market using Tank-Weld's vast distribution capabilities and strong customer service.

The companies say the agreement will "have social and environmental benefits as the use of maritime freight will see less wear and tear on the roads, less frustration for the travelling public, and less pollution in the air, through the reduction in traversing across the island by road of bulky and heavy cargo."

The companies also believe that this agreement will "benefit the Jamaican consumer as well as the local economy as it increases the domestic production of cement, therefore yielding greater production efficiencies, increasing use of assets, boosting the local market, and using more indigenous resources".

Source:
Avia Collinder
Jamaica Observer
Monday November 23, 2015

http://www.jamaicaobserver.com/business/Tank-Weld--Carib-Cement-confirm-distribution-deal