Apr 2017 Financial News

Carib Cement given go-ahead to import from Trinidad

Apr 11, 2017

KINGSTON, Jamaica (CMC) — The Jamaica Government has given Caribbean Cement Company (Carib Cement) the green light to import cement from Trinidad and Tobago in a bid to ease a shortage of the product here.

“They indicated that they wish to take measures to alleviate a shortfall due to repair work in their bagging department, and I’ve given them permission to import from Trinidad and Tobago enough cement that will carry them over this period of repair,” said Commerce Minister Karl Samuda.

Samuda said he held talks with Carib Cement, the local manufacturer of cement, last week on the shortage.

Last weekend, the company said it was aware of the supply challenges within the retail market noting that “the gaps in retail trade have resulted from challenges in the packaging operations which are being rectified.

“In an effort to immediately address the issues in the local retail market, Carib Cement has already implemented investments, initiatives and activities to address the issues within the retail market.

“To this end, Carib Cement has suspended all exports to fully dedicate and prioritise the local market. The company is pleased that major development projects have remained on course, and clearly understands the critical importance of the construction industry to ongoing development and growth,” the company said in a statement.

Last September, the company blamed an overhaul of the kiln and one of its cement mills for a limited availability of the commodity on the local market.

Source:
Jamaica Observer
Tuesday April 11, 2017    

http://www.jamaicaobserver.com/news/Carib-Cement-given-go-ahead-to-import-from-Trinidad_95260