Aug 2019 Financial News

Trinidad Cement Limited - Notice of the Decision of the Caribbean Court of Justice

Aug 12, 2019

Trinidad Cement Limited ("TCL") hereby advises that on August 6, 2019, the final judgment was delivered by the Caribbean Court of Justice ("CCJ") in the consolidated matters of TTOJ 2018/001 Trinidad Cement Limited vs. The State of Trinidad and Tobago; TTOJ 2018/002 Trinidad Cement Limited and Arawak Cement Company Limited vs. The State of Barbados; SLUOJ2018/001 Rock Hard Distribution Limited vs. The State of Trinidad and Tobago and The Caribbean Community; and BBOJ20l8/001 Rock Hard Cement Limited vs. The State of Barbados and The Caribbean Community, in relation to the question of whether Rock Hard Cement imported from Turkey and Portugal is to be classified as "Building cement (grey)'' thereby attracting a tariff of 15% or as "Other hydraulic cement" on which a tariff of 0-5% is payable.