Apr 2025 Financial News

Trinidad Cement Limited - Notice of Change in Operating Model of Arawak Cement Company Limited

Apr 23, 2025

NOICE
CHANGE IN ARAWAK CEMENT COMPANY LIMITED'S OPERATING MODEL

Trinidad Cement Limited ("TCL" or "the Company") hereby advises that by resolution dated April 15, 2025, its Board of Directors unanimously passed a shareholders' resolution authorising further modification of the operating model of Arawak Cement Company Limited ("ACCL"), a subsidiary of TCL, incorporated in the Republic of Barbados.

In 2023, ACCL converted its core operation from the production of clinker, to grinding and the bagging of cement. To stay viable, from May 1, 2025, ACCL will now transition from a clinker grinding facility, and focus on the distribution of cement to the Barbados Market.

Following consultations with ACCL's representative trade unions, it was agreed that the organisational structure would be adjusted. Key positions will be maintained, and new roles created, allowing suitable and available employees an opportunity to apply for positions under the modified structure.

This Notice is published pursuant to Section 64(1)(b) of the Trinidad and Tobago Securities Act, 2012.


Source:
The Trinidad and Tobago Stock Exchange Limited
Wednesday 23rd April 2025