Carib Cement sees record production in MarchSaturday, April 17, 2021
Carib Cement Limited, in what it has dubbed another milestone achievement, said that in March it manufactured more than 100,000 metric tons of cement — the highest monthly production in recent history.
“While we have been making investments to improve our performance, a key component in this result is the human factor. This is really a mark of the commitment of our people who have been working consistently to keep our plant operating optimally, and best of all, we have achieved this safely, without any lost time injuries,” said Carib Cement Managing Director Yago Castro.
Operated by global building materials company Cemex, Carib Cement is the sole manufacturer of cement locally. Last year the company witnessed other record performances when it increased annual production to almost one million tons, doubled profits to $3.2 billion and watched revenues climb to $20 million.
The company, which hopes to continue its positive growth performance into this year, further said it was looking to exceed current production and maximise capacity, banking on increased demands for its products as several new development and housing projects come on stream and as the construction and building industry expands even amid the ongoing novel coronavirus pandemic.
Recently, the company announced it would invest billions annually in capital expenditure, adding that it was intent on ensuring its ability to supply rising demand.
“The trend for this quarter is of a higher average than that of the past 10 years and is in response to domestic market demand. Round the clock, the cadre of highly skilled employees maintain equipment, conduct quality checks and keep a close eye on all aspects of the operation to quickly resolve issues and shorten down time. Investments in the business over the past five years have begun to yield favourable results,” the company said in a news release this week.
As a major contributor to the Jamaican economy, Carib Cement currently has its operations serviced by 450 local suppliers with about 70 per cent of its purchases for product material done locally. Over the last five years, the company said it has paid $49.5 million in taxes to the Government.
“While Cemex has devoted a lot of resources to Jamaica, Carib Cement's results are really a Jamaican success story. The Government's policies and the passion of the employees ensure that the dreams, hopes and development plans of the Jamaican people and institutions are realised,” Castro said.
Now you can read the Jamaica Observer ePaper anytime, anywhere. The Jamaica Observer ePaper is available to you at home or at work, and is the same edition as the printed copy available at https://bit.ly/epaper-login