Caribbean Cement Company Limited has suffered a setback in the commissioning of its new state of the art mill. A large material storage bin collapsed last night while being filled. The Company is relieved that no one was injured in this accident. At this time the site has been cordoned off and work suspended.
An independent investigation into why this happened is being conducted to ascertain the cause of failure and to prevent a recurrence. Carib Cement expects to have a full understanding by early next week and will be in a better position then, to say when repairs will be completed and the mill commissioned. Already, the Company is preparing for ordering replacement parts.
Marketing Manager, Alice Hyde has assured that there is adequate cement in the market for all of Carib Cement’s customers. There will be no interruption to the supply by Carib Cement. Silos and warehouses are full and the operational plant was not affected by this accident.
Last week, Carib Cement had to discount prices in an effort to reduce its inventory of finished products. On several occasions the Company has had to stop its mill due to full silos and warehouses. Despite exporting more than 38,000 tonnes of cement this year and 96,004 tonnes of clinker since the new kiln started, the soft market plus unfair competition from dumped cement have eroded the Company’s market share.
As soon as the new mill is up and running, Carib Cement will share the benefits of the increased efficiencies of this more modern plant with its customers. The Company plans to pass on the savings gained to its customers. Carib Cement has previously rolled back prices resulting from increasing efficiencies as in February of this year when the Company made all its products throughout Jamaica available at the same price.
