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Caribbean Cement

Caribbean Cement Company Limited has re-stated that until the completion of its Expansion & Modernization Programme in 2008, the shortfall in cement supply will have to be met by importation.  The Company had long stated that it did not have the productive capacity to supply the domestic market with present plant capacity.

Caribbean Cement Co. Limited has cited the current negligible stock situation of importers and temporary effects of Hurricane Dean on its operations as the main reasons for the current shortfall being experienced in the market. The Company said that while it has an inventory in excess of 25 thousand tonnes, the importers of cement have stocked out.

At a meeting held on Tuesday, September 18, 2007, with the Minister of Industry & Commerce and the cement importers at the Ministry, Caribbean Cement Co. Limited committed to maximizing its production to a target of 75 thousand tonnes per month.

However, this will still not be enough to meet the shortfall which the Company estimates to be between 10 thousand and 15 thousand tonnes per month. The cement importers also committed to imports.

Caribbean Cement Co. Limited has advised that the long term solution to the cement market will be reached on completion of its Expansion & Modernization Programme next year which will result in a supply of approximately 2 million tonnes of cement per year.