Caribbean Cement Company Limited (CCC) Signs Agreements to Lease and Purchase with Trinidad Cement Company Disclosure

Posted: May 1, 2018 at 9:39 am

Caribbean Cement Company Limited (CCC)  has advised that on April 27, 2018, it signed with its holding company, Trinidad Cement Limited (TCL), an operating lease agreement and an equipment sale and purchase agreement for the assets that were subject to the lease agreement that was terminated.  CCC states that the consideration to be paid by CCC to TCL to purchase the equipment is approximately US$118 million and is to be fully paid 90 days from the day of signature, in different installments, pursuant to the terms of the equipment sale and purchase agreement. CCC further advised that the equipment being purchased by CCC consists mainly of Kiln 5 and Mill 5  processes at CCC’s Rockfort, Kingston, Jamaica, facilities; and that the lease agreement had been entered into in July 2010. These transaction are being entered into pursuant to the Memorandum of Understanding that had been entered into by TCL and CCC in March  2018.

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