Trinidad Cement Limited (TCL) Reports Decline in Barbados Cement Sales Market in Annual Report

TRINIDAD CEMENT LIMITED (TCL) says the Barbados market for cement sales declined last year.

This is stated in the annual report of the group which owns St. Lucybased Arawak Cement Company Limited (ACCL).

TCL managing director Francisco Aguilera Mendoza said: “In Barbados, the overall market declined by 14.3 per cent of which Arawak Cement Company Limited experienced a decline of 8.8 per cent in domestic cement volumes versus 2022. Despite this, we were able to capture an increased share of sales of 3.9 per cent.”

He noted that “Trinidad and Tobago’s cement export volume fell by almost 11 per cent when compared to 2022 due to supply chain constraints and an increase in the local market demand”.

“This drop in cement exports was almost fully compensated by our clinker exports to Barbados that started last year after Arawak Cement’s change in its operating model,” the TCL boss explained.

Mendoza reminded that Arawak’s operations were restructured last year.

“During 2022, the Group committed to a plan to

restructure the cement manufacturing operation of a subsidiary in Barbados due to the persistently rising costs and increased competition in ACCL’s primary markets. The restructuring occurred during 2023,” he stated.

“In Barbados, we are confident that the current operating model will allow us to maintain market share and achieve profitability. The group is also exploring options to develop new businesses and diversify its portfolio.”

Mendoza said that in Barbados “We are now extending our producer responsibility by exploring the opportunity of Concrete Demolition and Excavation Waste management at one of our quarries”.

“In this way, we can close the gap on the impact of concrete waste and potentially, in the future, valorise this waste through circularity,” he explained. (SC)