Caribbean Cement Company expands into the Dominican Republic market

(Jamaica/The Dominican Republic)  —  Jamaica based Caribbean Cement Company Limited (CCC) has shipped its first batch of 2500 tons of cement to the Dominican Republic.

The export to Dominican Republic is part of the company’s strategy to further expand its markets in the region. Caribbean Cement Company has been exporting cement to Haiti since 2008.

Earlier, there were reports that the company was planning to set up warehouse space as well as a distribution and packaging unit in Haiti. The company has also completed the upgradation and modernization of the US$170 million Rockfort, Kingston plant that boosted its capacity to 1 million tpa of cement.

Anthony Haynes, CCC’s general manager has indicated that the boosted capacity of the company has created an urgent need to find new markets outside of Jamaica.

The Dominican Republic, which is estimated to have a consumption of 3 million tpa of cement, is considered to be among the most lucrative in the region and the CCC’s intends to gain 10% of that market.

Haynes said that the Dominican Republic has been a target market for the CCC given the “very attractive prices and [it being] only two shipping days away from Jamaica.”

The company exported 192 500 tons of cement last year, double the amount shipped in 2009. The expansion into the Dominican Republic will increase its exports by 78%.

“We can see ourselves easily putting in 100 000 t into the Dominican Republic per year for a start,” said Haynes, adding, “I think very soon we should be doing 8 – 10 000 tpm. This market is the real game-changer.”

The CCC has partnered with Docemca, a local company, to sell its products.

“We sell FOB (freight on board), so the risk passes to them,” Haynes explained, “they own the ships and have the logistical capabilities in Dominican Republic and also in Haiti.”

“Haiti is a very volatile market, but we have a very good understanding of that country, and it is part of a long-term strategic goal,” Haynes concluded, “[Although] that goal can change if the donor countries that promised some US$16 billion in aid following the earthquake (in January 2010) do not provide the money, but we intend to be there.”

By: Rashmi Kalia (ARI-C NEWS)

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