The Chairman of Trinidad Cement Ltd (TCL), Satnarine Bachew, has informed local press that the company is looking to expand the sale of their oilwell cement to overseas markets, according to reports in The Trinidad Guardian. TCL has been producing oilwell cement for the domestic market for a number of years, and counts Halliburton among its customers.
Satnarine Bachew announced the expansion plans at an event marking TCL’s 60th anniversary. Whilst there, he also said that the company plans to expand its presence in the cement markets of Central America.
In January – September 2013, TCL Group’s EBITDA grew by 191% y/y to US$346.6 million and revenue increased by 23% y/y. In the first nine months of 2013, the Group’s production of cement and clinker rose by 19% y/y and 15% y/y, respectively.
Edited from various sources by Louise Fordham