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Caribbean Cement Company increases prices

World Cement,

Price increases announced by Caribbean Cement Company in December 2012 came into effect on 07 January 2012. The increase was, as originally detailed, to the tune of 15.4%. This take in Carib Cement OPC, which will now be sold for J$780/50 kg bag, while Carib Cement Plus will be sold for J$755/50 kg bag.

The company said in its original announcement that the price increases are necessary for the generation of cash flow to meet debt payments. It has reinforced this in its latest statement, saying that the pricing changes were reasonable, and were no more than it needed to stay clear of defaulting on its financial commitments.

However, the company has made provision for those customers who have already paid for their products up to 11 January 2013. Any cement collected after this date, regardless of when it was ordered, will incur the new prices though.

Edited from various sources by Jack Davidson.

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