Caribbean Cement Company's Rockfort plant in Kingston
The Rockfort-based Caribbean Cement Company says it plans to export 28,000 tonnes of cement to Caribbean markets, starting next month.
It follows the recent completion of its US$42 million expansion plan.
Managing Director Jorge Martinez said the plan will see a 150,000 tonne expansion in production to 1.15 million tonnes annually.
He added that the company generated revenues of $27.9 billion last year, despite the fall in annual output to 950,000 metric tonnes due to the plant shutdown.
The company also indicated that it generated net profits of $2 billion on revenues of $8.2 billion during the first quarter of this year, compared with $1.9 billion on revenues of $7.6 billion for the comparative period last year.
Carib Cement's net worth, or the difference between its assets and liabilities, also climbed to $30 billion from $26 billion during the first quarter of last year.
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