Caribbean Cement's parent company Trinidad Cement Limited (TCL) is facing criticism in Trinidad following its announcement of another price increase.
Gerry Brooks, chief operating officer of Trinidadian conglomerate ANSA McAL, said the company cannot keep raising prices annually
Mr. Brooks says what the company needs is a restructuring and business plan.
According to Mr. Brooks, TCL must tackle two of its most pressing problems: debt and material cost.
Increasing cement prices, he said, will lead to rising raw material cost for the construction sector.
On January 8, TCL announced it would be raising prices by 9.5 per cent.
The company said it was unable to further absorb escalating prices in operating costs, specifically in the areas of energy, packaging and spares, in spite of improved operational efficiencies.
TCL previously raised prices in August.
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