Ponce new GM for Caribbean Ce­ment

Jamaica Gleaner - - BUSINESS - Steven.jack­son@glean­erjm.com

CARIBBEAN CE­MENT Com­pany Lim­ited will have a new boss come Mon­day, Novem­ber 7, when Pe­ter Donker­sloot Ponce will re­place Ale­jan­dro Vares Leal as gen­eral man­ager.

Vares Leal is leav­ing to take up a new pro­mo­tion within Ce­mex Mex­ico as vice-pres­i­dent of in­fra­struc­ture and govern­ment sales. He ran the Rock­fort, Kingston-based Caribbean Ce­ment plant for more than a year since May 2015.

Ce­mex is the top share­holder in Caribbean Ce­ment Com­pany’s par­ent, Trinidad Ce­ment Lim­ited.

Donker­sloot Ponce has over 10 years work­ing ex­pe­ri­ence in the ce­ment in­dus­try, hold­ing key po­si­tions in four dif­fer­ent coun­tries in com­mer­cial ar­eas, strate­gic plan­ning, and gen­eral man­age­ment.

Caribbean Ce­ment re­leased its quar­terly fi­nan­cials last week, dis­clos­ing that an over­haul of its kiln and ce­ment mill con­trib­uted to the com­pany post­ing a net loss dur­ing the Septem­ber quar­ter.

The ce­ment pro­ducer made a net loss of $81 mil­lion on rev­enues of $3.67 bil­lion. That equates to quar­terly earn­ings of neg­a­tive 10 cents per share, down from a pos­i­tive 72 cents a year ear­lier.

It was the first big loss in a num­ber of quar­ters for Caribbean Ce­ment.

For the nine-month pe­riod end­ing Septem­ber, net profit slipped to $973 mil­lion, down from $1.5 bil­lion in the sim­i­lar pe­riod in 2015, due to the over­haul of the mill.

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