Rock Hard upset at TCL takeover

A takeover of Trinidad Cement Limited (TCL) by the Mexican multinational building materials company Cemex would strike a solid blow to Barbadian cement companies, one local company has charged.

Rock Hard Cement (RHC), a member of the Mark Maloney-led Preconco group, is warning that the US$86 million (BDS$ 172 million) yet unconfirmed deal, which would affect TCL’s operations in Barbados, Trinidad and Tobago and Jamaica, “could have a negative impact on the construction industry, especially given Cemex’s plans to expand into the ready-mix and precast businesses”.

It is the ready-mix sector that RHC is most worried about, with the local company pointing out that the Mexican giant enjoyed too great an advantage to allow for a fair contest.

“Given Cemex’s history in the ready-mix sector, this expansion could significantly impact longstanding local companies who would not have the same inexpensive and convenient access to the cement needed,” RHC said in a statement this week.

The local company, which offers precast services, also warned that the Cemex takeover could impact the amount of foreign exchange brought into the country by Arawak Cement. In fact, it said foreign exchange was already being lost due to the lower price of the cement products in other territories “and the money spent by Arawak on products used in the manufacturing process”.

The company entered the local market in November 2015, and it was engaged in a battle last year for control of the cement market, insisting its product was of good quality, and taking credit for reducing cement prices in Barbados in the face of allegations by TCL that it was misleading consumers.

The company had also accused the TCL group of employing various tactics to try to stop RHC from entering regional markets.

“Arawak has tried everything to stop us from entering the market and from selling our quality cement,” Maloney had told Barbados TODAY at the time.

RHC today noted that TCL and its subsidiaries had had a monopoly in the cement industry for decades, adding that the price of cement had only fallen in the last year with the entrance of RHC into the market.

“While RHC is committed to the sector and welcomes all fair competition, some of the actions of Arawak and by extension TCL over the past year have not been in-line with these sentiments, and [RHC] believes that the situation will only escalate with the takeover,” RHC said.

9 Responses to Rock Hard upset at TCL takeover

  1. Frank White March 3, 2017 at 7:25 am

    YC, you want someone to have pity for you and using the foreign exchange as your yard stick, gimme a break Maloney. Your arrogance offends me, you totally disregarded the rules and laws of the town planning department and you now want someone to jump on your band wagon. Cemex have all rights to conduct business the way they see fit just as you continued to build your structure after being told not to do so. I have no sympathy for you, no pity for you, no remorse for you. Go fight your own battles yourself…

    Reply
  2. Tony Webster March 3, 2017 at 8:00 am

    Government PLUS Rock Hard, plus God? My money is on CEMEX. These folks have a bottomless bank account. No contest. Dem cud write big cheques (in great demand hereabouts and nowabouts) to every breathing candidate .

    Best bet is for soft-man….to sell-out…and bow-out gracefully…and try to get a li’l bite as a sub-contractor…or a go-fer guy. Pity. This is one battle that David ent gine win against Goliath.

    Hmmm…remember how the Beer of Barbados surrendered to the bear of Brazil?

    Reply
  3. Lynette Warden
    Lynette Warden March 3, 2017 at 8:15 am

    The Brazilians soon take over everything in Bim

    Reply
  4. Dwayne Durant
    Dwayne Durant March 3, 2017 at 8:15 am

    Rock hard going rock soft lol that for him

    Reply
  5. North Point March 3, 2017 at 8:31 am

    well I don’t known one thing about this cement business, other that when I buy two or three bags to build a pig pen. I wish you the bust in your great fight, from the language of Frank White and Tony Webster it seem like Mr. Maloney is swinging in a shark infested waters called “CEMEX” and he does not have a chance of coming out alive, those odds are serious. I knew that the cement “WAR” was going to be a dirty one, and lots of dust was going to be thrown in to some faces, and it has now started, and goggles ain’t going to help. So Mr. Maloney, say a pray, and dig in deep, de road gine be long and hard with CEMEX, and ROCK HARD Cement.

    Reply
  6. Mikey March 3, 2017 at 9:24 pm

    Why Barbadians don’t support Barbadians against FOREIGN INTEREST ???
    The Slave trick is still working in the 21st Century ???
    Some of us really need Brain transplants.
    Indians support Indians, Syrians support Syrians, British support the British, Yankees support Yankees, Africans support Africans .
    WHAT IS WRONG WID BAJANS SUPPORTING BAJANS ???
    Well we will all sink and drown TOGETHER ???

    Reply
  7. Tony Waterman March 4, 2017 at 6:14 am

    @MikeyStop being Stupid, this is BIG International Business, and we are only 166 Sq Mi. 280.000+ people, it has Noting to do with Slavery and all that trash you are spewing up, and all to do with who has the Biggest Bank Roll, how many bajans have the Funds to play in this ball Park???? and the answer is!!!NONE.

    If you are a COW, dont try to swim in Pirannah infested Waters, you will be eaten ALIVE.

    Let’s see how much Freundel can help him with this one, this is NOT Hyatt.

    Reply
  8. Tony Waterman March 4, 2017 at 6:22 am

    He run over Cummings, let me see who he gine run over now.

    Reply
  9. J. Payne March 6, 2017 at 12:39 am

    CEMEX was a shareholder of TCL for about a decade… Allyuh on this chat late. CEMEX has been an increasing stake holder of TCL since the days of the whole talk of Life of Barbados/Guardian take over.

    Reply

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