TRINIDAD CEMENT LIMITED
MEASURES TAKEN BY TCL IN RESPECT OF THE COVID-19 GLOBAL PANDEMIC
Trinidad Cement Limited ("TCL" or the "Company") hereby discloses the measures which TCL and certain of its subsidiaries have taken, or currently expect to take, regarding the Novel Coronavirus ("COVID-19") global pandemic.
The health and safety of its employees, contractors and suppliers is the Company's top priority. TCL continues to monitor the development of COVID-19, leveraging information and recommendations from relevant health organisations such as the World Health Organization, the Centers for Disease Control, and other international organisations, as well as from local authorities.
The Company has set-up local rapid response teams that remain activated throughout the Company's operations in Trinidad and Tobago, Jamaica, Barbados, that also cover Guyana. As of the date of this report, the Company has implemented and expects to continue to implement preventive measures, as the situation evolves. Some measures already applied include restricting all work-related travel, arrangements are also in place so employees can work remotely to the extent possible and to minimise the people working in TCL's operating facilities and administrative offices. Among other initiatives, we have also enhanced the TCL's internal information campaigns on recommended practices for health, hygiene, social interaction and promoting physical distancing. TCL also continues to cooperate with our clients and suppliers in order to implement measures that are designed to maintain business continuity and to try and reduce any impact that disruptions caused by COVID-19 could have on our business. In addition, TCL is exploring different ways to assist our communities during the COVID-19 pandemic.
In Trinidad and Tobago, on March 28, 2020, the Government of Trinidad and Tobago issued specific regulations addressing COVID-19 ("the Regulations"). Pursuant to the Regulations, starting on March 30, 2020 and up to at least April 15, 2020 ("the Prescribed Period"), or earlier if possible under the Regulations, TCL has halted almost all of its operations, except for certain activities related to the safe operation and preservation of the kiln and certain port operations. As of the date of this report, one subsidiary, exempt under the Regulations, that has specific written orders will continue to manufacture and supply packaging to the food industry during the Prescribed Period. Also, in compliance with the Regulations, TCL's subsidiaries TCL Ponsa Manufacturing Limited and Readymix (West Indies) Limited will halt all operations during the Prescribed Period. For the avoidance of doubt, as of the date of this report, these measures are temporary and not permanent.
In Barbados, also on March 28, 2020, the Government of Barbados issued certain orders addressing COVID-19 ("the Orders"). Pursuant to the Orders, Arawak Cement Company Limited, a wholly owned subsidiary of TCL, has temporarily halted operations at its cement manufacturing facility located in Checker Hall, St. Lucy, Barbados, at least until April 14, 2020, or earlier if allowed under the Order.
TCL believes that COVID-19 has already been a contributing factor in the decline of global economic activity. The disruption of world trade, travel, capital investment and general economic decline is negatively impacting the global economy. These adverse effects will severely compromise the building and construction industry in the Caribbean region and ultimately the TCL Group's financial performance in the short term.
TCL also believes that the current measures taken to limit the spread of COVID-19 could have a negative impact on short-term economic growth across the world, in particular in the Caribbean region.
To this end, the TCL Group is implementing several measures including the possible delay of certain capital expenditures that had been planned in this fiscal year as well as even more rigorous cost control measures. As a customer retention strategy, the Group will maintain a reasonable amount of inventory at the TCL Group's operating facilities and other locations in order to be able to serve our customers, to the highest level possible.
TCL continues to fully evaluate and assess the overall risks that this global pandemic could have on the TCL Group's financial condition, business, liquidity and operating results and will advise of any further material changes associated with COVID-19.
This Notice is published pursuant to Section 64(1)(b) of the Trinidad and Tobago Securities Act, 2012
Health and Safety Come First
The global pandemic has placed the world in uncharted territory.
During these times, our top priority remains the health and safety of our employees, customers, suppliers and communities. That’s why we have enacted a series of rigorous protocols in our worldwide operations that are aligned with the recommendations of health authorities and have adopted social distancing policies to eliminate face-to-face contact wherever possible.
At the same time, we are working diligently to minimize as much as possible supply disruptions, so we are able to continue providing the service our customers deserve
The construction industry and its supply chain, including our business, is a fundamental part of the fabric of society and the economy. By maintaining our operations while following government guidance protocols, we will serve our customers to help prevent wide scale economic collapse and be ready to serve society at the end of the crisis.
We continually monitor the development of the Coronavirus, following daily UK Government advice updates, and will change our practices quickly as necessary.
A Message From Our CEO
First of all, I hope that you and your families are healthy and safe.
The global COVID-19 pandemic is a social and economic phenomenon that is affecting all of us, both professionally and personally.
As I have said many times before, there is nothing more important than the health and safety of our employees, customers, suppliers, and communities. I firmly believe that during these times, we must adhere even more closely to our values, and that is what all of us at CEMEX are doing right now.
Our employees have been encouraged to follow physical distancing and personal hygiene protocols. In addition, they have been instructed to work from home when possible, avoid traveling as much as possible, and avoid attending business-related events, among other preventive measures.
Our commitment to health and safety is stronger than ever. And so is our commitment to be a trusted partner for our customers and a good neighbor to our communities. Now more than ever, our digital platforms, such as CEMEX Go, are an ideal option to continue serving our customers, while adhering to the most rigorous health practices.
Our manufacturing, sales, and delivery operations remain active wherever possible, and will continue to work as long as they can do so in a safe and healthy manner, or as long as the corresponding authorities allow them to remain active. Our pickup and delivery processes have been adjusted to minimize contagion risks, while keeping our building materials supply chain moving. Our sales force is available to you through email, telephone or chat. Our customer service centers are there to take your call, even if our representatives are working from home.
We are also keeping in close contact with our communities. We are deploying the resources at our disposal, within reason, to help our communities overcome hardships related to the COVID-19 crisis.
A trusted partner is one you can count on during the most uncertain times. All of us at CEMEX are working hard! You can count on us right now more than ever.
Fernando A. González
How we’re keeping our customers, employees, and suppliers safe
In accordance with global, national, and local health authority recommendations, we have implemented strict procedures throughout our operations.
- Physical distancing education and protocols for our employees
- Company-wide travel restrictions
- Special cleaning procedures in our facilities
- Personal hygiene awareness campaigns
- Screening at company facilities
- Work-from-home policies
- Strict quarantining of any at-risk employees.
For official information please visit: https://www.who.int/
How we’re supporting our communities
We will continue working closely with the communities in order to understand their needs, particularly those groups that are more vulnerable to the current situation.
We are committed on Building Community Together and are acting on the following actions:
- Strengthening health and hygiene behaviors in the communities.
- Permanent communication with community leaders and local organizations
- Closely monitoring the evolution of COVID 19 to identify needs and support the most vulnerable
- Collaboration with local partners for local support
To learn more about how we’re collaborating with communities please follow our social media accounts.
We understand that this is an uncertain time for many of our partners, customers and communities and want to support you where we can.
If you need to get in touch with us or have questions about products, services or deliveries please message us or give us a call and we will be happy to help.