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Caribbean Cement offers discount on cash purchases

Published:Wednesday | February 24, 2016 | 12:00 AM
Caribbean Cement Company Limited

Caribbean Cement Company Limited said Tuesday that it will give a 1.5 per cent discount to cash purchases on cement.

It is additional to the 0.5 per cent discount implemented since last October, the company said.

Caribbean Cement cited the 20-month inflation of 7.13 per cent as a signal that it was offering savings to its customers. However, 12-month inflation has been tracking below four per cent since April 2015, and is currently at 3.7 per cent, according to data released last week by STATIN on price adjustments in January. Additionally, prices deflated in the month of January by 0.4 per cent.

"We commit to continue our drive, which started twelve months ago, to put significant resources and efforts towards the further improvement of our efficiencies and competitiveness," said the company's release. This has allowed us to offer this additional discount to our customer base."

The price of cement otherwise remains unchanged. Credit purchases will not attract the discount.

"In addition, customers purchasing from our depots will pay a portion of the costs for freight. These partial freight costs are subject to change, and they are dependent on factors such as oil prices and the depreciation of the Jamaican dollar," said Caribbean Cement.