Durrant Pate/Contributor

The Fair Trading Commission (FTC), Jamaica’s competition regulator, has granted a non-objection for a significant ownership restructuring at Jamaica Aggregates Limited (JAL).

This comes after the regulatory body completed an assessment of the local market for aggregates, which comprise sand, stone, limestone processing, and related products. 

The FTC’s review of the transaction involved several key agreements, including the stock purchase, shareholders’ and consulting agreements, all examined under section 17 of the Fair Competition Act (FCA). 

The FTC concluded that “The transaction represents a change in the ownership structure of JAL and does not pose significant competition concerns in the aggregates market or any adjacent markets. Accordingly, the FTC determined that the transaction is unlikely to breach the FCA.”

JAL is a joint venture between Jamaica Pre-Mix, the premier provider of concrete in Jamaica for 50 years, and LafargeHolcim, the world’s foremost producer of cement, concrete and aggregates.

As the leading aggregates producer island-wide, JAL operates quarries and produces high-quality sand and stone in large quantities from convenient locations.