Two interested parties are in discussions with the Bermuda Cement Company about buying the business or its equipment.

One is a group made up of members of the Construction Association of Bermuda – however the Association itself is not bidding for the Island's only bulk cement supply company.

The other is businessman Clifford Lambert and his company Island Cement, although his interest remains solely in acquiring the plant equipment rather than the entire company as a going concern.

Another name that had been linked to the bidding process is Dennis Correia, a director of Correia Construction. He had heard the same rumours but yesterday said he is not seeking to buy the cement company and is not amongst the group from the Construction Association that is involved in talks.

The future of the cement company, which has operated from the twin silo site at Dockyard for the past 43 years, remains clouded following a breakdown in its relationship with its landlord the West End Development Corporation in November.

Wedco announced it would not extend its land lease to the company beyond the end of the year because of disagreements relating to new terms, including building a new cement plant. An immediate cement crisis has been averted after a stop-gap deal was struck a week ago that will allow the cement company to remain in place into the new year so that a January cement shipment can be delivered and sold.

Faced with no longer being allowed to operate from the site, the cement company has put itself up for sale.

Chris Montgomery, a director of the Construction Association of Bermuda, said: "The Association is not involved in bidding, however there are members that are looking to buy into it, but they are doing it on their own.

"Our main goal is to keep the price (of cement) as low as possible. We're happy that Government has extended the lease until a suitable buyer is found or an agreement is made."

Mr. Lambert, who heads the recently renamed Island Cement firm, confirmed his company remains interested in purchasing the equipment and plant at Dockyard, but not in actually buying the cement company as a going concern. Mr. Lambert has previously revealed he has lined up French cement giant Lafarge as a future supplier.

"The company is no good to me. I want to buy the plant equipment and I have made an offer to Jim Butterfield," he said.

Mr. Correia, whose Correia Construction is currently involved in a major project to expand the cruise ship pier at Dockyard, said he was aware his name had been linked to buying the cement company but dismissed it as part of the Bermuda "rumour mill".

"I've made some phone calls to find out what was happening with regards to the cement and continuity of supply. I'm committed to a contract that needs to have 500 yards of concrete and, like a lot of others, I'm stuck to a contract that has a fixed price," he said, explaining his reason for calling the cement company and Government to find out what was happening to the cement supply.

He said he had since been made aware of the Construction Association group that is bidding for the cement operation, but although Correia Construction is an Association member it is not involved in that bid.

Mr. Correia added he could see the economic difficulty any cement plant operator would face if it is required – as the Bermuda Cement Company had been requested – to dismantle the current plant and build a new one nearby in return for a 20-year land lease.

The cement company estimated it would cost $12 million to $15 million to fulfill the request and would therefore be unviable, a decision that led to protracted negotiations with Wedco and finally a decision by the Government quango not to extend any further "good faith" land leases to the company.

A temporary reprieve to allow a further cement supply ship has given some breathing space for negotiations to sell the company to continue until at least February.

Cement company director Mr. Butterfield said: " There are two interested parties at the moment. We've been allowed to bring in one more vessel in January. That will give these two interested parties – or any other parties – time to express their interest in the company."