Lafarge flags production woes after roof collapse incident

0
295
  • Cement production to be affected
  • Necessary measures are being taken to restore the damaged cement mill.
  • About Lafarge

Harare – Listed cement producer, Lafarge Cement Zimbabwe has revealed that the roof top collapse which happened in October this year is going to affect its cement production, posing a negative material effect on the financial results for the remaining quarter of 2021.

This follows another cautionary statement issued last month when the company signalled that the costs involved in maintaining the mill was going to weigh on its financial performance, but without mentioning the current cement production disruptions.

 “However, during the course of having the necessary works carried out, the production of cement will be disrupted,” the Company said on Tuesday.

“Therefore, shareholders are advised that the disruption of cement production as well as the cost of the ongoing repairs will have a negative material effect on the financial results of the Company for the remaining quarter of 2021.”

Lafarge added that necessary measures are being taken to restore the damaged cement mill.

“The Company has been working diligently on the restorative works necessary so that normal operations may resume as soon as possible.”

Therefore, shareholders are advised to continue exercising caution when dealing in the Company’s securities until a further announcement is made.

Lafarge Cement Zimbabwe manufactures and distributes cement and allied products for the building industry. Formerly known as Circle Cement, the company is a subsidiary of the Lafarge Group.

Its cement product range includes Portland composite cement which is used in beams, foundations and load-bearing structures; Supaset used by concrete brick makers and homebuilders. It also makes Masonry cement used for general construction work such as screed flooring, brick and mortar and plastering mortar.

The Company sells a range of allied products which include washed sand, 6-mm stones, 20-millitre stones and crusher run. Specialised products include Agricultural lime, Colorbrite and Snolime, pre-sanded Cemwash and Impermo.

Equity Axis News

LEAVE A REPLY

Please enter your comment!
Please enter your name here