- Accident occurred on 11 October 2021
- Neither fatalities nor injuries were incurred
- However, the incident may impact negatively on Lafarge's financial performance
Harare - The onsite roof collapse at one of Lafarge cement Zimbabwe's cement mills will likely have a negative impact on its financial performance during the last quarter of the year, the Company has cautioned.
The Company, however, did not disclose what really caused the collapse.
In a cautionary statement released today, the Company said, “The Directors of Lafarge Cement Zimbabwe Limited (the Company) wish to advise the Company’s shareholders and members of the public that on Monday 11 October 2021, at approximately 1700 hours local time, a critical on-site incident occurred involving the collapse of the roof over one of the Company’s cement mills.”
According to the Company, neither injuries nor fatalities were recorded.
“Although there were no fatalities or injuries, this incident may have an impact on the Company’s business performance for the remaining quarter of 2021,” the Company said.
Meanwhile, Lafarge is also engaged in the construction of a Vertical Cement mill that is expected to be completed in March 2022 according to its financial results for the period ended May 2021.
Lafarge said necessary measures to restore the damaged cement mill are underway and stakeholders will be informed on any further developments in due course.
“In the meantime, shareholders and other stakeholders are advised to exercise caution when dealing in the Company’s securities,” added the Company.
In the period from January to the end of May 2021, the Company's cement sales volumes increased by 24% when compared to the same period last year, shunning the adverse impacts of COVID-19 and a subsequent lockdown introduced to curb its impact in the first quarter of the year.
Dry Mortar volumes grew by 105% when compared to the same period following the commissioning of its US$2.2 million Dry Mortar plant which is expected to increase the Dry Mortars production capacity from 7000t per annum to 100000t per annum and of that, 40% is expected to go into the region as exports.
Lafarge Cement Zimbabwe is a unit of dual-listed Swiss-based Lafarge Holcim and trades its shares on the Euronext and Swiss stock exchanges. It serves in most provinces across the country with a current installed capacity to produce 450kt of cement annually.
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