LafargeHolcim subsidiary Jordan Cement makes US$87m nine-month loss in 2019

Print this page

Jordan: 21.8% state-owned Jordan Cement, 50.3% subsidiary of LafargeHolcim, has laid off 200 of its 550 employees after incurring losses of US$87m in the nine months to 30 September 2019. Reuters has reported that the company, whose 2018 losses were US$48.9m, up by 4.0% year-on-year from US$47.0m in 2017, made the sackings ‘to ensure its continuity,’ according to Jordan Cement CEO Samaan Samaan. The company has operated a single line at its 2.0Mt/yr integrated Rashadiyah cement plant since the closure of its 2.0Mt/yr Fuhais plant in 2013. The country’s 9Mt/yr-capacity cement sector serves a domestic demand of 4Mt/yr.

Last modified on 06 November 2019

URL: https://globalcement.com/news/item/10045-lafargeholcim-subsidiary-jordan-cement-makes-us-87m-nine-month-loss-in-2019

© 2019 Pro Global Media Ltd. All rights reserved.