Eastern Cement shuts down furnace with a daily capacity of 3500 tonnes
Eastern Province Cement Company [3080.SE] announced the shutdown of furnace (1) with a production capacity of 3500 tonnes of clinker per day during the board’s AGM, which was held on 22 February 2016. The board approved the temporary shutdown of the furnace until market conditions improve, and until the export ban is removed, to avoid the accumulation of inventory levels, which reached 1.5 million tonnes of clinker in 2015. The company does not expect the decision to have an impact on its financial results. (Tadawul)
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