In response to the profound effects of the coronavirus, HeidelbergCement has agreed with the works council and employee representatives to introduce short-time work for its employees in Germany. Initially, the short-time working regulations primarily affect employees from the group's head office in Heidelberg. The extent of short-time work is determined for employees depending on the loss of work and can be up to 100%.
In the first quarter of 2020, Steppe Cement Ltd sold 235 896 t of cement for 4003 million Tenge, compared to 266 393 t of cement for 4455 million Tenge in the first quarter of 2019, representing a decrease of 11% and 10% respectively as the company decided to maintain pricing over volumes in Q1 while in the previous quarters volumes had been maintained over pricing.
In a statement made by Sönmez Cement, one of the subsidiaries of Sönmez Holding, it was noted that due to the Covid-19 outbreak the Adana Yumurtalik Free Zone between 01 May and 30 June due to the contraction in exports and the domestic market.
Cement companies in India, the world second biggest market, are wary about short-term prospects for demand and may not rush to restart plants if the federal government begins lifting its lockdown from 15 April.
The ordinary general meeting (OGM) of Gulf Cement Company approved the board’s proposal to delist from Boursa Kuwait.