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%.
Despite a relief package given to the construction industry by Prime Minister Imran Khan, the cement sector is expecting a 25% decline in demand amid coronavirus outbreak.
The board of directors of Gujarat Sidhee Cement Ltd at its meeting held today has approved the declaration of Interim Dividend of Re. 1 (Rupee one only) per share on 8,74,25,389 equity shares of Rs.10/- each fully paid up for the period ended 31% December, 2019.
Lehigh Cement has laid off 54 of its 90 employees at its Glen Falls plant, New York state, USA, in the wake of a construction slowdown attributed to the spread of COVID-19.
The N100 billion bond being raised by Dangote Cement Plc is exciting some capital market stakeholders, as they have said it helped in broadening investment options in the fixed income market.