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Monday, 20 May 2019

Suez Cement suspends Tourah Cement Co operations due to losses

Suez Cement has decided to temporarily suspend the operations of Tourah Portland Cement Company, of which it owns 66.12%, on the back of “deteriorating financial results and the accumulated losses” at the subsidiary, the company said in a statement (pdf). Suez did not say when operations would resume, but said losses were “exceeded the value of the shareholders' equity.”

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