The Arabian Cement Company (ACC) announced today on tadawul an impairment loss at its Jordan-based affiliate Qatrana Cement caused by the huge gap between the demand and supply of cement in the Jordanian market and its impact on the price levels.
According to the revaluation of Qatrana’s assets by a global expertise house; the impairment of the company’s assets in 2013 reached SAR 291m amounting to 23% of the company’s total assets of SAR 1267m.
The Arabian co. referred to the impairment as an unrealized loss that will not affect the Group’s cash flows.
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