Najran Cement Co.’s board of directors has decided to temporarily halt production on the second clinker line, as current market conditions and low demand have resulted in high inventory levels.
The suspension will have no impact on the company’s liabilities, the company said in a statement to Tadawul on Wednesday.
Najran will disclose the related financial impact, if any, in Q1-2017 financial results.
The production line operates with a daily capacity of 3,000 tons.
The cement producer’s chairman, Badr Jawhar, had earlier stated that Najran’s inventory has reached 3 million tons; equal to a full year's sales.
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