Uruguay: Ancap to make further production cuts

Uruguay: Ancap to make further production cuts
Published: 20 March 2017


Ancap is expected to make cuts in overtime, security and cleaning personnel to move the company's results closer to the black while keeping both plants at Minas and Paysandú operational, according to the newspaper El País de Montevideo.

Losses at the companies reached US$207m in the past decade with 2016 results indicating a loss of US$25m. To return Ancap to profitability, the company’s syndicate has proposed to access international reserves to install a third kiln line at Paysandú, parts for which have been delivered to the company some time ago. The union also has requested the government that for public works only Ancap cement would be used and that a 35 per cent import duty would be levied.