Holcim Philippines closes Davao cement plant

The Philippines' leading cement-maker Holcim Philippines has suspended the operation of its manufacturing plant in Davao as the city was locked down until 19 April to contain the COVID-19 pandemic.

The suspension of operations in Davao is in compliance with Mayor Sara Duterte's order to impose an enhanced community quarantine (ECQ) within Davao City starting 4 April.

"While our Lugait plant in Misamis Oriental will continue to operate and serve the requirements of our business partners and customers in Northern Mindanao and the Visayas, the suspension of our operations of our Luzon and Davao plants will result in the company's inability to meet our production and sales targets which may have material financial impact to the business," Holcim said in a disclosure to the Philippine Stock Exchange on Monday.

"Cost control measures are currently being implemented to mitigate the impact of these developments to our business."