Saudi Cement Firms May Stop Some Production Lines, Youm Says

Saudi Arabian cement companies may stop operating some production lines and start laying off workers, al-Youm reported, citing Eastern Province Cement Co. General Manager Zamil Al Muqrin.

Production capacity is bigger than local demand as Saudi companies are banned from exporting, the newspaper said, citing Al Muqrin.

One Saudi company has ceased operations on ten out of 12 production lines and has laid off 550 workers, the newspaper added, without naming the company.

To contact the reporter on this story: Mourad Haroutunian in Riyadh at mharoutunian@bloomberg.net

To contact the editor responsible for this story: Shaji Mathew at shajimathew@bloomberg.net