{"id":599109,"date":"2019-06-18T04:03:20","date_gmt":"2019-06-18T04:03:20","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/06\/18\/heidelbergs-tourah-cement-suspends-production-considers-liquidation-amid-losses\/"},"modified":"2019-06-18T04:03:20","modified_gmt":"2019-06-18T04:03:20","slug":"heidelbergs-tourah-cement-suspends-production-considers-liquidation-amid-losses","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/06\/18\/heidelbergs-tourah-cement-suspends-production-considers-liquidation-amid-losses\/","title":{"rendered":"Heidelberg\u2019s Tourah Cement suspends production, considers liquidation amid losses"},"content":{"rendered":"

Heidelberg Cement subsidiary Tourah Cement has suspended production and could resort to liquidation due to financial distress caused by oversupply in the market, Managing Director Jose Maria Magrina said last week in a message to employees seen by Reuters<\/a>. The company said estimated consumption during the current year will end at about 50 mn tonnes at a time when competitors operating at full capacity were producing about 85 mn tonnes. \u201cThis extra capacity is more than the total consumption in one year of countries like Italy, Spain, Morocco or South Africa,\u201d Magrina said. The company\u2019s accumulated debt stands at EGP 800 mn.<\/p>\n","protected":false},"excerpt":{"rendered":"

Heidelberg Cement subsidiary Tourah Cement has suspended production and could resort to liquidation due to financial distress caused by oversupply in the market, Managing Director Jose Maria Magrina said last week in a message to employees seen by Reuters. The company said estimated consumption during the current year will end at about 50 mn tonnes […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7255],"tags":[1002,72,131],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-599109","post","type-post","status-publish","format-standard","hentry","category-manufacturing","tag-cement","tag-enterpriseam","tag-manufacturing","wpautop","entry"],"acf":{"mongo_id":"3f02db08-9111-4be3-a465-937442e6e1d0","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[599082],"teaser":"","voice_url":""},"yoast_head":"\nHeidelberg\u2019s Tourah Cement suspends production, considers liquidation amid losses - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2019\/06\/18\/heidelbergs-tourah-cement-suspends-production-considers-liquidation-amid-losses\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Heidelberg\u2019s Tourah Cement suspends production, considers liquidation amid losses\" \/>\n<meta property=\"og:description\" content=\"Heidelberg Cement subsidiary Tourah Cement has suspended production and could resort to liquidation due to financial distress caused by oversupply in the market, Managing Director Jose Maria Magrina said last week in a message to employees seen by Reuters. The company said estimated consumption during the current year will end at about 50 mn tonnes […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2019\/06\/18\/heidelbergs-tourah-cement-suspends-production-considers-liquidation-amid-losses\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2019-06-18T04:03:20+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/06\/18\/heidelbergs-tourah-cement-suspends-production-considers-liquidation-amid-losses\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/06\/18\/heidelbergs-tourah-cement-suspends-production-considers-liquidation-amid-losses\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Heidelberg\u2019s Tourah Cement suspends production, considers liquidation amid losses\",\"datePublished\":\"2019-06-18T04:03:20+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/06\/18\/heidelbergs-tourah-cement-suspends-production-considers-liquidation-amid-losses\/\"},\"wordCount\":110,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"cement\",\"EnterpriseAM\",\"Manufacturing\"],\"articleSection\":[\"Manufacturing\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/06\/18\/heidelbergs-tourah-cement-suspends-production-considers-liquidation-amid-losses\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2019\/06\/18\/heidelbergs-tourah-cement-suspends-production-considers-liquidation-amid-losses\/\",\"name\":\"Heidelberg\u2019s Tourah Cement suspends production, considers liquidation amid losses - 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