Pacific Cement performs well despite factory breakdown
July 20, 2018 5:18 am
Despite facing a major factory breakdown in the last financial year, Pacific Cement Limited has managed to avoid a loss.
The company anticipated there will be a loss after the nine-week closure to repair its plant which cost around four point five million dollars.
Group chief executive, Nouzab Fareed says the company managed to more than break-even but failed to achieve the financial results it obtained in the previous year.
Fareed says more upgrades will be done in the next financial year.
“To date we have sorted all the mechanical and plant issues actually we’ve started investing more. We are just going for a packaging plant in Pacific Cement. We have also installed new capacitors to look after the power consumption.”
Fareed says taking heed of the environmental issues at the factory, the company is looking at relocating further out of Suva.
He adds this is in the pipeline and will happen in the next five to 10 years.
The factory is currently located in Lami which is becoming residentially dominated.