Cementos Pacasmaya’s sales fell in 1Q17 as severe weather hit the company’s key market in the north of Peru. According to the company’s quarterly results statement, sales fell 12.2% on the back of the disruption caused by heavy rainfall and associated flooding and landslides.
The severe weather conditions – dubbed a coastal El Nino – has resulted in significant destruction of infrastructure and homes, as well as the deaths of 113 people. A preliminary assessment of the damage put it at over US$3.3 billion – but this is likely to rise.
Cementos Pacasmaya operates three cement plants: Pacasmayo, Piura, and Rioja. Total cement production at the three plants fell 6.7% in 1Q17.
Read the article online at: https://www.worldcement.com/the-americas/28042017/cementos-pacasmaya-sales-hit-by-severe-weather/