Equities
City Cement Co. Flags Increase in Production Costs After Saudi Aramco's Fuel Price Adjustment
City Cement Co. (SASE:3003) expects the fuel price adjustment disclosed by Saudi Arabian Oil Co., d/b/a Saudi Aramco, in January to result in a 2.32% increase in its production costs.The cement products manufacturer said Tuesday that it has incorporated the estimated increase in its first-quarter results. It added that its participation in Saudi Arabia's Industrial Sector Competitiveness Program helped soften the price adjustment's financial impact.In January, the state-owned oil giant notified City Cement about the changes in prices of fuel products used in the latter's production activities.
SASE:3003
