Afrimat to suspend most operations


Afrimat to suspend most operations

Published Date: 2020-03-27 | Source: Stephen Gunnion | Author: Stephen Gunnion

Afrimat to suspend most operations

The industrial minerals, bulk commodities and construction materials group says it is too early to quantify the potential impact.

Afrimat says it will cease operations and trading at the majority of its operations from today, apart from some critical businesses.

The group says some operations in its industrial mineral cluster will be allowed to stay open for the duration of the 21-day lockdown as they supply critical chemicals to the water and sanitation industries. To date, it said there were no confirmed cases of the Covid-19 virus in any of its operations, which also include bulk commodities and construction materials.

Afrimat said its balance sheet remained strong and it would meet all its obligations during the lockdown period. While it couldn't determine the potential impact on its operations yet, it said if it became material and quantifiable it would alert shareholders.

Its shares closed unchanged at R23 yesterday.

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