EAPCC announces 10% price cut

East African Portland Cement Co (EAPCC) has announced a 10 per cent reduction on the ex-factory price of its Blue Triangle Cement.

The Kenyan cement producer attributed the price cut to improved processes following the implementation of a strategic turnaround plan it embarked on last year, according to a report in The Star national newspaper.

“Over the last 10 months, we have been re-engineering our processes from production to distribution, sales and marketing,” EAPCC Managing Director, Simon Nkeri, said in a statement. “We have worked on cost management as well as process improvement and alignment.” As part of the strategic plan, the firm has embarked on a three-pronged financial injection programme which entails debt restructuring and stabilising operations, inviting financial investors and extracting value from idle assets by closely working with the government," the report quoted him as saying.

Some of the steps taken towards achieving this include plans to retrench 1000 workers as well as the sale of its land worth KES8bn (US$77m).

The company said it has also enhanced its distribution system to improve turnaround times.