Chile-based Cemento Polpaico announced the closure of two concrete plants in Quilín and Renca, Metropolitan Region, as well as the temporary halt of operations at the Aconcagua Áridos plants.

The step is due to the negative trend in the results of Polpaico Soluciones, which showed accumulated losses of CLP8386m (US$9.1m) before taxes as of June 2023 as a result of the crisis affecting the sector, reports CE Noticias  Financieras. Moreover, the industry expects a 28 per cent drop in results when compared to the last two years.

"This reality obliges us to act responsibly and quickly take restructuring and cost containment measures. In the central areas, a restructuring was carried out in order to adjust support services and streamline processes, in addition to freezing some projects and investments," according to  Andrés Pérez, the company's general manager.