HARARE - Lafarge Cement Zimbabwe (Lafarge) says it expects its new composite cement product, SupaSet Portland, to increase total revenue by 10 percent.
The Zimbabwe Stock Exchange-listed cement maker recorded a $67,6 million revenue in the year to December 2013, down 3,3 percent from prior year’s $69,9 million.
Its chief executive Amal Tantawi said the new product has potential to surpass the projected 10 percent contribution.
“Innovation is for us the key driver that differentiates us from our competitors,” she Tantawi.
Lafarge faces stiff competition from PPC and Chinese-owned Sino Zimbabwe.
Supaset is rapid setting cement that offers quick turnaround on production resulting in higher productivity and better returns.
It can be used to make quality bricks, precast operation, dam and reservoir constructions among other uses.
Despite recording an overall 5,6 percent increase in demand from 984 kilo tonnes in 2012 to 1 039 kilo tonnes last year, Lafarge’s aggregate demand was lower than anticipated. — Business Live