CEO message to LCC employees and partners

Dear colleagues of LCC and people of Benghazi and Al Fataiah,

Libya has suffered a number of crises in recent years, including armed clashes that have led to thousands of people being killed and injured. It is hard to imagine the hardship that families and friends are going through. We want to express our sincere sympathy for those who have lost their sons, fathers, husbands, brothers and friends.

Unrest and civil war have forced the company to suspend production in Benghazi in May 2014. Since then the plants in Benghazi are shut down. LCC puts all its efforts in supporting their employees. Without producing and selling cement in Benghazi we managed to keep paying salaries to all staff for more than one year. In April 2015, unrest and civil war in Derna forced the company to stop selling and producing cement in our plant in Al Fataiah. LCC lost its last source of income.

As a consequence we had to adopt drastic measure to prevent LCC going bankrupt. One of these measures was to temporarily suspend paying salaries to staff. However, the company never stopped looking for solutions to survive this crisis. And we will find a solution.

Let me make it clear about where LCC will go. We go on. We carry on with our business of producing cement. We already restarted operation in Al Fataiah and we will restart operations in Benghazi. It will take time, we cannot start with production soon, but we will.

LCC has a valuable and essential role in Benghazi and Derna. We trust in the future of Libya and will – again- provide jobs for staff to build up a future for their families and many more.

In the coming days and weeks LCC will regularly publish on its website updates on developments to restart operation in Benghazi and the situation of the LCC operation in Al Fataiah.

With best regards,

Bob Solomon, CEO LCC

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