Asia Cement Corp has announced a five-year development plan with a target to boost total annual capacity to in excess of 37Mta in Taiwan and China within five years, making it one of the top-10 cement producers in the Greater China market, according to the Taiwan Economic News.
Asia Cement will also speed up the development of the downstream premix concrete business, aiming to bring total annual output to 5.5 million cubic meters in Taiwan and China this year.
Asia Cement said it will adopt a two-pronged strategy to expand presence in China by M&A as well as self-development. For instance, the company recently acquired the Wuhan-based Xinlinyun Cement through its subsidiary in China.
By the end of this year, Asia Cement will have launched four new kilns with annual capacity of eight million metric tons in China, aiming for total output of 37 million metric tons of cement in Taiwan and China by 2014. Such new capacity will allow Asia Cement to extend into rural China rather than only focus on major cities, especially when China is over-supplied with cement.