Taiwan Cement sells properties to focus on core business

Taiwan Cement sells properties to focus on core business
Published: 04 July 2005

Taiwan Cement Corp(TCC) will dispose of idle land lots and non-core business units across the board within the next five years, said the company’s chairman Chester Koo. The company noted it would first sell out idle land lots measuring 150 hectares worth tens of billion New Taiwan dollars to repay long-term debts and expand its territory in the cement sector.

In the meantime, Koo has instructed the management of affiliated firms to speed up disposals of non-core businesses in tandem with TCC’s operating method. TCC and its affiliated firms have many non-core businesses, including those focusing on electronics and petrochemical industries. At present TCC has total outstanding long-term debt of NT$27bn (US$862.62m) with the ratio of debt to operating funds standing at 44 per cent.