Former Taiheiyo director appointed to Ssangyong

Former Taiheiyo director appointed to Ssangyong
Published: 05 March 2004

Tadashi Suzuki, formerly of Taiheiyo Cement Corp, will become president of South Korea’s largest cement manufacturer, Ssangyong Cement Industrial Co., in which the Japanese cement company owns a 27.77 per cent stake and is also the biggest shareholder.  Taiheiyo Cement has helped the South Korean company by providing 65 billion yen (US$587m) in funds.  Ssangyong Cement’s reconstruction is on track with the company able to post a pretax profit in last year’s book closing. Suzuki, formerly a director at Taiheiyo Cement, took up the post of vice president at Ssangyong Cement when the Japanese firm provided funds in December 2000. He is expected to be appointed president and chief executive officer after the general shareholders meeting slated for March 19.