Taiheiyo Cement Corp said Tuesday it will reduce regular employees and its group cement production capacity by more than 20% in fiscal 2010 to boost profit by ¥16bn annually. The number of its regular employees will decline by about 740 under an early retirement programme and transfers by the end of September, the largest Japanese cement producer said.
The company also plans to cut its group annual cement production capacity by 5.6Mt to 18Mt by the March 2011 end of fiscal 2010 to meet slackening cement demand amid fewer public works projects and housing starts, it said. Five of Taiheiyo Cement’s alliance partners will decrease their production capacity by a total of 2.5Mt, the firm said.
