Taiheiyo Cement Corp has confirmed the liquidation of ready-mixed concrete plant Amagasaki Onoda Remicon, its consolidated subsidiary, as of March 31, 2007, in the view of no prospect of recovery from excessive debt.
Amagasaki Onoda Remicon was established on the bases of JPY20 million, invested 40 percent by Taiheiyo Cement, 35 percent by two consolidated subsidiaries of Taiheiyo Cement and 25 percent by other companies.
