US: Japan's Taiheiyo Cement foresees US business return to black

Byyyp

Updated Wed, 12 Mar 2014 00:00:00 GMT

After five years in the red in its US business, Taiheiyo Cement expects to return the segment to profitability in the year that ends in March 2015, according to company president Shuji Fukuda.

The American subsidiary had been a major source of revenue, raking in just over US$200m in 2006, but began posting losses after the 2008 financial crisis hit. With the US housing market slow to recover, the subsidiary has remained stuck in the red year after year.

However, the segment is doing more business, particularly on the West Coast, while the average selling price rose by 10% in 2013.