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Article: Universal cement to profit from recovering car market in China.(Brief article)
- Article from:
- The Taiwan Economic News
- Article date:
- July 29, 2009
CopyrightCOPYRIGHT 2009 China Economic News Services. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Taipei, July 29, 2009 (CENS) -- Universal Cement Corp., one of Taiwan's leading producers of cement, stands to profit from the recovering automobile market in China with its 30% stake in Six Union Machinery Enterprise Co., a Taiwan-invested manufacturer of car parts in China.
With sales rising since the second quarter of this year, Six Union is expected to contribute over NT$260 million (US$7.92 million at US$1:NT$32.8) to Universal's overall earnings this year, higher than expectations.
Universal said it will turn from red to black this year, predicting it would be able to score NT$0.18 (US$0.005) in earnings per share this year.
Since the ...