Taiwan Cement Corp Chairman Nelson Chang lashed out at government regulators during the company’s annual shareholder meeting, criticizing delayed action against Vietnamese cement imports that have captured 30% of the domestic market.
Taiwan’s Ministry of Finance confirmed Vietnamese dumping practices on May 21, finding margins between 13.59% and 23.2%. However, anti-dumping duties remain pending as the Ministry of Economic Affairs conducts its own damage assessment—a process that could take up to 60 days.
Chang’s frustration intensified after Vietnam simultaneously cut its cement export tax from 10% to 5% on the same day dumping was confirmed. The timing underscores the competitive pressure facing Taiwan’s cement industry as Vietnam produces 125 million tons annually while consuming only 63.5 million tons domestically, leaving massive surplus for export.
The chairman warned 2025 would be “extremely difficult” as China’s cement demand could decline 40% over five years. China currently accounts for roughly 20% of Taiwan Cement’s revenue, and the company has already shuttered two mainland plants with more closures possible.
Taiwan Cement’s diversification into battery manufacturing faces its own headwinds. While subsidiaries ship 7-8 million batteries monthly to AI server and aviation clients, their products cost more than double Chinese alternatives, forcing the company to target premium applications where price sensitivity is lower.
The company’s revenue mix has shifted toward Europe as Asian markets prove increasingly challenging.
