Asia
TCC Group Unit to Halt Operations at Guigang, China Unit After Flood and Typhoon Damage
TCC Group (TPE:1101) unit TCC (Guigang) Cement is expected to suspend operations for about one month after flooding and related damage caused by Typhoon Maysak and its remnants, according to a Wednesday Taiwan Exchange filing.Shares slid over 1% in Thursday's late morning trade.The company said flooding, river backflow and reservoir discharge damaged equipment at the Guangxi, China, plant.To maintain customer supply, production will be temporarily supported by its Yingde plant in Guangdong, China.TCC said all employees are safe, and the financial and operational impact is still being assessed.
TPE:1101
