Mitsubishi Materials Corp., the nation's second-biggest cement maker, plans to reopen its U.S. import terminal for the first time in seven years and seek acquisitions to expand in the world's biggest economy.
The company is preparing to restart its terminal in California's Long Beach as soon as the second half of 2015, Naoki Ono, president of cement operations, said in a recent interview in Tokyo. The company is considering a second U.S. terminal in San Diego and is eager to buy existing output plants or ally with others to secure supply, he said.
Mitsubishi Materials, which makes products ranging from refined copper to metal-cutting devices for auto parts, is betting on a construction revival in the U.S. to boost earnings. In Japan, growth is tapering due to labor shortages, hampering Prime Minister Shinzo Abe's efforts to spend on public works to boost the economy as the nation prepares for the 2020 Tokyo Olympic Games.
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