Cement News tagged under: Asia Cement

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Asia Cement records 83% revenue surge in 2018

01 February 2019, Published under Cement News

South Korea’s Asia Cement has announced a 82.8 per cent YoY increase in revenue in its preliminary unaudited results for the 2018 period, rising to KRW843.3bn (US$754.1m) from KRW461.2bn. Operating profit surged 49 per cent to KRW79.3bn from KRW53.2bn. However, 2018 net profit dropped 67.8 per cent to KRW17.84bn, compared with KRW55.38bn of the year-ago period.

Asia Cement Corp sees 167% rise in 2Q net profit

14 August 2018, Published under Cement News

Taiwan's Asia Cement reported a 37.6 per cent increase in revenues to TWD22.425bn (US$728.2m) in the April-June 2018 quarter from TWD16.298bn in 2Q17. Pretax profit was up by 174.9 per cent from TWD2.469bn in the 2Q17 to TWD6.788bn in 2Q18 while net profit surged by 167.9 per cent to TWD4.33bn in the 2Q18 from TWD1.616bn in the year-ago period.

Taiwan cement producers forecast profits from Chinese operations

01 May 2018, Published under Cement News

Taiwan and Asia Cement are expecting to experience a profitable year, on the back of price hike in China and increasing pressure on cement manufacturers on the mainland who cannot meet Bejing's stricter environmental regulations. Taiwan Cement Corp is forecast to generate net profit of TWD16.48bn (US$556.1m) for the whole of this year, a 117 per cent surge from TWD7.6bn last year, Taishin Securities Investment Advisory Co said. Taiwan Cement's revenue is forecast to grow 21.6 per cent a...

Asia Cement invests in green wind energy

20 March 2018, Published under Cement News

Asia Cement Corp announced yesterday that the company is partnering with Copenhagen Infrastructure Partners (CIP) to develop an offshore wind farm that could be in operation before the end of 2020. The TWD60bn (US$2.05bn) Hsinchu Offshore Wind Power Project is a 450MW off the Taiwan coast. Asia Cement President, Kun-Yen Lee, said, the cement producer would cover TWD20bn-30bn of the development costs, in line with the 20-30 per cent self-financing ratio of most wind projects. The loc...

Restructuring to re-energise South Korean market

26 January 2018, Published under Cement News

South Korea's cement market took a further step towards consolidation this week when Asia Cement acquired Halla Cement for US$723m. This added 7.6Mta to Asia Cement's capacity and made it the third largest cement producer in the country. Asia Cement fought off bids from three other interested companies to secure the former Lafarge business and initially six investors had expressed an interest to buy Halla Cement. 
 "Upon acquiring Halla Cement, Asia's share in the local market would ...

Asia Cement acquires Halla Cement

23 January 2018, Published under Cement News

Hong Kong-based Baring Private Equity Asia (BPEA) has sold Halla Cement, a South Korean cement producer, to Asia Cement for US$723m. Halla Cement, formerly known as Lafarge Halla Cement, operates an integrated main plant and three slag cement plants, with a capacity of 7.6Mta. With its acquisition, Asia Cement will become the third-largest cement player in Korea with a 19 per cent market share. "The Korean cement industry is consolidating, and Halla Cement has a leading market positio...

Asia Cement to restrict Sincheng mining activities

16 June 2017, Published under Cement News

Asia Cement is to reduced its mining operations in Hualien County, Taiwan, by 40 per cent amid widespread criticism at the company’s mining activities at the Sincheng site. The company said it would restrict its mining operations in Sincheng Township to about 250ha, 150ha less than the 400ha that the government has approved. It has also agreed to conduct an environmental impact assessment on its mining operations if necessary, once a proposed revision of the Mining Act passes the legislat...

Asia Cement denies Hualien mine expansion

13 June 2017, Published under Cement News

Asia Cement Corp has denied that it has been expanding mining operations in Hualien County, Taiwan,  following accusations by a filmmaker that mining has intensified at the site, the Tapei Times reports. Documentary filmmaker Chi Po-lin made the comments in May 2017 whilst filming a sequel to his aerial photographic documentary ‘Beyond Beauty: Taiwan From Above. Chi subsequently died in a helicopter crash last Saturday but his aerial footage of the Sincheng site has resulted in widespread ...

Creditors seek to sell Hyundai Cement stake

24 May 2016, Published under Cement News

Creditors of Hyundai Cement seek to sell their majority stake in the South Korean cement producer as early as July, according to local news reports. State-run Korea Development Bank (KDB), the largest stakeholder of Hyundai Cement with a 27.94 per cent stake, and other creditor banks including KEB Hana Bank hold a combined 95 per cent stake. The speeding up of the sales process comes as uncertainties over the cement maker’s payment guarantee in the Pi City development project have bee...

China: Asia Cement and CNBM halt Shanshui offer

11 May 2016, Published under Cement News

Following nine months of consideration, Asia Cement and CNBM have said they will not proceed with plans to buy the shares they do not already own in Shanshui Cement. In a statement issued 10 May, the two companies, which combined own nearly 38 per cent stake in the Chinese cement maker, said they have concerns regarding the changes in Shanshui’s board, ongoing disputes and financial difficulties. They said the prolonged suspension of the shares has affected the ability to determine the va...