Cement News tagged under: Hanil Cement

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South Korean producers set to hike cement prices

06 January 2023, Published under Cement News

South Korea’s major cement producers are implementing another hike in wholesale prices amid strengthening in the key ingredient bituminous coal and construction activity, adding woes to concrete mixers and builders.   According to multiple sources from the cement industry, the country’s top cement producer Ssangyong C&E has decided to raise the price of its top-grade bulk cement to KRW93,000/t (US$77.6/t) from next month. It would be an increase of 18 per cent from current KRW78,800/t....

South Korea's cement prices rise again

04 August 2022, Published under Cement News

Cement prices in South Korea will rise for a second time this year, leaving ready-mix concrete producers to find ways to lessen the impact, reports Korea JoongAng Daily. Sampyo Cement will increase the price of cement by 11.7 per cent to KRW105,000/t from September. Buyers of Hanil Cement ’s product will pay out 15 per cent more at KRW106,000/t. Sampyo Cement increased its prices by 19 per cent in February 2022, along with Sungshin Cement, SsangYong Construction and Engineering and Ha...

South Korea's cement producers plan 18% price rise

05 January 2022, Published under Cement News

Major cement manufacturers in South Korea will be implementing a further rise in wholesale prices as the construction industry in the Asian country gathers pace, according to Maeil Business Newspaper. This follows a 5.1 per cent price rise from KRW75,000 (US$62.63)/t in July 2021, the second rise in a year following a price freeze since 2014. Ssangyong C&E has decided to lift the price of its first-class bulk cement to KRW93,000/t from February, representing an 18 per cent hike when compare...

Hanil Cement reports 3% rise in revenue

24 February 2021, Published under Cement News

South Korea’s Hanil Cement has seen a three per cent rise in revenue to KRW974.29bn in 2020, compared to KRW946.19bn in the previous year. Operating profit surged to KRW132.8bn from KRW58.95bn. Net profit also advanced 169.1 per cent YoY to KRW108.97bn from KRW40.5bn in 2019.

Hanil Cement improves drilling efficiency

15 February 2021, Published under Cement News

Hanil Cement opted to invest in an intelligent Epiroc SmartROC T35 surface drill rig from Epiroc for use at its limestone quarry near Danyang, in the north-eastern region of South Korea. For Hanil Cement’s whole machine fleet, the average number of drill metres per hour in September 2020 was 26.2, whereas for the SmartROC T35 it was 28.6. Likewise, average diesel consumption the whole fleet was 27.9lph, whereas for the SmartROC T35, it was 17.4lph. Sang-Gil Lee, Hanil Cement’s resource tea...

South Korean producers sign agreeement to reduce NOx emissions

11 June 2020, Published under Cement News

South Korea’s nine cement producers have agreed to work with the Ministry of Environment to lower NO x emissions, according to The Korea Times. Representatives of companies including Sungshin Cement and Hanil Cement, alongside officials from the ministry and the National Institute of Environmental Research, gathered at Ssangyong Cement's factory in Donghae, Gangwon Province, to sign the partnership. Cement production generates the second-highest amount of NO x emissions in the country, ...

South Korea: preferred bidders named in US$567m Hyundai deal

17 February 2017, Published under Cement News

Hanil Cement Company and LK Investment Partners have been named as the preferred bidders to acquire Hyundai Cement, reports South Korea's Pulse. The two firms submitted a bid of KRW650bn (US$567m) for an 84.56 per cent stake in Hyundai. The acquisition would make Hanil Cement the largest producer in South Korea, with a market share of more than 30 per cent. The bid values Hyundai at nearly 60 per more than its current market capitalisation of KRW486bn. A final deal is expected to be si...

South Korea: Hyundai Cement up for sale

20 July 2016, Published under Cement News

Hyundai Cement Co. is expected to put up for sale this year. Despite only having a small market share in South Korea, the upcoming sale is expected to bring about change in the local cement market that is fiercely competitive. Currently, South Korea’s cement market is dominated by seven major companies who hold a 90 per cent market share. Of these, Hyundai Cement ranks seventh, holding 7.38 per cent of the market share, but despite its lower position its sale will likely be a game changer...

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...

South Korea: six cement producers fined

05 January 2016, Published under Cement News

Six local cement makers have been fined a combined KRW199.4bn (US$167.6m) for fixing the prices of cement products and divvying up the market by South Korea's antitrust watchdog, the Fair Trade Commission (FTC). The charged companies are: Ssangyong Cement Industry Co, Tongyang Cement & Energy Corp, Hanil Cement Co, Sungshin Cement Co, Hyundai Cement Co and Asia Cement Co. These cement producers have allegedly colluded on cement prices by controlling output and market share in 2011, accordi...