Cement News tagged under: South Korea

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The Korean Cement Association joins the WCA

19 March 2020, Published under Cement News

The World Cement Association (WCA) has announced that it is welcoming the Korea Cement Association (KCA) as an affiliate member of its international network. "KCA has a long history supporting the advancement of the cement and concrete industries locally, and we look forward to working with them in a global context,” explains Ian Riley, CEO at WCA. "It’s important for us to have a diverse membership that is not just made up of cement producers, and so we’re very keen to welcome other Associ...

SungShin Cement posts 11% net profit rise

21 February 2020, Published under Cement News

South Korea’s SungShin Cement has reported a full-year revenue of KRW714.64bn (US$590.2m) in 2019, 3.9 per cent up when compared with KRW688.07bn reported in 2018. However, operating profit fell 30.2 per cent YoY from KRW29.27bn  to KRW20.43bn in 2019. Net profit rose 11.4 per cent from KRW16.61bn to KRW18.5bn in 2019.

Asia Cement awards new order to KHD Humboldt Wedag

17 February 2020, Published under Cement News

Asia Cement Company Ltd (Korea) of South Korea has awarded KHD Humbold Wedag with a supply and engineering contract for the modernisation of its third clinker production line located close to Jecheon-si, Korea. The target of the upgrade project is to increase the alternative fuel substitution rate to above 85 per cent of calciner fuel, as well as the reduction of NO x to satisfy local emission limits. The commissioning of the modernised production line is planned for the first quarter 202...

South Korean producers to reduce coal ash imports

19 August 2019, Published under Cement News

South Korean cement producers are expected to reduce the usage of imported coal ashes, on the back of concerns about contamination and the ongoing trade dispute with Japan. As a result, the Korean Cement Association has stated that the use of materials from domestic thermal power plants and secure alternative raw materials from clay mines will increase despite an unstable supply. "The cement industry will actively cooperate with the Environment Ministry's plan to strengthen the environmen...

Unitherm-Cemcon supplies MAS burners to South Korean plant

17 May 2019, Published under Cement News

Unitherm-Cemcon has commissioned a MAS burner for a South Korean cement producer in May 2019. The start-up took just four days. The Austrian burner company won a contract to supply three MAS kiln burners at a South Korean plant in late 2018. The first burner was delivered in February 2019 and the remaining two in March 2019. The scope of supply included two MAS/4/KO.SO burners for coal and heavy oil with 43MW and one MAS/7/KO.SO.X rotary burner for coal, heavy oil and solid fuels with 87...

South Korea: new strategies

13 March 2019, Published under Cement News

As South Korea’s economy dips and government policies negatively influence infrastructure plans, the country’s cement industry remains at overcapacity amid stagnant levels of demand. Moving forward, producers must find new strategies to operate competitively in this challenging market. By Manas Tamotia, LEK Consulting, Singapore. With South Korean cement plants mainly located in the central and eastern coastal areas, cement producers face high distribution costs to deliver their pr...

Ssangyong Cement to look for new owners?

25 February 2019, Published under Cement News

This week the potential for further consolidation in South Korea's cement market was heightened when Asia Today reported that Hahn & Co Cement Holdings could be looking to sell its 77.44 per cent majority share ownership in Ssangyong Cement later this year. The latest development in South Korea's cement sector consolidation comes amid increasingly challenging market conditions. Falling cement demand South Korea's cement demand fell by 11 per cent in 2018, according to analysts Mira...

Ssangyong Cement to look for new owners?

22 February 2019, Published under Cement News

This week the potential for further consolidation in South Korea's cement market was heightened when Asia Today reported that Hahn & Co Cement Holdings could be looking to sell its 77.44 per cent majority share ownership in Ssangyong Cement later this year. The latest development in South Korea's cement sector consolidation comes amid increasingly challenging market conditions. Falling cement demand South Korea's cement demand fell by 11 per cent in 2018, according to analysts Mira...

Sungshin Cement reports 33% rise in net profit in 2018

21 February 2019, Published under Cement News

South Korea-based Sungshin Cement Co reported its preliminary and unaudited results for 2018. The company saw a 6.3 per cent increase in revenues to KRW688.12bn (US$611.4m) in 2018 from KRW647.19bn in the previous year. However, the company’s operating profits slipped by 6.7 per cent from KRW32.8bn in 2017 to KRW30.61bn one year later. Its net profit rose 32.6 per cent from KRW12.12bn in 2017 to KRW16.07bn.

Sell-off Ssangyong Cement on the cards

19 February 2019, Published under Cement News

Privately-held investment fund company Han & Co, is expected to sell off Ssangyong Cement in the second half of this year, according to Asia Today. The minimum sales amount is estimated to be KRW2.5trn (US$2.22bn). HanCo Cement Holdings holds a 77.44 per cent stake in Ssangyong Cement after becoming a majority shareholder in 2016. Upon acquisition Ssangyong Cement included car electric parts, parts and oil distribution businesses by HanCo restructured the business around cement and impro...