Cement News tagged under: South Korea

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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...

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.

South Korean investors looking at DRC limestone deposit

22 October 2018, Published under Cement News

A group of South Korean investors visited the Bakwa Tshiluila limestone deposit in Kasai Oriental province, Democratic Republic of Congo (DRC). Their mission was to carry out feasibility studies in cement production, diamond mining and agriculture. Investors were interested in the quality of limestone but reportedly voiced concern over the power supply to the area.

Ssangyong inaugurates largest cement WHPG

19 September 2018, Published under Cement News

South Korea’s Ssangyong Cement Industrial Co inaugurated the largest waste heat power generator (WHPG) in a cement plant, according to the Maeil Business Newspaper. The 43.5MWh WHPG has been installed in the company’s Donghae works in Gangwon Province. The KRW100bn (US$889.4m) is expected to save power costs equivalent to a third of the cement plant’s production costs as it is expected to produce around 280,000MWh of electricity. The WHPG consists of 11 boilers and turbines plus cooling to...

South Korea to impose stricter air pollution levels

29 June 2018, Published under Cement News

The South Korean government has tightened emission standards for air pollutants of fine-dust producing businesses such as coal-fired power plants, cement factories and steelmaking facilities. The Ministry of Environment announced Wednesday that it will cut the permissible limits for nitrogen oxide, sulphur oxides and fine dust to PM 2.5, particulate matter (PM) with a diameter of less than 2.5μm, for 31 facilities engaging in coal-fired power generation, steelmaking, oil refining and cemen...

Ssangyong Cement to increase energy-efficiency of Donghae plant

05 June 2018, Published under Cement News

South Korea’s Ssangyong Cement Industry Co has announced plans to increase the energy-efficiency of its Donghae plant. The project includes the installation of a waste heat power generator with an energy storage system, which is expected to be operational by August. The company expects the waste heat power generator to help the facility save approximately 33 per cent of electricity, amounting to KRW25.7bn (US$24m), reports the Maeil Business Newspaper. Ssangyong Cement has announced a ...

Three million shares in Sampyo Cement to be sold

04 May 2018, Published under Cement News

Tongyang Networks Corp says it plans to sell three million shares in Sampyo Cement Co Ltd, a South Korean cement firm, for KRW13.72bn (US$12.8m). Sampyo Cement is a slag cement producer with a cemnt capacity of 11Mta that owns the Samcheok integrated plant producing Portland cement and a grinding plant in Donghae, as well as two slag cement plants in Gwangyang and Busan.

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 Co to acquire Halla Cement Corp

15 November 2017, Published under Cement News

Asia Cement Co is preparing to acquire Halla Cement Corp with a reported bid between KRW700bn (US$627m) and KRW800bn, according to Deal Street Asia. The South Korean company Halla Cement operates one integrated cement plant with a cement production capacity of 9Mta. The company reported EBIT of KRW62.8bn in 2016, an increase of 43 per cent YoY. This move will increase Asian Cement’s share of the South Korean market from seven to 20 per cent.