Cement News tagged under: South Korea

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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.

Four-bidder shortlist for Halla Cement stake

19 September 2017, Published under Cement News

Four bidders have been shortlisted for the full stake in South Korea’s Halla Cement, the country’s fourth-largest cement producer. Hong Kong-based Baring Private Equity Asia, the largest shareholder of Halla Cement, and its sales advisor Citigroup Global Market Securities Korea have shortlisted four potential buyers: three strategic investors – Asia Cement Co, Sungshin Cement Co and Aju Corporation Co – and private equity fund LK Investment Partners. Last week a total of six investors ini...

Hyundai Cement seeks to build solar power plant

25 August 2017, Published under Cement News

South Korean cement producer Hyundai Cement Co is looking to build a photovoltaic (PV) power plant at its existing cement facility in Dangyang. The consortium of Hanil Cement and LK Investment Partners, which gained ownership of Hyundai Cement last month, is considering using some part of the company’s Danyang factory site in North Chungcheong Province to build a solar energy farm. It aims to improve profitability by replacing some aged facilities at the site with the green plant.

Hanil completes acquisition of Hyundai Cement

19 July 2017, Published under Cement News

Hanil Cement Co has completed the acquisition of Hyundai Cement Co in South Korea. The consortium of Hanil Cement and LK Investment Partners has paid US$552.2m for a controlling stake of 84.56 per cent stake (or 14.17m shares) of Hyundai Cement from 32 creditors, including the Korea Development Bank and Hana Financial Investment Co. The two companies formed HLK Holdings, a special purpose company, to acquire the shares. Hyundai Cement held a shareholders’ meeting on Tuesday, approving the ...

Daehan acquired by South Korea's leading producer

26 June 2017, Published under Cement News

Ssangyong Cement Industrial Co of South Korea has purchased Daehan Cement Co, the country’s largest blastfurnace slag cement producer at KRW265bn (US$232.8m). The acquisition will enable Ssangyong Cement to secure its leadership over Hanil Cement Co that recently acquired Hyundai Cement Co, a smaller rival. The deal entitles the cement manufacturer to take over Daehan Cement and Daehan Slag Co and will give the company a 24 per cent share in the domestic cement market. Daehan Cement post...

Tongyang Cement changes its name to Sampyo Cement

29 March 2017, Published under Cement News

South Korea’s cement producer Tongyang Cement & Energy Corp that had been the parent company for the now-defunct Tonyang Group has changed its company name to Sampyo Cement during its shareholders meeting held in Gangwon Province, east of Seoul, on Friday.