Cement News tagged under: South Korea

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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.

South Korea: Sungshin Cement back in the black in 2016

24 February 2017, Published under Cement News

South Korean cement producer Sungshin Cement Co Ltd improved its revenues by 1.2 per cent to KRW686.6bn in 2016 from KRW678.7bn, according to the country’s Financial Supervisory Service. The company’s operating profit rose from KRW35.26bn to KRW36.83bn while in terms of net profit, the firm swung from a KRW33.99bn loss to a net profit of KRW12.4bn, according to preliminary and unaudited results.

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 sale bids

15 February 2017, Published under Cement News

Six contenders have submitted a bid for Hyundai Cement Company. Ssangyong Cement Industrial Co, Halla Cement Corp, IMM Private Equity, LK Investment Partners, Hyundai Sungwoo Holdings Co and PineStreet Group have each submitted terms to acquire a 84.56 per cent stake in Hyundai Cement offered by creditors. Ssangyong Cement Industrial and Halla Cement are expected to lead the buyout, as reported by Pulse News. Owned by private equity funds, the two cement makers have production bases locat...

Hyundai Cement posts better revenues but net losses increase

06 February 2017, Published under Cement News

South Korean cement producer Hyundai Cement Co Ltd saw improved revenues in 2016, rising from KRW363.19bn (US$319m) in 2015 to KRW378.86bn, according to the country’s  Financial Supervisory Service. Operating profit rose 1.6 per cent from KRW52.52bn to KRW53.37bn, but net losses increased from KRW10.98bn to KRW143.46bn. These are preliminary, unaudited results.