Cement News tagged under: South Korea
South Korea: new strategies13 March 2019, Published under Cement NewsAs 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 NewsThis 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 NewsThis 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 201821 February 2019, Published under Cement NewsSouth 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 cards19 February 2019, Published under Cement NewsPrivately-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 201801 February 2019, Published under Cement NewsSouth 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 deposit22 October 2018, Published under Cement NewsA 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 WHPG19 September 2018, Published under Cement NewsSouth 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 levels29 June 2018, Published under Cement NewsThe 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 plant05 June 2018, Published under Cement NewsSouth 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 ... |