Cement News tagged under: South Korea

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South Korea: carbon emission quota increased

27 January 2017, Published under Cement News

On 24 January the South Korean government increased the carbon emissions quota by 1700t to 539Mt and added 51Mt to emission rights in view of companies’ efforts for greenhouse gas reduction prior to the implementation of emissions trading. Community energy suppliers and cement manufacturers are expected to benefit from the adjustment, with the price/t of carbon emission rights recently tripling from a year ago to KRW20,850 (US$17.75) in the Korea Exchange. T he government also voted fo...

South Korea: Hyundai Cement auction set to raise KRW600bn

09 December 2016, Published under Cement News

The auction of Hyundai Cement, preliminary bidding of which is scheduled for 16 December, is set to attract bids from multiple prospective buyers, with the assets expected to fetch up to KRW600bn (US$515m), reports Korea’s Pulse. Hyundai Cement currently supplies seven per cent of the domestic market, and the company’s location in the country’s interior makes it particularly attractive to Korea’s coastal cement producers, Ssangyong Cement Industrial Co, Tongyang Cement & Energy Co, and La...

Cementos Argos

22 July 2016, Published under Cement News

Colombia’s cement producers, such as Cementos Argos, will be encouraged by the signing earlier this month of a bilateral freetrade agreement between Colombia and South Korea. The agreement is designed to serve as a gateway to the Asia-Pacific markets for Colombia and a bridge to Latin America for Korean businesses, according to the Korean International Trade Association. With Colombia’s growing population and an economy expanding at over four per cent each year, South Korea sees itself...

South Korea: Hyundai Cement up for sale

20 July 2016, Published under Cement News

Hyundai Cement Co. is expected to put up for sale this year. Despite only having a small market share in South Korea, the upcoming sale is expected to bring about change in the local cement market that is fiercely competitive. Currently, South Korea’s cement market is dominated by seven major companies who hold a 90 per cent market share. Of these, Hyundai Cement ranks seventh, holding 7.38 per cent of the market share, but despite its lower position its sale will likely be a game changer...

South Korea: Sungshin shares down

27 June 2016, Published under Cement News

South Korean company Sungshin Cement has been ranked in the bottom quartile of BSS News Bites South Korean performers for the past year. The company’s performance saw it placed 1519/1756 in the ranking, a percentile ranking of 13. Sungshin shares were also down 35.3 per cent for the year ended 27 June 2016. After climbing from KRW2920 (US$2.47) five years ago to KRW15,300 (US$12.95) one year ago, share price stood at KRW9900 (US$8.38) for this last year.

Sri Lanka: AFKO group may revive KKS plant

03 June 2016, Published under Cement News

AFKO Group GMEX has expressed interest in reopening the Kankesanthurai (KKS) cement plant in the Northern Province of Sri Lanka, according to the country’s Industry and Commerce Ministry.  “We are keen to partner in the Kankesanthurai Cement Project and are ready to enter with US$450m as a start. We shall also bring in all the necessary machineries and technology and can start from scratch,” AFKO Chairman, Keun Young Lee said. He added, “We are not limited to KKS. We are keen about cement...

Creditors seek to sell Hyundai Cement stake

24 May 2016, Published under Cement News

Creditors of Hyundai Cement seek to sell their majority stake in the South Korean cement producer as early as July, according to local news reports. State-run Korea Development Bank (KDB), the largest stakeholder of Hyundai Cement with a 27.94 per cent stake, and other creditor banks including KEB Hana Bank hold a combined 95 per cent stake. The speeding up of the sales process comes as uncertainties over the cement maker’s payment guarantee in the Pi City development project have bee...

Glenwood PE to acquire Lafarge Halla

18 March 2016, Published under Cement News

South Korea’s Glenwood Private Equity (PE) has inked a deal to acquire Lafarge Halla Cement Corp. from LafargeHolcim Ltd. for about KRW630bn (US$542m), said the company Thursday. LafargeHolcim said it expects to close the sale of Lafarge Halla, Korea’s fifth-largest cement producer, in the 2Q16, subject to final approvals. The sale follows several other ownership changes in the South Korean cement market as producers battle with slack cement demand resulting in some companies relying on...

Glenwood PE & Baring Private Equity Asia reportedly make bid for Lafarge Halla Cement

15 February 2016, Published under Cement News

South Korea’s private equity fund Glenwood Private Equity and Hong Kong-based private equity fund Baring Private Equity Asia are to buy Lafarge Halla Cement Corp (South Korea) from LafargeHolcim Ltd for around KRW550bn (US$455.1m), report local media. According to investment bank industry sources on Friday, Glenwood PE, a preferred bidder of Lafarge Halla Cement, has notified LafargeHolcim, the largest shareholder of the Korean cement producer, that it selected Baring Private Equity Asia as...

LafargeHolcim planning potential disposal in South Korea

22 January 2016, Published under Cement News

Glenwood Private Equity is in talks to buy South Korea-based Lafarge Halla Cement in cooperation with Eugene Group, the country’s largest ready-mixed concrete manufacturer, and Sungshin Cement, another Korean cement maker. According to sources on Wednesday, LafargeHolcim Ltd, the majority shareholder of Lafarge Halla Cement, recently named Glenwood Private Equity as a preferred bidder for the cement business. The deal is estimated to be valued at somewhere between KRW500-600bn (US$417m-500...