Cement News tagged under: South Korea
South Korea: preferred bidders named in US$567m Hyundai deal17 February 2017, Published under Cement NewsHanil 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 bids15 February 2017, Published under Cement NewsSix 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 increase06 February 2017, Published under Cement NewsSouth 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. |
South Korea: carbon emission quota increased27 January 2017, Published under Cement NewsOn 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 KRW600bn09 December 2016, Published under Cement NewsThe 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 Argos22 July 2016, Published under Cement NewsColombia’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 sale20 July 2016, Published under Cement NewsHyundai 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 down27 June 2016, Published under Cement NewsSouth 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 plant03 June 2016, Published under Cement NewsAFKO 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 stake24 May 2016, Published under Cement NewsCreditors 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... |