Cement News tagged under: South Korea
Glenwood PE to acquire Lafarge Halla18 March 2016, Published under Cement NewsSouth 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 Cement15 February 2016, Published under Cement NewsSouth 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 Korea22 January 2016, Published under Cement NewsGlenwood 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... |
South Korea: six cement producers fined05 January 2016, Published under Cement NewsSix local cement makers have been fined a combined KRW199.4bn (US$167.6m) for fixing the prices of cement products and divvying up the market by South Korea's antitrust watchdog, the Fair Trade Commission (FTC). The charged companies are: Ssangyong Cement Industry Co, Tongyang Cement & Energy Corp, Hanil Cement Co, Sungshin Cement Co, Hyundai Cement Co and Asia Cement Co. These cement producers have allegedly colluded on cement prices by controlling output and market share in 2011, accordi... |
Ssangyong Cement creditors reject Taiheiyo offer18 December 2015, Published under Cement NewsThe administration responsible for selling South Korea's Ssangyong Cement is likely to reject an offer made by Japan’s Taiheiyo Cement Corp, Ssangyong’s second-largest shareholder, to acquire all its shares. It was based on the judgment that the Japanese cement maker's offer was intended to obstruct the sale. "The offer by Taiheiyo to take over all the Ssangyong Cement stake is equivalent to saying Ssangyong must accept its claims of preemption right currently in dispute in the court," c... |
New shredding operation boosts SRF production capabilities in South Korea08 December 2015, Published under Cement NewsA new Solid Recovered Fuel (SRF) production facility is now fully operational in Wonju city, South Korea, thanks to global shredding firm UNTHA and local partner PERITUS. Korean waste management specialist Zion has built the alternative fuel manufacturing plant to make smarter use of its residual materials. Now, with the new system in place, pre-sorted construction and demolition (C&D) waste and commercial and industrial (C&I) waste, is being shredded to produce a homogenous 50mm fuel for ... |
South Korea: Loesche wins new order from Sun Cement28 October 2015, Published under Cement NewsSouth Korea-based Sun Cement Co Ltd has placed an order for a Loesche vertical roller grinding mill for granulated blast furnace slag. Plans have been made to replace the current outdated ball mill at the cement producer's Mokpo works with a new grinding plant. Loesche has been commissioned to deliver a LM 35.2+2 CS mill for the project. The vertical roller grinding mill will produce slag cement with a fineness of 4600 Blaine, at a capacity of 45tph. The capacity of the gearbox will be 160... |
South Korea: local producers to face price probe?24 July 2015, Published under Cement NewsSouth Korea's Fair Trade Commission (FTC) has initiated another investigation into whether domestic cement producers colluded to raise cement prices. According to industry sources and the FTC Friday, the antitrust watchdog conducted an onsite probe into major cement makers including Tongyang Cement & Energy and Hanil Cement in mid-July, the Maeil Business Newspaper reports.. Upon the request from the ready-mixed concrete industry, the regulator kicked off investigation into cement makers' a... |
CRH reportedly to take part in preliminary bidding for South Korean producer11 June 2015, Published under Cement NewsCRH announced it will take part in the preliminary bidding for Tongyang Cement scheduled on the 12 June after selecting Goldman Sachs as an underwriter, according to local press reports citing investment bank sources. Tongyang Cement was put on the market in early April after its parent group was liquidated. The 74.1-per cent stake held by Tongyang Corp. and Tongyang International is estimated at KWR400-600bn (US$360-540m) Tongyang Cement is ranked second on the domestic the cement market... |
Concerns raised by South Korean imports of Japanese coal23 October 2014, Published under Cement NewsLee In-young, an opposition spokesman for the New Politics Alliance for Democracy party and member of the National Assembly's Environment Labour Committee, has raised concerns over radioactive-contaminated coal bought by South Korean cement firms. The Environment Ministry received data that between 2011 to 2013 Sangyong Cement Industrial, Tongyang Cement and Energy, Lafarge Halla Cement and Hanil Cement received waste coal from the Japanese government, which was used in the production ... |