Cement News tagged under: Ssangyong Cement Industrial Co
Ssangyong Cement reports 6% drop in net profit05 August 2020, Published under Cement NewsSouth Korea’s Ssangyong Cement has reported a six per cent YoY decline in net profit to KRW53.7bn (US$45.1m) in the second quarter of 2020, compared to KRW57.1bn in the year-ago period. However, operating income advanced 7.5 per cent to KRW90.7bn from KRW84.4bn. Revenue fell 9.2 per cent YoY to KRW385.2bn in the 2Q20. |
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... |
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... |
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 ... |
Daehan acquired by South Korea's leading producer26 June 2017, Published under Cement NewsSsangyong 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... |
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... |
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... |
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... |
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... |
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 ... |