Displaying items by tag: South Korea

World: Global steel production rose by 4.6% year-on-year to 1.81Bnt in 2018 from 1.73Bnt in 2017. Data from the World Steel Association shows that production rose fastest in the Middle East, Africa and Australasia. Asian production rose by 5.6% to 1.27Bnt and North American production grew by 4.1% to 121Mt. European production remained static at 312Mt, with a slight dip in the European Union (EU) balanced by slight growth in the Commonwealth of Independent States (CIS). China remained the largest steel producing country, with 9.28Mt in 2018. It was followed by India, Japan, the US and South Korea.

South Korea: Baring Private Equity Asia has sold Halla Cement to Asia Cement for US$723m. The combined business will be the third largest cement player in Korea, with a combined market share of 19%.

Baring Private Equity Asia bought Lafarge Halla Cement from LafargeHolcim in 2016. It took full control of the cement producer in 2017. It was then reported to be shortlisting potential buyers for the company in September 2017.

Halla Cement operates one cement plant at Okgye and three slag cement grinding plants. It has a cement production capacity of 7.6Mt/yr. It also runs 11 distribution centres in the country, consisting of seven coastal and four inland centres.

South Korea: Ssangyong Cement has purchased a 100% stake in Daehan Cement for US$232.8m. Ssangyong Cement has signed an agreement with Hahn & Company to buy the stake from the private equity firm, according to the Maeil Business Newspaper. Daehan Cement is the country’s largest slag cement producer. Ssangyong Cement’s purchase is expected to preserve the cement producer’s market lead against Hanil Cement which bought Hyundai Cement earlier in 2017.

South Korea: Yoo Gyeong CM has ordered a Loesche mill to grind granulated blast furnace slag at its KyungNam terminal. It will use a LM 41.2+2 CS type Loesche mill with a capacity of 90t/hr at 4500 Blaine. The gearbox of this mill will have a power output of 2800kW.

The scope of supply for this order includes the filter, the fan and the hot gas generator. All of the equipment is to be delivered in 6 - 9 months' time and the mill is to be put into operation as early as October 2016.

Yoo Gyeong CM owns gravel works which it has equipped with its own cement mixing and loading terminals. It currently purchases ground slag to operate its plants.

South Korea: South Korea's steelmaker POSCO has offloaded its shares in POSFINE Co, a slag powder producer, to a private equity fund for an estimated US$27.5m.

Under the deal, POSCO sold its 69.22% stake in POSFINE to Hahn & Co. The move came two months after POSCO had opened talks with the fund in line with its reorganisation efforts. Hahn & Co also reportedly plans to acquire the remaining shares in POSFINE from Tongyang Cement & Energy Corp, Lafargehalla Cement Corp and SSangyong Cement Industry Co.