Displaying items by tag: South Korea

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.