Ssangyong acquires Daehan Cement Co.
Published by Jonathan Rowland,
Editor
World Cement,
South Korea’s largest cement producer has acquired Daehan Cement Co., the country’s largest blastfurnace slag cement producer, in a deal valued at KWR265 billion (US$232.8 million). The acquisition further consolidates the Korean cement industry, after Hanil Cement Co. took over Hyundai Cement earlier this year.
The acquisition of Daehan maintains Ssangyong’s leading position in the Korean cement sector – a position that had been threatened by Hanil’s acquisition of Hyundai.
According to IA Cement, South Korean cement demand has surged recently on the back of high public infrastructure spending, work for the 2018 Winter Olympics, rising housing prices, and multiple commercial construction projects.
The uptick in demand is not expected to last, however, with producers are bracing themselves for weaker domestic demand from 2H17, IA Cement added.
Read the article online at: https://www.worldcement.com/asia-pacific-rim/27062017/ssangyong-acquires-hanil-cement-co/
You might also like
World Cement Podcast
In the latest episode of the World Cement Podcast, Senior Editor David Bizley is joined by Dr Andrew Minson of the GCCA to discuss the ins and outs of the recently launched Low Carbon Ratings (LCR) system.
RHI Magnesita announces Q1 trading update
RHI Magnesita have provided an update on trading for the three months to 31 March 2025.
