Halla Cement Corp

Asia Cement Co Ltd announced plans to buy 3.3 million shares of Halla Cement Corporation for 50.0 billion won, increasing its stake to 100%.

Hanjeon Industrial Development announced a 25.38 billion won contract with LIK Power for technical operation services of a waste heat power generation plant at Halla Cement's Okgye plant. The contract runs from June 8, 2020 to June 7, 2033.

Asia Cement acquired Halla Cement for US$723 million, adding 7.6 million tonnes per annum of cement capacity and becoming the third largest cement producer in South Korea.

Asia Cement announced it has decided to acquire a 100% stake in Halla Cement for 365.1 billion won (US$335.29 million) to strengthen competitiveness in the cement industry.

Asia Cement Co is preparing to acquire Halla Cement Corp with a reported bid between KRW700bn and KRW800bn. Halla Cement operates an integrated cement plant with 9Mta capacity.