South Korea: Baring Private Equity Asia and Glenwood Private Equity have completed their acquisition of Lafarge Halla Cement from LafargeHolcim. The company will be rebranded as Halla Cement.
“The Baring Asia team impressed us with its knowledge and experience within the cement industry, and we have confidence in their ability to support our growth in the future. The industry in Korea is seeing a period of strong demand and we expect that to continue in the medium- to long-term, so we are looking forward to capitalising on this as an independent company,” said Jong Goo Moon, CEO of Halla Cement.
Halla Cement operates one 7.6Mt/yr integrated cement plant with four kilns. It runs two slag grinding plants located in Gwangyang, Jeonnam and Pohang, KyongSang with a capacity of 0.8Mt/yr and 1.5Mt/yr respectively. It also operates 10 distribution centres in the country. The company employs around 500 workers.