Hanil looks to strenghten global future, Korea
Hanil Cement has been providing the building materials for decades of Korea’s real estate projects, and has now grown into a company with an annual production capacity of 8.1Mt of cement, 24 subsidiaries including eight firms abroad and assets of 1.35 trillion won (US$1.2bn) as of 2009.
Last year, the company booked a net profit of it marked net profits of 40.4bn won (US$36m) in 2009.
Financial experts forecast a solid future for Hanil Cement even in the midst of a cement and construction materials industry beset by deteriorating operating conditions.
“Among cement manufacturers, Hanil Cement has the greatest market share as well as competitive prices and a high profit margin,” said Jung Bong-soo, chief analyst at Korea Investors Service.
Since 2008, the cement industry has been struggling through adverse foreign exchange rates as well as a steady climb in the price of bituminous coal, the raw material for making cement. Hanil Cement has maintained its high productivity levels and retains a solid financial soundness. Even if the local cement industry goes into a double dip downturn in the near future as feared, Hanil Cement is the company that can weather it most well.”
In the long term, Hanil Cement sees the maintenance and reinforcement of buildings and civil engineering projects as its core area of growth. Moreover, the company is looking to develop Remital as a specialized brand with international appeal - and has already targeted the do-it-yourself markets of Japan and Mongolia. Having established its position in the domestic market, Hanil Cement’s vision is to grow to a global company with competitive ability in foreign markets. Published under Cement News
