[Public Notice+] Mplus Secures Contract Worth 31.1 Billion KRW... Order Backlog Nears 150 Billion KRW

[Asia Economy Reporter Jang Hyowon] M Plus (CEO Kim Jongsung), a manufacturer of automation equipment for secondary battery assembly processes, announced on the 9th that it has signed a contract worth 182.4 million yuan.

The contract period is until June 15, with a value of approximately 31.1 billion KRW, which corresponds to 39.86% of the 78.1 billion KRW sales in 2018.

An M Plus representative stated, "Since a shortage of batteries for EVs is expected from 2022, we anticipate that new investments from global clients will expand this year and next year. Starting with this contract, we will actively continue sales activities aiming to exceed last year's order amount of 166.8 billion KRW."

Last year, M Plus achieved its highest-ever sales of 104.3 billion KRW, and the backlog of orders carried over also reached 118.4 billion KRW. Based on these solid business results, the company aims to grow in sales and operating profit in 2020.

An M Plus representative added, "We will complete the construction of the third factory within this month and actively respond to the demands of various global clients to achieve our goals."