LS Cable & System
[Asia Economy Reporter Ki-min Lee] LS Cable & System is purchasing additional land around its factory in Poland that produces battery components for electric vehicles and is considering expanding the factory.
According to LS Cable & System on the 7th, the company purchased a 30,000㎡ site near its second factory under construction in Zi?bice, southwestern Poland, on the 1st of this month. LS Cable & System explained that the land near the second factory was acquired in preparation for medium- to long-term business expansion, and no specific plans for expanding or adding production facilities have been finalized yet.
The second factory is currently being built on a 98,000㎡ site and is expected to be completed around December this year.
LS Cable & System plans to supply electric vehicle battery components manufactured at the second factory, along with those from the first factory completed in May last year in Zi?bice, Poland, to LG Chem. Previously, LS Cable & System secured a supply contract worth approximately 570 billion KRW from LG Chem.
The first factory of LS Cable & System is the first local factory established by a Korean cable company in Europe. This factory produces components for electric vehicle batteries and optical cables for communication.
LS Cable & System established an electric vehicle battery components corporation (LSEVP) in Poland in November 2017, and as the European optical cable market rapidly grew, it also established a local optical cable production corporation (LSCP) in February 2018.
LS Cable & System operates 18 factories in seven countries including Poland, India, and Vietnam, and is constructing related facilities in Egypt and Indonesia as well.
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