Hanatech to Supply 11 Billion KRW Worth of Secondary Battery Assembly and Formation Process Equipment

[Asia Economy Reporter Hyunseok Yoo] Hana Technology, a specialized manufacturer of secondary battery equipment, announced on the 28th through a single sales supply contract disclosure that it has signed a contract worth 11 billion KRW for prismatic battery assembly and formation process equipment.

The contract amount corresponds to 12.6% of the 2020 sales revenue of 88 billion KRW. The contract period for the assembly and formation process equipment is from the day before until April 29 of next year. The equipment is scheduled to be supplied to a US battery manufacturer. The contracting party was not disclosed.

A company official stated, "Last year, investment by global customers was delayed due to restrictions on personnel and logistics movement caused by COVID-19," adding, "Starting with the order disclosure announced today, we expect strong growth for the company this year through the overall recovery of the domestic equipment market and additional orders from Europe and the United States."