ITEC Expands Stake in Graphene Company 'Neoenfra'

[Asia Economy Reporter Hyungsoo Park] ITEC has expanded its management control by acquiring additional shares of Neoenfra.

ITEC announced on the 26th that it increased its total stake in Neoenfra to 71.71% by acquiring additional shares. It expects rapid growth as Neoenfra advances its graphene business.

Neoenfra is an advanced new materials specialist company focused on graphene. It has succeeded in mass synthesizing high-purity graphene and mass-producing graphene fibers. It supplies graphene fibers through companies such as Huvis, Ilsin Spinning, and Hyosung.

Neoenfra expects double-digit growth in sales and operating profit by expanding the application of graphene materials across all industries including cosmetics, daily necessities, home appliances, medical devices, and beauty devices.

Graphene is a future-oriented new material that can be used throughout daily life due to its excellent electron mobility and electrical conductivity, applicable in electricity, electronics, semiconductors, defense industry, and roads.

In addition to its core system semiconductor testing business, ITEC has diversified its business through equity investments in Samsung Medicos, a cosmetics ODM/OEM company; Songjeong Pharmaceutical, a vaccine distribution specialist; Dongwoo Tech, a cold chain specialist; and Neoenfra, a graphene new materials development company. This year, it aims to strengthen corporate competitiveness by expanding its scale and improving its financial structure compared to the previous year.