Acquisition Agreement for 70% Stake in Toray BSF Korea
Battery Separator Production at Gumi Plant, Gyeongbuk
Toray Advanced Materials is newly entering the separator business, one of the four core materials for batteries.
On the 1st, Toray Advanced Materials announced that it has signed a share acquisition agreement for 70% of the shares of Toray Battery Separator Film Korea (hereinafter Toray BSF Korea), a Korean subsidiary of Japan's Toray.
Located in Gumi, Gyeongbuk, Toray BSF Korea is a key production base of Japan's Toray, a global leading company in battery separators. As a specialized separator manufacturer, it possesses advanced film-forming technology and has a diverse product portfolio including electric vehicles, electronic devices, industrial use, and energy storage, supplying separators to leading battery companies both domestically and internationally.
Toray Advanced Materials holds numerous advanced material businesses related to electric vehicles and next-generation mobility, such as release films for EV MLCCs, aramid for motor insulation paper, nonwoven cotton for EV sound absorption materials, PPS resin for EV thermal management modules, and lightweight carbon fiber composites. Taking this acquisition as an opportunity, it plans to consolidate the capabilities of Korea Toray and shift the management system of Toray BSF Korea to be centered on Koreans. The company aims to expand cooperation with customers and contribute to strengthening the K-battery industry value chain.
Toray Advanced Materials stated, "Premium separator demand is expected to increase in the rapidly growing global electric vehicle market," adding, "Based on world-class technology, we plan to actively respond to domestic and international customer needs and provide optimal solutions."
Through active M&A, including the acquisition of the carbon fiber prepreg business, a high-strength lightweight material, in 2021, and the acquisition of a water treatment operation management specialist company in March this year, Toray Advanced Materials is expanding its business portfolio centered on eco-friendly businesses with this separator business acquisition.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
