Seltec, Full Effort to Normalize After Rehabilitation Procedure Ends... "Preparing to Leap Forward with Renewable Energy and Secondary Batteries"

Celtech, which concluded its rehabilitation process after 1 year and 6 months, announced on the 8th that it is fully committed to business normalization and preparing for a new leap forward.

Celtech recently received a court decision to conclude the rehabilitation process. Established in 2012, the company specializes in manufacturing secondary battery production equipment and maintained growth until 2019, attracting substantial institutional investments and gaining attention as a promising investment company.

However, due to the global COVID-19 pandemic, overseas factory operating costs and risks increased, leading Celtech to apply for rehabilitation in December 2021, with the process commencing in January 2022.

A Celtech representative stated, “We are making thorough preparations to relocate to our existing factory in Incheon and immediately resume production. Our core R&D personnel remained steadfast during difficult times, which enabled us to overcome challenges.”

They added, “Moving forward, we will lead the trends in the renewable energy and secondary battery sectors, focusing on our core technical staff, and turn these into new growth engines. We will strive to achieve early business normalization and continuous profitability growth with the goal of going public.”

Meanwhile, according to the rehabilitation plan, Hanchang acquired Celtech, and the plan was approved in December last year. After the rehabilitation process concluded, in July, Celtech was incorporated as a subsidiary of Hanjoo Chemical, which is a 100% subsidiary of Hanchang.