NanoTeam, a specialized company in electrification thermal management materials, announced on the 27th through a public disclosure that it has decided to acquire approximately 8,000 pyeong of land in the Dungok Science Business Belt area in Daejeon for 14.3 billion KRW to establish its 3rd factory.
The land area is 26,214㎡ (approximately 8,000 pyeong), which is 2.6 times larger than the current land area of the Daejeon headquarters at 10,183㎡. The acquisition amount is 14.3 billion KRW.
NanoTeam secured the site for the 3rd factory to supply urethane-based gap fillers (thermal adhesive) used in battery systems for its major client Stellantis. In addition to urethane-based thermal adhesives, new products will also be produced at the 3rd factory in the future. Construction of the 3rd factory is planned to start in 2024 and be completed within 2026.
This expansion is the third factory addition following the 1st factory, which was established to secure overseas clients for the existing silicone-based thermal materials, and the 2nd factory, built for the production of thermal runaway prevention pads.
A NanoTeam official stated, “Through continuous sales activities with our clients, the demand for products and volumes is steadily increasing, and ongoing technological development is creating good opportunities like the thermal runaway prevention pad business. With this land acquisition, we have laid a foundation to sufficiently respond to future demand.”
Through this new order, acquisition of the 3rd factory site, and expansion, NanoTeam has expanded its gap filler product portfolio from solely silicone-based to include urethane-based products, and plans to diversify into various new product lines such as adhesives and potting compounds.
A company representative said, “The urethane-based gap fillers we recently secured orders for are mainly used by overseas clients, and until now, global competitors from the US and Germany have dominated this market. With NanoTeam’s successful localization of urethane-based gap fillers, we now have opportunities to secure both domestic and overseas customers.”
Yoonseong Choi, CEO of NanoTeam, said, “Thanks to the technical advantages, price competitiveness, mass production scale, and proven usage history of our products in the market, we have recently gained trust from customers. We plan to expand production capacity through proactive and aggressive investments and accelerate overseas orders.”
He added, “As environmentally friendly characteristics such as PFAS-free (per- and polyfluoroalkyl substances-free), which are increasingly important, become more prominent, we are meeting the specifications required by global clients.”
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