CEO Choi Yeon-su Holds Dual CEO Positions
Lotte Infrasell Steps Up as Battery Material Company
Lotte Packaging Solutions Differentiates with Eco-friendly Products
Lotte Aluminium officially launched two subsidiaries on the 3rd: 'Lotte Infracell (LOTTE INFRACELL)', which specializes in secondary battery materials, and 'Lotte Packaging Solutions (LOTTE PACKAGING SOLUTIONS)', which handles the packaging business, by physically splitting its existing business.
Lotte Aluminium stated, "Choi Yeon-su, CEO of the continuing company, will also serve as CEO of the two newly established subsidiaries," adding, "We aim to secure differentiated expertise through the spin-off companies to strengthen business competitiveness."
The newly established company Lotte Infracell was spun off from Lotte Aluminium's BM (Battery Material) Business Division and operates in the anode foil and general foil business.
Based on secondary battery materials, Lotte Infracell plans to build a global supply chain in Europe, North America, and other regions, developing into an eco-friendly battery materials specialist company and growing together with its customers.
The other new company, Lotte Packaging Solutions, was formerly the PM (Packaging Material) Business Division within Lotte Aluminium, engaged in cans, flexible packaging, corrugated cardboard, daily necessities, and PET bottle businesses.
Lotte Packaging Solutions embodies the commitment to improve quality of life through packaging technology and provide various solutions for a convenient life. It plans to further strengthen packaging expertise and lead the market by expanding eco-friendly items and differentiated products.
CEO Choi said, "The company split will allow us to focus on specialized business areas and enhance management efficiency, which we expect will elevate corporate value to the next level."
In 2022, Lotte Aluminium, together with Lotte Chemical, established a local joint venture, 'Lotte Aluminium Materials USA (LOTTE ALUMINIUM MATERIALS USA)', near Elizabethtown, Kentucky, USA, to secure a leading position in the eco-friendly electric vehicle battery materials market in the US. Lotte Aluminium Materials is the first anode foil production base established in the US, marking a significant collaboration between two core chemical affiliates within the group to capture future markets.
To secure demand in the European anode foil market in 2022, the company successfully completed a production plant in the T?r?kszentmikl?s industrial complex in Hungary and is currently making additional investments for the second phase, aiming for operation this year.
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