Exion Group Acquires Business Rights for Eco-Friendly Plastic Venture to "Enhance Competitiveness"

Exion Group is acquiring the business rights for its eco-friendly plastics (polymer) business.

Exion Group announced on the 28th that it has signed a business transfer agreement with Ogen Ecotech. The transfer target is the polymer division, and the scope of assets includes tangible and intangible assets related to manufacturing, sales, and distribution, as well as related personnel.

Exion Group recently acquired Carbon Korea, which is based on carbon capture and gasification technology. This acquisition of the eco-friendly plastics division complements that. Through this acquisition, Exion Group plans to further strengthen its competitiveness in the sustainability and eco-friendly sector and expand its presence in the global market.

The polymer division being acquired holds technological and price competitiveness in the domestic plastic substitution market. The operating rates of the factories in Eumseong, Chungbuk, and Gwangju, Jeonnam, reach 97%. This division recorded sales of 12.9 billion KRW in the first half of this year. The expected sales by the end of this year are approximately 24 billion KRW. It mainly supplies battery (secondary battery) trays to its major client, Company S.

Polymer materials decompose into carbon and water under specific environmental conditions after use. Recently, they have been used as safe packaging and trays for secondary batteries, which are sensitive in the market due to fire risks. They are widely used as materials in electrical and electronic devices, packaging, containers, and medical applications.

An Exion Group representative stated, "We have entered the polymer market to secure stable sales and diversify our eco-friendly business," adding, "The performance of the polymer division will be reflected in Exion Group’s financial statements from the date of approval at the extraordinary general meeting of shareholders."

The company plans to shift its core business focus from the existing 'e-commerce' to 'sustainability and eco-friendly business' starting with this business acquisition. To achieve continuous growth of the polymer division, it intends to lead innovation and market growth based on three pillars: cost competitiveness, production scalability, and end-of-life management. Exion Group plans to have a total of four production facilities by next year through phased additional expansions. Once the expansion is complete, the polymer division’s sales are expected to approach 50 billion KRW by 2025.

A company representative said, "We are accelerating intensive reform efforts to introduce new core growth engines and restructure our business."