EVE Advanced Materials Acquires SC Engineering and Cellontec... "Executing Business Diversification"

EV Advanced Materials (CEO Choi Dong-rak) announced on the 19th that it has signed a management rights transfer agreement to acquire all shares of Wo & Company, the largest shareholder of SC Engineering, and all shares of SC Engineering held by CEO Kim Geon-woo.

Through this agreement, EV Advanced Materials will become the largest shareholder of Wo & Company, the largest shareholder of SC Engineering, and the largest shareholder of SC Engineering itself, thereby exercising management rights over SC Engineering and its subsidiary Cellontec.

SC Engineering is achieving favorable performance in the third quarter of this year, supported by the steady growth of its EPC (Engineering, Procurement, and Construction) business and its subsidiary Cellontec, which operates in the healthcare and bio industries.

The EPC business has secured new orders exceeding 250 billion KRW through the third quarter of this year. It has significantly expanded its order base in advanced new growth sectors such as hydrogen, secondary batteries, and specialty chemicals, accumulating record-high order volumes through the third quarter.

The healthcare business has seen growth in sales and profits centered on the "Switch On Diet Program." Recently, the health functional food "Switch On" received the 2024 Korea Consumer Brand Award.

The growth of subsidiary Cellontec is also noteworthy. It is expanding domestic and international sales channels for products such as Cartizol, an intra-articular injection based on bio-collagen raw materials; Terapil, a cosmetic filler; and Regenseal, used for tendon and ligament reconstruction. Since June, it has increased its growth by conducting joint marketing of Cartizol with LG Chem, Dongkook Pharmaceutical, and Kolon Pharmaceutical. Cellontec is also actively expanding into overseas markets, having signed supply contracts with six companies in three countries, including China’s Sahuan Pharmaceutical, over the past year, securing a total minimum order quantity (MOQ) of 120 billion KRW.

EV Advanced Materials expects business diversification and sustainable growth through this acquisition and plans to maximize synergy effects with SC Engineering and Cellontec to strengthen competitiveness in the global market.