SKC's subusdiary makes new investment to boost copper foil production
SEOUL, AJU - SKC, a leading polyester film and chemical material manufacturer in South Korea, will beef up the production of high-quality thin copper foils for lithium-ion electric vehicles through a new investment to add a production line at its subsidiary, SK nexilis.
SKC said that it would invest some 120 billion won ($97.5 million) to expand production at the plant of SK nexilis in Jeongup, some 210 kilometers (130 miles) southwest of Seoul. The plant's annual production of thin copper foils will increase to 52,000 tons in the first half of 2022.
SKC, a unit of South Kora's SK Group, has selected copper foil, a key material for secondary batteries, as one of the group's future growth engines. Last year, SKC acquired KCF Technologies (KCFT), a producer of copper foil for lithium-ion batteries, from Kohlberg Kravis Roberts, a U.S-based private equity fund. KCFT changed its name to SK nexilis.
SKC said the new investment in SK nexilis is aimed at preempting the fast-growing copper foil market. The company said it would consider extending global operations to respond quickly to demands from customers in the U.S., Europe and Asia.