Samsung SDI and Ecopromb Established a Joint Venture
Samsung SDI and Ecopromb will establish a joint venture (JV) for the production of next-generation cathode materials.
On the 10th, Ecoproem announced the establishment of ‘ecoprom,’ a joint venture with Samsung SDI, after the board of directors’ decision. Ecoprom and Samsung SDI will invest a total of 72 billion won and 48 billion won in newly established subsidiaries by 2021, respectively.
Ecoprom is Korea’s largest cathode material company, which has accumulated the related technology and experience for 15 years since it started developing cathode materials for ultra-capacity secondary batteries in 2004, and currently occupies the second place in the world market.
With the establishment of JV, Ecopro BM plans to maximize production efficiency by producing various next-generation cathode materials in a line dedicated to Samsung SDI. Samsung SDI is expected to secure a stable supply of competitive cathode materials, thereby strengthening the cooperative relationship between the two companies.
EcopromM said, “Samsung SDI, the largest customer of Ecoprom, participated in the joint venture through a joint venture.
Earlier, EcoProm started discussions with Samsung SDI to establish a JV in August last year and concluded discussions earlier this year. After the establishment of the company is completed in February, the company will enter the land acquisition process, and after the approval of the supervisory authority, both companies will participate in the capital increase. JV’s first line is scheduled to begin construction in Pohang, Gyeongsangbuk-do this year, and is scheduled for production in the first quarter of 2022.