September 30, 2022

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Solus buys back its Canadian copper foil plant

Solus buys back its Canadian copper foil plant

South Korean battery foil maker Solus Sophisticated Products Organization documented this 7 days the acquisition of its previous Canadian copper foil producing plant, as it its seems to be to improve its publicity to the North American marketplace.

Solus Sophisticated Products was beforehand acknowledged as Doosan Solus, when it was owned by Doosan Team amongst 2014 and 2020, until the South Korean industrial conglomerate offered its stake to a private equity agency to fund its battling subsidiary Doosan Weighty Industries & Construction Organization.

Solus Sophisticated Products reported in a regulatory filing this 7 days that it has re-acquired the Quebec-dependent plant, which an yearly generation capability of sixty,000 tons of copper foil used generally as a adverse electrode for the anode latest collector in lithium-ion battery cells. The company’s most important goal is the escalating North American electrical car (EV) marketplace.

The acquisition in practice gives Solus Sophisticated Products again the factory that experienced been operate by its European division right before it was acquired by Doosan Team in 2014.

According to experiences in South Korea, Solus Advancd Products options to devote in increasing the facility, with the purpose of commencing mass generation in 2024.