THE INVESTOR

메뉴열기
January 18, 2020

SKC to complete takeover of world's top copper foil maker for US$1b

PUBLISHED : January 06, 2020 - 16:50

UPDATED : January 14, 2020 - 09:38

  • 본문폰트 작게
  • 본문폰트 크게
  • 페이스북
  • 트위터
  • sms

SKC Inc., a chemical unit of SK Group, said on Jan. 6 that it will acquire KCF Technologies Co., the world's top producer of copper foil for lithium-ion batteries, this week in a bid to diversify its business portfolio.

SKCFT Holdings Co., a subsidiary of SKC, is set to buy a 100 percent stake in KCFT from Kohlberg Kravis Roberts & Co., a U.S-based private equity fund, for 1.19 trillion won (US$1 billion) on Jan. 7.

"The acquisition is meant to expand mobility business,” SKC said in a regulatory filing.

SKC headquarters
Yonhap




KCFT was the top player in the global cooper foil market in 2018, with a 15 percent market share. The global copper foil market came to $1.2 billion in 2017, up 41 percent from $850 million in 2016, according to KCF Technologies.

Its major customers include electric vehicle (EV) battery makers LG Chem Inc., Samsung SDI Co. and Panasonic Corp.

Copper foil is used as the negative electrode current collector of a lithium ion battery.

SKC, whose business area includes producing polyester film as well as materials for semiconductors and cosmetics, has said it expects KCFT to be its new growth engine in line with the expanding EV market.

By Park Ga-young and newswires (gypark@heraldcorp.com)

  • 페이스북
  • 트위터
  • sms
최상단으로
Herald Corporation|CEO : Kwon Chung Won
Publisher. Editor : Kwon Chung Won
Chief Privacy Officer & Juvenile Protection Manager : Yang Sung-jin
Title : The Investor|Date of registration : 2015.04.28
Company Registration No. 104-81-06004
Mail-Order Business Registration 2016 - Seoul Yongsan - 00590
Huam-ro 4-gil 10, Yongsan-gu, Seoul, Korea
T : +82-2-727-0114|Business info
Gov’t registration No. Seoul 아04099
COPYRIGHT HERALD CORPORATION. ALL RIGHTS RESERVED.