SKC is going to strengthen its mobility business by acquiring the world's No. 1 manufacturer of copper foil for vehicle baterteries. SKC said on June 13 that it has decided to buy a 100 percent stake in KCFT for 1.2 trillion won.
Copper foil is a thin film made of copper with high-level process technology and is considered a key material used for cathode of secondary batteries. According to industry sources, KCFT is a major customer of battery makers worldwide and has the world's best technology in manufacturing copper foil for secondary batteries.
In fact, the 4.5-μm-thick, ultra-thin copper foil, which is one-30th the size of hair, was mass-produced last month with the world's longest 50-kilometer-long roll.
As demands for electric vehicle batteries increase, SKC is planning to triple its production capacity by 2022. Through the acquisition, SKC is seen to have secured a key driving force for future growth in the mobility business.
"We will increase corporate value through this acquisition and strive to strengthen the competitiveness of South Korea's material industry." said President Lee Wan-jae of SKC.