‘Advanced Materials’ acquires shares in BSF Korea
Transformation of BSF management system to Korea
Toray, a Japanese separator company, changed its Korean production corporation to a Korean subsidiary. It is interpreted for the purpose of strengthening cooperation with domestic battery makers.
Toray Advanced Materials, a subsidiary of Toray, announced on the 1st that it would acquire a 70% stake in Toray Battery Separator Film Korea (Toray BSF Korea), a key production corporation of Toray. Toray BSF Korea was previously 100% owned by Toray. Once the acquisition agreement is signed, the remaining 30% will be maintained as a stake in Toray Headquarters.
Toray Advanced Materials is a chemical materials company headquartered in Magok-dong, Gangseo-gu, Seoul. It also produces advanced materials related to mobility, such as release films for electric vehicle multilayer ceramic capacitors (MLCC). Toray Advanced Materials said, “Demand for premium separators is expected to increase in the rapidly growing global electric vehicle market.”
Toray plans to contribute to strengthening the domestic battery supply network by developing Toray’s business capabilities in Korea through this reorganization of the governance structure. To this end, Toray BSF Korea’s management system will also be converted to a Korean-centric one. Jeon Hae-sang, CEO of Toray Advanced Materials Korea, directly leads Toray BSF Korea.
Separator is one of the four core materials of a battery along with cathode and anode materials and electrolyte. According to the industry, separators account for 10 to 20 percent of added value in battery production. According to market research firm SNE Research, Korea accounted for 23% and Japan 19% of the global separator market in terms of supply last year. China was 56%. This is why cooperation between Korean and Japanese companies is becoming more important amid accelerating reorganization of electric vehicle and battery supply chains around the world, such as the full-scale implementation of the US Inflation Reduction Act (IRA).
An industry insider said, “As the three domestic battery companies, LG Energy Solutions, Samsung SDI, and SK On, are expected to lead the North American market in the future, cooperation with major material companies is also expanding.” It is a strategy to promote cooperation with companies in earnest.”
Source: Donga
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