SKC Completes Acquisition of Global Copper Foil Manufacturer KCFT

[Asia Economy Reporter Hwang Yoon-joo] KCFT, the world's No.1 manufacturer of copper foil, a key material for electric vehicle batteries, is newly starting as an investee company of SKC. SKC will expand its mobility business and accelerate 'deep change' together with KCFT.

On the 7th, SKC will complete the full payment for KCFT shares and finalize the acquisition process. Accordingly, KCFT will become a 100% investee company of SKC. SKC officially announced the acquisition of KCFT on June 13 last year and has been proceeding with acquisition procedures such as domestic and overseas corporate merger filings.

Copper foil is a film made by thinning copper through advanced processing technology and is a key material used in the anode of secondary batteries. The thinner it is, the more anode active material it can hold, which is advantageous for increasing battery capacity and reducing weight.

KCFT possesses the world's best technology and productivity. In October last year, KCFT demonstrated overwhelming technological prowess by mass-producing ultra-thin copper foil with a thickness of 4㎛, the thinnest in the world, in a 1.4m wide and 30km long roll, the longest in the world, using proprietary technology. SKC plans to combine KCFT's technology with SKC's 40 years of film technology know-how to develop and supply thinner and higher-quality products.

Production capacity will also be expanded in line with the rapidly growing battery market. As demand for batteries such as electric vehicles surges, copper foil supply is insufficient compared to demand. KCFT has set a goal to increase production capacity to more than four times the current 30,000 tons by 2025. In October, KCFT signed an investment agreement with Jeollabuk-do Province and Jeongeup City to expand the 5th plant at the Jeongeup factory by about 10,000 tons of production capacity by the first half of next year.

In the future, KCFT is also considering global expansion. Entering markets such as the United States, Europe, and China, where battery customers exist, will allow quick responses to customer requests. These regions have available space at SKC production facilities, so entering these markets would create significant synergy effects in terms of speed of establishing bases and other aspects.

With the acquisition of KCFT, SKC can further strengthen its future growth engine, the mobility business. An SKC official said, "We have been continuously making deep change efforts focusing on mobility, semiconductors, displays, and eco-friendly sectors. We will expand the mobility business with KCFT, enhance the competitiveness of the domestic materials industry, and strive to pursue the happiness of all members."

This content was produced with the assistance of AI translation services.