[Public Notice+] Philoptics Decides on Physical Division of Secondary Battery Division

[Asia Economy Reporter Oh Ju-yeon] Philoptics, a leading company in OLED and secondary battery laser process equipment, announced on the 17th that it will spin off its secondary battery business division to strengthen business competitiveness.

Philoptics disclosed yesterday that its board of directors resolved to spin off the secondary battery business division in order to proactively respond to the increasing demand for secondary battery process equipment. The newly established company through the spin-off will be "PBM Co., Ltd.," and the effective date of the spin-off is April 1.

Global demand for secondary batteries is expected to grow at an average annual rate of 38%, from 248 gigawatt-hours (GWh) this year to 866 GWh by 2023. Major domestic and international secondary battery manufacturers are expanding large-scale production capacity (Capa) in line with the increasing demand, and accordingly, demand for secondary battery process equipment is also rising.

A Philoptics official stated, "We decided on the spin-off to strengthen the capabilities of each business division and improve the efficiency of management resources while minimizing management risks. Through swift decision-making, we plan to quickly respond to customer requirements and strengthen competitiveness through specialization of the business division to solidify our position in the secondary battery market."

Meanwhile, Philoptics also announced that it will hold an extraordinary general meeting of shareholders on February 27 at its headquarters located in Suwon, Gyeonggi-do, to approve the spin-off of the secondary battery business division.

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