EV Advanced Materials Acquires Tire Mold Manufacturer Sehwa IMC... "Restarting Global No.1"

[Asia Economy Reporter Jang Hyowon] EV Advanced Materials (formerly Act), a KOSDAQ-listed company, is acquiring Sehwa IMC, the global number one, by investing 31 billion KRW.

EV Advanced Materials announced that it decided to acquire the company to expand its electric vehicle business and challenge the global market.

EV Advanced Materials is currently establishing plans to focus on nurturing the electric vehicle business using Flexible Printed Circuit Board (FPCB) technology. FPCB is a fundamental component used in all electronic products, and the company is striving to expand its electric vehicle business by developing sensor components for in-vehicle displays as well as electric vehicle batteries.

Sehwa IMC's main business is tire mold manufacturing, supplying over 80% of its production to global tire manufacturers with its proprietary casting technology and optimized facilities. In particular, it has secured local supply capabilities in the United States, China, and Europe, making it easier to enter the global market.

An EV Advanced Materials official stated, “Sehwa IMC, which was once the global number one, has overcome difficulties, and as tire mold orders from domestic and global tire manufacturers increase, sales are rising. We will transform it once again into the world's number one tire mold specialized manufacturing company through generous support.”

He added, “Upon completion of this transaction, to restore and protect shareholder value, EV Advanced Materials will voluntarily submit a pledge not to sell all the shares it acquires. We will appoint a new board of directors composed of professional managers and executives who can contribute to the company's growth and strive to enhance shareholder value.”

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