Hansung Cleantec, Establishing Local Subsidiary in Hungary as European Secondary Battery Hub
[Asia Economy Reporter Hyungsoo Park] E&C Corporation announced on the 2nd that its subsidiary Hanseong Cleantec is in the process of establishing a local corporation in Hungary to enter the secondary battery-related business. The Hungarian corporation is being established to participate in the local battery production base expansion project.
The secondary battery production plants of domestic conglomerates in Hungary supply batteries to European electric vehicle companies. As orders from European electric vehicle clients such as BMW and Volkswagen increase, investments are being expanded.
Samsung SDI is investing 940 billion KRW to build a second plant in G?d, Hungary, and SK Innovation is investing 1.2 trillion KRW to construct a third battery plant in Iv?ncsa, Hungary.
Hanseong Cleantec is promoting the establishment of a local corporation in Hungary to secure orders for electrolyte-related and air purification facilities among battery production base equipment. This is because companies owning local corporations can contract with clients during bidding.
Hanseong Cleantec, a comprehensive water treatment specialist company, is recently focusing on diversifying new businesses based on its main business of EPC (engineering, procurement, and construction) projects for ultrapure water and wastewater treatment facilities.
Previously, it secured orders for semiconductor-related wastewater treatment, PCW & GAS (Process Cooling Water & GAS), and HVAC (heating, ventilation, & air conditioning) duct construction for Samsung. It entered the Indonesian market by signing a seawater desalination plant contract worth 7.8 million USD (approximately 8.8 billion KRW) with HK (Hutama Karya), Indonesia's largest state-owned enterprise.
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Last year, Hanseong Cleantec achieved sales of 110.7 billion KRW, a 20% increase compared to the previous year. It has grown at an average annual rate of 14% over the past four years. This year, Hanseong Cleantec's order amount is expected to exceed 150 billion KRW.
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