Hansong Neotek Subsidiary Signs Supply Contract for Secondary Battery Material Equipment with EcoPro Group
[Asia Economy Reporter Jang Hyowon] Hansong Neotek's secondary battery specialized subsidiary, Sinhwa IT, announced on the 16th that it has signed a supply contract worth 1 billion KRW for secondary battery automation equipment with EcoPro GEE&M, a subsidiary of the global secondary battery cathode material company EcoPro Group.
Through this contract, Sinhwa IT plans to supply production equipment for precursors, a core material of cathode materials, to EcoPro GEE&M. The supplied equipment is expected to be applied to mass production in May.
In addition to developing and manufacturing high-performance lead tabs for secondary batteries and supplying them to global battery companies, Sinhwa IT has secured its own technology since 1998 and has been manufacturing and delivering automation equipment to global companies such as LG, Bosch, and EcoPro.
Recently, Sinhwa IT has been strengthening collaboration with its parent company Hansong Neotek, a partner company of LG Energy Solution, to actively market manufacturing equipment related to secondary batteries.
A Hansong Neotek official said, “Sinhwa IT supplies high-performance lead tab products for secondary battery materials to global battery manufacturers and also possesses numerous references and core technologies for secondary battery manufacturing equipment. Recently, as companies related to secondary batteries worldwide are expanding new factories, demand for not only materials but also specialized manufacturing equipment is expected to increase.”
He added, “We plan to continue collaboration with our parent company Hansong Neotek and aim to achieve sales and profits beyond lead tabs in the mid to long term. First, we will also strengthen marketing of secondary battery manufacturing equipment to Sinhwa IT’s lead tab clients.”
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EcoPro GEE&M is an affiliate of EcoPro Group, established in 2017 through investment by EcoPro and GEM, a Chinese metal and battery recycling specialist company. It mainly produces precursors for secondary battery cathode material manufacturing and supplies them to its affiliate EcoPro BM.
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