Almek Passes Preliminary Review for KOSDAQ Listing... Full-Scale IPO 추진

Almek, a global aluminum parts specialist for electric vehicles (CEO Shin Sang-ho), announced that it received preliminary approval for KOSDAQ listing from the Korea Exchange on the 27th and will officially proceed with the public offering (IPO) process.

Almek, an aluminum extrusion material parts specialist, is headquartered in Changwon and originated from Gyeongnam Metal, established in 1973, with a history spanning 50 years.

The company's main business focuses on electric vehicle-specific products, including ▲battery (secondary battery) module cases ▲battery pack frames ▲electric vehicle platform frames. In particular, it holds the No. 1 domestic market share for aluminum module cases that protect batteries from external impacts. Major customers include global EV battery manufacturers and overseas electric vehicle companies such as LG Energy Solution, SK On, GM, RIVIAN, and Lucid.

Almek's greatest competitive advantage lies in its ultra-precision extrusion technology and crash absorption material (Crash Alloy) technology applied to automotive safety parts. It is the only company in Korea certified by global automakers for high-strength crash absorption materials. Based on this technological capability, it has established joint ventures with overseas clients and formed strong partnerships, securing a competitive edge in the market.

In line with the growth of the global electric vehicle market, Almek has focused on investing in its Milyang and Sacheon factories over the past few years, continuously expanding production capacity. The funds raised through the upcoming KOSDAQ listing will be primarily invested in establishing local factories in the United States and expanding domestic and international production facilities.

Last year, on a consolidated basis, the company achieved sales of 156.7 billion KRW and an operating profit of 11.3 billion KRW, marking an 89.3% increase in sales and a turnaround to operating profit compared to the previous year (2021). The company expects to maintain a high growth trajectory by responding to the global demand for electric vehicle parts through secured production capacity and additional investments.

Shin Sang-ho, CEO of Almek, stated, “Through the listing, we will further strengthen the company’s technological competitive advantage and maximize corporate value by increasing production capacity to meet the growing demand in the electric vehicle market.” He emphasized, “We will leap forward as a global leader in the electric vehicle and secondary battery material parts industry.”

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