Woongjin "IQcell Selected as Preferred Negotiation Partner... Specific Decision Not Yet Made"
Woongjin stated on the 15th that there are "no concrete decisions made" regarding reports that it will enter the secondary battery business through the acquisition of EQCell.
In a clarification disclosure on the same day, Woongjin said, "The company has been reviewing various measures to secure new growth engines and enhance business value." It added, "We have been notified that we have been selected as the preferred bidder for the acquisition of EQCell shares. However, no concrete decisions have been made so far."
EQCell is a company specializing in the manufacturing of equipment and core devices necessary for the production of secondary batteries, semiconductors, and other products.
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Woongjin plans to make a further disclosure if any concrete decisions are made regarding this matter or within a month (by December 14).
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