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Doosan Solus starts mass-producing battery copper foil in Hungary

Economy 10:05 November 20, 2020

By Nam Kwang-sik

SEOUL, Nov. 20 (Yonhap) -- Doosan Solus Co., a South Korean copper foil maker, said Friday that it has commenced the commercial production of battery cooper foil at its Hungary plant.

Last August, Doosan Solus completed its battery copper foil plant in Hungary with a capacity of 10,000 tons.

The company plans to increase annual production capacity at the plant to 75,000 tons by 2025 to meet growing demand for battery copper foil in Europe.

This photo, provided by Doosan Corp. on Oct. 30, 2020, shows a Hungary battery copper foil plant of Doosan Solus Co. (PHOTO NOT FOR SALE) (Yonhap)

The Hungary plant produces the battery copper foil with the technical cooperation of its subsidiary Circuit Foil Luxembourg, which developed battery copper foil for the first time in the world, the company said.

Demand for battery copper foil is estimated to grow by 510,000 tons a year globally from 2022, surpassing the current annual supply of 500,000 tons, Doosan Solus said, quoting a report by energy market researcher SNE Research.

Doosan Solus will also change its name to Solus Advanced Materials Co.

The name change comes after cash-strapped Doosan Group's holding company Doosan Corp. and its key shareholders sold a 52.93 percent stake in Doosan Solus to private equity fund SkyLake Investment Co. for 698 billion won (US$619 million) in September.

After the stake sale, Doosan's stake in Doosan Solus was lowered to 2.84 percent.

ksnam@yna.co.kr
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