SK IE Technology is planing to build its battery separator factory after 2024, the company CEO said on Wednesday.
Company CEO Roh Jae-sok has also vowed to maintain its leadership in “premium” separators, during its press conference for its upcoming IPO in May.
SK IE Technology is considering both front-end and back-end plants for the US. If need be, it may build a back-end plant __ which processes already made separators film __ first as it will cost less. The US government will have the accept the separator made this way as US-made, however.
SK IE Technology is also planning to continue its expansions of its plants in China and Europe.
It has already decided to build the third and fourth factories with 1.13 trillion won at its plant at Silesia, Poland.
The company already has a production capacity of 1.04 billion meter-square from its facilities in Jeungpyeong, South Korea and Changzhou, China.
It is aiming for a production capacity of 2.73 billion meter-square by 2024.
CEO Roh said the company is also planning to develop battery materials such as electrolyte and anode. It is also considering solid-state battery materials for the long-term as well, he said.
Last year, the company recorded 469.3 billion won in sales, a rise of 78.4% from 2019. Operating income and net income of the same year was 125.2 billion won and 88.2 billion won, a rise of 55.4% and 38.4%, respectively, for the same time period.
It will offer 21.39 million shares in its IPO. It is hoping for share price between 78,000 won to 105,000 won. It is commencing its forecast for institutional investors by Friday. Mirae Asset Daewoo and JP Morgan are lead underwriters. Korea Investment & Securities and Credit Suisse are co-underwriters. SK Securities, Samsung Securities and NH Investment & Securities are also underwriting the deal.