Battery equipment manufacturer CIS said on Thursday that it will be expanding its production facilities.
The company will expand its first factory at its headquarters by 60% __ or an additional 1,800 meter-square. The plan was approved in a board meeting on March 3.
CIS saw a huge jump in orders last year in addition to its existing orders prior to that, which is requiring it to expand its facilities, a company spokesperson said.
It is also expecting battery related industries to show accelerated growth going forward and the expansion will prepare the company for that as well, they said.
CIS said previously that it secured 127 billion won worth of orders in 2020. Its remaining orders of of September last year was 210 billion won. It had expanded its second factory last year. CIS is likely to build a third factory soon.