Aluminum parts maker Almac said on Tuesday it has 1.5 trillion won worth of remaining orders.
The orders from automobile and battery companies are enough to provide Almac with revenues up to 2030, Almac Executive Director Junpyo Park told a press conference as the company prepares to list on the South Korean bourse.
The 40 billion won to 45 billion won it aims to secure from the listing will be used to expand production facilities to win new orders, Park said.
According to the executive, battery module cases accounted for over half of the orders; battery pack cases 20%; and electric vehicle platform frames 27%.
Customers for the battery module cases include LG Energy Solution and SK On, while those for battery pack cases include Dura and Mercedes-Benz. For the EV frames, Rivian, Cadillac and Lucid are included in the customer list.
Park said it entered the EV industry through its competence in aluminum compression technology. Almac won LG Energy Solution as a customer for module cases in 2017 and SK Innovation in 2021. In 2022, it participated in General Motors’ project to develop its EV platform.
Alamcs revenue from the EV sector was 19.6 billion won in 2019 but this has now climbed up to 115.2 billion won as of 2022, amounting to 73% of its total annual revenue in that year, Park said.
Park also talked up Almac’s crash alloy technology, which means it can make aluminum parts that are extremely durable against external pressures.