MOSCOW (MRC) -- Toray Advanced Materials Korea Inc., a South Korea-based producer of chemical materials and technology products, is entering the battery separator film business through the acquisition of Toray Battery Separator Film Korea (Toray BSF Korea), said Kedglobal.
The company announced on Thursday that it has reached an agreement to acquire a 70% stake of Toray BSF Korea, which is currently owned by Toray Industries of Japan.
Located in Gumi, North Gyeongsang Province, Toray BSF Korea is a specialized manufacturer of separators, one of the four key materials for batteries, and a core production base for Japan's Toray.
The company has a diverse product portfolio for electric vehicles, electronic devices, industrial components and energy storage, supplying separators to battery manufacturers both domestically and internationally.
Toray Advanced Materials has a range of advanced materials businesses related to electric vehicles and next-generation mobility, including specialty films for multilayer ceramic capacitors (MLCCs) in electric vehicles, aramid for motor insulation and nonwoven fabrics for electric vehicle sound absorption.
We remind, Toray Advanced Materials Korea (TAK) has announced plans to increase its annual production capacity of polyphenylene sulfide (PPS) resin by 5,000 tons. The expansion will take place at the Gunsan plant located in Saemangeum Industrial Complex and is set to be completed by 2024, bringing TAK's total annual capacity to 13,600 tons, the largest in South Korea. TAK will also raise its capacity for sodium sulfide, the main raw material for PPS resin, to 4,800 tons per year.