SK innovative separation material business unit operates independently as a new subsidiary

China touch screen network news, split material business and then set up battery factory SK Innovation pre-emptive to grab the market. Recently, SK Innovation announced that the company will separate its material business department, operate independently as a new subsidiary, and use it as a guarantee for the company to open up the battery market, paving the way for its further development in the battery industry. SK Innovation said that the company will focus on focusing on the development of battery business, further consolidating the status of the industry through global expansion and ensuring competitiveness.
Seize the market first
In response to the company's trends, SK Innovation general manager Jin Jun said: SK Innovation medium-term plan Deep Change2.0 business core lies in battery and material business. Under the situation that the market is undergoing a sharp change, pre-emptive and seizing the market is the core of its business success.
On the other hand, the current market prospects for electric vehicles and flexible display, as well as the good profits of SK Innovation in the above fields, are also important reasons for the company to make this business adjustment. In 2018, SK's innovative electric vehicle battery business more than doubled its sales in the fourth quarter to 348.2 billion won, compared with 145.7 billion won in the same period in 2017. The fourth quarter operating profit of the information and electronic materials department was 52.5 billion won.
European battery factory
SK Innovation decided to invest 945.2 billion won to build its second electric vehicle battery factory in Europe. At that time, SK's innovative overseas factories reached 4, including 2 in Europe, 1 in China and 1 in the United States.
SK Innovation said that the decision to invest in the second factory of guomalom, Hungary, with a total area of about 35000 Ping. The new factory will start this month and will be completed in the first half of 2020, striving to start formal mass production in early 2022, with an annual output of about 9GWh. In the first factory of Komarom, SK's innovative battery capacity in Europe will reach at least 16.5GWh/year. In addition, SK's innovative Changzhou factory in China has a production capacity of 7.5GWh/year, the plant in the United States of America is 9.8GWh/year, and there is a capacity of 4.7GWh/year in the local area. In this way, SK Innovation is getting closer to its mid-term goal of ensuring 60GWh battery capacity in 2022.
For the European battery market, SK Innovation said that Europe is turning into an electric vehicle-centric market. Therefore, the company adopts a pre-emptive business strategy to cope with the rapidly growing European electric vehicle market, strengthen its position in the European automobile market, and compete positively with European manufacturers.
Split material business
While entering the European battery market, SK Innovation announced that the company plans to divest its Material business department and set up a new company sk ie Material to strengthen the company's professionalism in the Material business, ensure international competitiveness.
SK Innovation said that at present, the company has two main products in the material business, namely, lithium-ion battery separator (LiBS) and flexible display polyimides film (FCW ). LiBS is an important product of SK Innovation. SK's innovative LiBS business has the world's second largest production capacity and can form good cooperation benefits with the company's battery business. The company's FCW products made its debut in January this year for flexible display equipment, which has attracted the attention of the industry.
For the split of the material business, SK Innovation said that it will build a unique business system of sk ie materials, strengthen the professionalism of the material business, and further improve the business capabilities in the material business. The split of the material business will be officially decided at the shareholders' meeting held on March and will be split from April 1.
After the split is completed, the number of SK Innovation subsidiaries will increase to 6. At present, the five are SK Energy, SK Comprehensive Chemistry, SK lubricating oil, SK Incheon petrochemical and SK international trade.