December 7, 2022

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Solus buys back its Canadian copper foil plant

Solus buys back its Canadian copper foil plant

South Korean battery foil company Solus Sophisticated Resources Corporation documented this 7 days the acquisition of its former Canadian copper foil production plant, as it its appears to boost its exposure to the North American industry.

Solus Sophisticated Resources was formerly known as Doosan Solus, when it was owned by Doosan Team concerning 2014 and 2020, right until the South Korean industrial conglomerate bought its stake to a private fairness company to fund its battling subsidiary Doosan Weighty Industries & Construction Corporation.

Solus Sophisticated Resources claimed in a regulatory submitting this 7 days that it has re-acquired the Quebec-based mostly plant, which an once-a-year production capacity of 60,000 tons of copper foil applied principally as a destructive electrode for the anode present collector in lithium-ion battery cells. The company’s principal concentrate on is the developing North American electric powered car (EV) industry.

The acquisition in practice provides Solus Sophisticated Resources back the factory that experienced been run by its European division just before it was acquired by Doosan Team in 2014.

In accordance to reports in South Korea, Solus Advancd Resources strategies to devote in increasing the facility, with the intention of commencing mass production in 2024.