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Photo courtesy of Yonhap News |
[Alpha Biz= Paul Lee] SEOUL, May 26 — Lotte Energy Materials announced it will sell its subsidiary Lotte Ecowall as part of a strategy to strengthen its core copper foil business.
The company said it has signed a share purchase agreement with a private equity firm to divest a 90% stake in Lotte Ecowall for approximately KRW 170.8 billion, with the transaction expected to close on July 7. Lotte Ecowall is a leading domestic player in curtain wall construction.
Lotte Energy Materials plans to use the divestment to focus on enhancing competitiveness in its copper foil operations, a key material for electronic circuits and batteries. The company is expanding production capacity at its Iksan plant, aiming to increase output from 3,700 tons to 16,000 tons by 2027, particularly targeting demand from AI-related applications.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
