SKC

• The Latin word “nexilis”, which means “tied together”, indicates the company’s commitment to being tied to a future society armed with overwhelming technological prowess.

• It has refreshed its resolve to enhance its status as the world’s No. 1 business by expanding its domestic factories and making forays into global markets

• SK Group Chairman Chey, Tae-won declared: “Let’s become the world’s No.1 business by making courageous investments and achieving one success story after another.”

   

KCFT, SKC’s copper foil manufacturing affiliate, has changed its name to SK nexilis and now plans to focus all its energy on securing production capacity befitting its prestige as the business with the world’s No.1 technological prowess.

At a session of its Board of Directors Meeting and an extraordinary General Meeting of Shareholders held last week, the company passed a resolution concerning changes in its Articles of Incorporation, including the new name, Nexilis, which it registered with the authorities on April 28. The choice of “Nexilis”, a Latin word meaning “tied together”, indicates the company’s ambition to “tie itself to the mobility of future society on the strength of its overwhelming technological prowess”.

The company has followed the acquisition procedure, including the report on business consolidation both at home and abroad, since the official announcement of its takeover of KCFT in June last year. It completed the procedure by paying up the stock price in full in January this year, whereby SKC came to hold the entire equities of SK nexilis.

SK nexilis (formerly KCFT) is the world’s No.1 producer of copper foil, a core material used in secondary battery cathodes. In October of last year, it succeeded in mass producing the world’s largest ever roll of ultra-thin (4㎛ thick) copper foil with a length of 30 kilometers and a width of 1.4 meters, thereby displaying its sheer technological prowess.

In his congratulatory message on the occasion of the renaming of the company on April 29, SK Group Chairman Chey, Tae-won said, “Let’s maintain our position as the world’s No.1 business in copper foil manufacturing with one success story after another by making courageous investments and creating economic and social values in step with the ever-growing markets, fully utilizing the factory in Jeongeup.”

Chairman Chey added, “I expect to see the day when we give high fives together, celebrating our continuing business success at the Jeongeup Factory, despite the current hardships occasioned by the COVID19 pandemic.”

At present, the global copper foil market is growing rapidly. According to SNE Research, a market surveying entity, the electric vehicle battery market, which accounts for most of the demand for copper foil, is expected to grow at an annual average rate of about 40% until 2025. SK nexilis, which held its position as the world’s No.1 copper foil manufacturer in 2019, with a market share of 14%, is increasing its investment each year.

The company completed its fourth factory early this year, and started the construction of its fifth factory after announcing the plan in March. As such, its total production capacity will increase from 24,000 tons in 2019 to 34,000 tons this year, and to 43,000 tons next year.

The company is positively reviewing the expansion of its manufacturing facilities across the world. Having facilities in Europe, the United States, and Asia will enable it to respond to customer businesses’ demands more promptly and enhance its cost competitiveness in those regions. SK nexilis is consulting with SKC, which has accumulated business experience in various countries, including the possibility of using idle spaces in SKC’s existing facilities.

[KCFT, a wholly-owned copper foil affiliate of SKC, has changed its name to SK nexilis and refreshed its resolve for a new start.]