SK Nexilis Becomes the First in the Global Battery Industry to Earn the Copper Mark
l Achieves
RRA 3.0, the latest Copper Mark assessment standard, reinforcing its leadership
in global ESG practices
l Receives “Fully
Meet” ratings across all core ESG criteria, officially validating its
sustainability management system
l Strengthening
supply-chain credibility by meeting growing responsible sourcing requirements
SK Nexilis, SKC’s copper
foil business subsidiary, has become the first in the global battery industry
to earn the Copper Mark, an international ESG certification. Notably, it is
also the first copper foil manufacturer to meet the Copper Mark’s latest standards,
formally validating the strength of its global sustainability management system.
SK Nexilis said it earned the Copper Mark last month, completing all
required procedures—including on-site audits and expert validation—over
approximately two years since launching the certification effort in December
2023.
The Copper Mark is a leading ESG assurance program in the global copper
industry and a recognized ESG benchmark across the global copper value chain. Automakers
and battery manufacturers use it to assess and verify the sustainability
management system of their supply chains.
Across the global battery supply chain, efforts are increasing to assess
ESG risks upfront starting at the raw-material sourcing stage. Accordingly, preference
is growing for partners that have undergone credible third-party ESG assurance for
key materials, including copper.
The Copper
Mark certification obtained by SK Nexilis is based on RRA (Risk Readiness
Assessment) 3.0, the latest due-diligence framework that comprehensively
evaluates a company’s risk management systems and operational maturity across
32 core ESG criteria, including the environment, human rights, occupational
health and safety, business ethics, community engagement, and governance. SK
Nexilis achieved the highest rating of “Fully Meets” across all categories.
With
this certification, SK Nexilis has secured a solid foundation to meet the ESG
verification standards required by global customers and to effectively respond
to the growing demand for responsible sourcing across the industry. As the
first battery materials company to pass an advanced ESG due diligence process, it
is also expected to further strengthen its competitiveness in the global
market.
An
SK Nexilis official said, “This Copper Mark certification demonstrates that our
long-standing efforts to embed ESG across all aspects of our management have aligned
with global standards,” adding, “We will continue to proactively address the
ESG requirements of or global customers and establish ourselves as a company
that leads the sustainable growth of the battery materials industry.”
2025-12-23
SK Nexilis: Consecutive Key Rulings Strengthen Our Position in Ongoing Legal Disputes
l U.S. court opens trade-secret case; upon a
finding of misappropriation, it may enjoin manufacture, sale, and distribution
l PTAB denies all five of Solus Advanced
Materials’ IPR petitions and the rehearing requests
l Scope of alleged U.S. patent infringement
by Solus expands as the court accepts additional key issues for adjudication
l Korean Intellectual Property Trial and
Appeal Board invalidates four Solus patents; company declines to appeal
SKC’s affiliate in the copper foil business
for EV batteries, SK Nexilis, announced that its trade-secret lawsuit against
Solus Advanced Materials (“Solus”), filed in the U.S. District Court for the
Eastern District of Texas, was formally opened early last month. The company stated
that the court’s decision to proceed indicates that the case warrants full adjudication,
and that SK Nexilis will continue to respond proactively as the litigation
moves forward.
If misappropriation of trade secrets is found,
the court may issue injunctive relief enjoining the manufacture, sale, and
distribution of the products at issue. Where willful and malicious misconduct
is established, the U.S. Defend Trade Secrets Act (DTSA) permits enhanced
damages of up to three, times the compensatory amount.
Alongside the opening of the trade-secret
case, developments in the United States have trended favorably for SK Nexilis
regarding questions about Solus’s technological credibility. All five inter
partes review (IPR) petitions that Solus filed with the U.S. Patent Trial and
Appeal Board (PTAB) seeking to invalidate SK Nexilis’s patents were denied at
the pre-institution stage. Solus’s rehearing requests were also ultimately denied,
concluding the matter in SK Nexilis’s favor.
At the pretrial conference held in October,
additional key issues related to Solus’s alleged patent infringement were
highlighted. The court set all of SK Nexilis’s points for adjudication at
trial, including:
ㆍRebuttal to Solus’s claim of “independent
R&D,” alleging that former employees from SK Nexilis’s predecessor entity
were involved, raising concerns about potential technology misappropriation;
and
ㆍAllegations that Solus submitted
only selectively favorable samples as evidence
The court also ruled that Solus may not
rely at trial on technology-development claims predicated on patents held by
Circuit Foil Luxembourg (CFL), a subsidiary that Solus recently agreed to sell
to a Chinese company. SK Nexilis stated that this ruling meaningfully signals the
court’s willingness to question the reliability of Solus’s technical assertions
and the propriety of its evidentiary submissions.
Regarding the
U.S. court’s recent decision to admit CFL product samples into evidence, SK Nexilis
stated that the materials are not persuasive enough to establish patent invalidity
and are unlikely to affect the substantive outcome. The company had previously moved
to exclude the samples on the grounds that they were improperly submitted.
Developments in Korea have also continued
to favor SK Nexilis. The Korean Intellectual Property Trial and Appeal Board (KIPTAB)
invalidated four of the eight Solus patents that SK Nexilis challenged, and
Solus did not appeal, making the decisions final last month. Industry observers
view this as an indication that Solus may have concluded that maintaining its
defense for these patents would be difficult. Patent-infringement lawsuits in
Korea based on the invalidated patents are also expected to be dismissed.
The remaining four patents are still under
review at KIPTAB, and SK Nexilis believes the likelihood of invalidation is
high given the presence of prior art for all of them. Notably, two of these
patents were confirmed to have been acquired by Solus from a Japanese company
shortly before Solus filed suit.
An SK Nexilis spokesperson commented,
“Although the litigation is still ongoing, the results from various proceedings
in the United States and Korea show that Solus’s arguments are unlikely to gain
traction. We will continue to substantiate the facts and work to ensure that
our rights are properly protected throughout the remaining process.”
2025-12-03
SK Nexilis Expands Legal Action Against Solus, Highlighting Patent Competitiveness
l Filed a second amended complaint in the ongoing U.S. patent infringement lawsuit against Solus Advanced Materialsl Sought injunctive relief, including a sales ban, following findings that Solus products distributed in Europe infringed patentsl Korea Intellectual Property Trial and Appeal Board invalidated four patents held by Solus Advanced Materials SK Nexilis, SKC's subsidiary specializing in copper foil for EV batteries, announced on the 29th that it has added trade secret violation claims against Solus Advanced Materials in connection with the ongoing U.S. patent infringement injunction lawsuit.Earlier this month, SK Nexilis filed a second amended complaint in its ongoing patent infringement injunction case (Case No. 2:23-cv-00539) in the U.S. District Court for the Eastern District of Texas. In this latest filing, SK Nexilis asserted additional claims against Solus Advanced Materials and its affiliates, alleging violations of the federal Defend Trade Secrets Act (DTSA) and the Texas Uniform Trade Secrets Act (TUTSA).The amended complaint alleges that Solus Advanced Materials misappropriated and used trade secrets central to copper foil manufacturing processes, including additive recipes, electrolyte operating conditions, and drum management methods. These trade secrets represent core competitive strengths that SK Nexilis has developed through years of research and substantial investment.Accordingly, SK Nexilis has sought civil remedies, including an injunction to prohibit further use of its trade secrets, recovery of actual damages, restitution of unjust enrichment, and punitive damages. The company intends to thoroughly substantiate the relevant facts and damages through the judicial process.Shortly after filing the second amended complaint in the United States, SK Nexilis also initiated patent infringement litigation in Europe. The company determined that copper foil products sold in the European market by Solus Advanced Materials affiliates infringed its patent and accordingly filed two patent infringement injunction lawsuits with the Unified Patent Court (UPC).In this litigation, SK Nexilis is seeking a comprehensive injunction that would not only halt the manufacture, use, and sale of the infringing products, but also require the recall and destruction of products already distributed. The Unified Patent Court (UPC) has strong judicial authority, with the power to issue a single ruling effective across 17 member countries, including Germany and France, allowing for immediate remedial measures such as sales bans if patent infringement is established.In Korea, the validity of patents held by Solus Advanced Materials has also been reviewed by the Intellectual Property Trial and Appeal Board (IPTAB). On the 27th of this month, the IPTAB invalidated four patents owned by Solus Advanced Materials.Previously, one month after SK Nexilis filed its patent infringement lawsuit in the United States, Solus Advanced Materials initiated a countersuit in Korea, asserting six of its own patents against SK Nexilis. The recent invalidation ruling applies to four of those six patents, while the remaining two are still under review by the IPTAB.A representative of SK Nexilis stated, “We will do our utmost to clearly substantiate the facts in this litigation and ensure that our legitimate rights are protected. We also hope this case will serve as a reminder of the importance of safeguarding trade secrets, and that fair and ethical management will become the foundation for ensuring the sustainability of K-batteries in the global market.”Meanwhile, last year Solus Advanced Materials filed inter partes review (IPR) petitions with the U.S. Patent Trial and Appeal Board (PTAB) challenging five patents asserted by SK Nexilis. On July 2, all five petitions were ultimately dismissed, reaffirming the validity of SK Nexilis’ patents. [End]
2025-09-29
SK Nexilis: “Trade Secret Infringement Case Proceeds to Full Trial… Solus' Invalidity Claims Lack Sufficient Evidence”
● U.S. court orders full trial on trade secret infringement… to proceed separately from patent litigation with focused examination.● “Solus Advanced Materials' evidence amounts to mere one-sided assertions… lacks convincing proof for patent invalidation.”● Ongoing patent litigation in Europe could result in sales restrictions… while four patents have been invalidated in Korea.SK Nexilis, an SKC affiliate specializing in copper foil for EV batteries, announced on the 14th that the U.S. District Court for the Eastern District of Texas has decided to proceed with a full trial on its trade secret infringement claims against Solus Advanced Materials in the ongoing patent infringement lawsuit.The court’s decision follows an amended complaint filed by SK Nexilis last August, in which the company added claims against Solus Advanced Materials and its affiliates for violations of the Defend Trade Secrets Act (DTSA) and the Texas Uniform Trade Secrets Act (TUTSA). The complaint alleges that Solus misappropriated SK Nexilis’ trade secrets, including additive recipes, electrolyte operating conditions, and drum management methods—all core elements of the copper foil manufacturing process.The court accepted the amended complaint, allowing both the patent infringement and trade secret infringement claims to be addressed within the same case. However, given that the patent infringement case had already progressed significantly, the court decided to procedurally separate the two issues and conduct the proceedings accordingly. SK Nexilis views this approach as significant, as it could enable a faster determination on the patent infringement claims while allowing for an in-depth review of the trade secret allegations.SK Nexilis also emphasized that the court's recent acceptance of evidence submitted by Solus Advanced Materials aimed at proving patent invalidation is merely a procedural decision. The company stressed that this does not in any way recognize the credibility of the invalidation evidence or the likelihood of the patents being invalidated.SK Nexilis stated that the products submitted by Solus Advanced Materials as the basis for its invalidity claims cannot be verified in terms of their source or storage conditions, and that the results presented amount to nothing more than one-sided assertions with little persuasive power to prove patent invalidity. Moreover, the company highlighted that Solus' motion to dismiss SK Nexilis' infringement claims was denied by the court, demonstrating that these claims will be formally reviewed in the patent infringement proceedings..Meanwhile, SK Nexilis has also filed a patent infringement injunction lawsuit against a Solus Advanced Materials affiliate in Europe. A ruling by the Unified Patent Court (UPC) carries simultaneous effect across major European countries, including Germany and France. Should Solus Advanced Materials lose at the first instance, strong measures such as immediate sales and use bans, as well as inventory recall or destruction, could follow across these key European markets. A similar trend is unfolding in Korea. Of the eight patent infringement lawsuits filed by Solus Advanced Materials against SK Nexilis, four patents have already been ruled invalid. Notably, two of Solus' remaining four patents were recently acquired from a Japanese company before being used to initiate patent infringement injunction lawsuits. This approach—purchasing patents from a Japanese company to launch legal actions against a domestic competitor—is regrettable, as it appears to leverage Japanese intellectual property as a weapon against a fellow Korean company, rather than engaging in fair technological competition among domestic firms.An official at SK Nexilis stated, "For the healthy growth and advancement of the battery industry, acts of misappropriating others' rights must be prevented at all costs. This lawsuit also holds significance in safeguarding our technological edge in competition with Chinese companies." The official added, "If Solus Advanced Materials acknowledges its intellectual property infringement and cooperates in establishing a fair market order, the possibility of a settlement remains open.” [End]
2025-09-14
SK nexilis Secures KRW 150 Billion Investment from Toyota Tsusho, Strategic Partnership Strengthened
● Signed investment agreement signed on the 18th, involving a partial equity transfer of its Malaysian subsidiary● Enhanced synergy expected with the Toyota Group, including collaboration in copper foil raw material sourcing and next-generation battery development● Laying the foundation for stable operations at the Malaysian plant; accelerating stabilization of global production bases SK nexilis, a subsidiary of SKC (CEO: Woncheol Park) specializing in copper foil for secondary batteries, has successfully secured an investment of approximately KRW 150 billion from Japan’s Toyota Tsusho Corporation.On the 18th, SKC announced that it had signed an investment agreement at its headquarters in Jongno-gu, Seoul, under which a portion of shares in SK nexilis’ Malaysian subsidiary would be transferred to Toyota Tsusho. The transaction involves an investment of approximately USD 110 million (KRW 150 billion). Toyota Tsusho, a general trading company under the Toyota Group, engages in the procurement of materials and components for a wide range of products, including automobiles, and operates a global logistics network.This investment is expected to strengthen the strategic partnership between the two companies. Through its collaboration with Toyota Tsusho, SK nexilis is laying the groundwork for stable operations in its Malaysian plant and working together to expand its global customer base.Notably, Toyota Tsusho is currently constructing a large-scale battery plant in the United States with Toyota Motor Corporation, and is reportedly looking forward to broader collaboration with SK nexilis in the future. The partnership is also expected to generate synergies through joint marketing initiatives leveraging Toyota Tsusho’s extensive business network. At the same time, Toyota Tsusho has secured a stable procurement channel for copper foil, a key material for batteries.The two companies have also agreed to collaborate on the supply of core raw materials. SK nexilis anticipates a more stable supply of copper foil raw materials by leveraging Toyota Tsusho’s capabilities in the battery materials sector. In addition, SK nexilis intends to collaborate with Toyota Tsusho on the development of next-generation batteries, leveraging its capabilities in advanced current collector technologies.This collaboration marks a pivotal step as SK nexilis accelerates efforts to stabilize its global production bases this year. Its Malaysian plant has secured mid- to long-term supply stability through long-term contracts with major customers, while the Polish plant is being prepared to respond swiftly to the recovering demand in Europe.An SK nexilis official stated, “The strategic collaboration between SK nexilis, equipped with world-leading copper foil manufacturing technology, and Toyota Tsusho, with its competitive edge in raw material distribution, will serve as a powerful driver to enhance both companies’ competitiveness in the global electric vehicle market.” They added, “As economic cooperation between Korea and Japan gains greater importance, we hope this investment agreement will mark the beginning of a sustainable and trust-based partnership.” [End][SKC President Woncheol Park (right) poses for a commemorative photo
with Toyota Tsusho President Toshimitsu Imai.][Kwang-min Ryu (right), CEO of SK nexilis, signs the investment agreement
with Akihiro Sako (left), CEO of the Circular Economy Division at Toyota
Tsusho.]
2025-06-18
SK Nexilis Develops Current Collectors for All-Solid-State Batteries with Enhanced Fire Safety
l Successfully develops a new current collector for the high-safety ‘Dream Battery’… Performance verified through collaboration with battery manufacturersl Accelerating the development of tailor-made current collectors for next-generation batteries… Focusing on high-performance solutionsl Advancing joint development with multiple companies… Strengthening R&D efforts to lead the next-generation battery market SK Nexilis, an SKC (CEO: Woncheol Park) subsidiary specializing in copper foil for EV batteries, has successfully developed a current collector for all-solid-state batteries with significantly enhanced fire safety.All-solid-state batteries replace conventional liquid electrolytes with solid electrolytes, earning the reputation of the "dream battery" due to their superior safety. Solid electrolytes are known for their stability against temperature fluctuations and their ability to eliminate leakage risks caused by external shocks, making them significantly less prone to fire hazards. SK Nexilis has newly developed current collectors for all-solid-state batteries, including nickel (Ni) foil, nickel-plated (Ni) foil, and nickel-alloy (Ni-Alloy) foil. These products are specifically designed for all-solid-state batteries to address corrosion issues that may occur in battery components. Moving forward, SK Nexilis plans to collaborate with OEMs and battery manufacturers to complete the validation of product performance and application feasibility, aiming to secure an early market advantage and expand its presence.SK Nexilis is also accelerating the development of current collectors for lithium metal (Li-Metal) batteries, another leading next-generation battery technology alongside all-solid-state batteries.SK Nexilis aims to complete the development of high-performance current collectors exclusively for lithium metal (Li-Metal) batteries by 2026, leveraging its proprietary recipe technology. To achieve this, the company is participating in a government-led national project for next-generation battery development, collaborating with multiple companies through a battery and materials alliance.An SKC representative stated, "Leveraging SK Nexilis' unparalleled manufacturing expertise, we will deliver top-tier products that meet the demands of next-generation battery customers. Moving forward, we will continue our research and development (R&D) efforts to diversify our products lineup and overcome the EV chasm—a temporary slowdown in electric vehicle demand." [End]
2025-02-12
SK Nexilis Secures KRW 195 Billion Subsidy from Polish Government Under EU TCTF
● KRW 195 billion cash subsidy confirmed by the Polish government under EU TCTF, the first case among Korean battery materials companies.● Fostering the ecosystem through industry-academia cooperation and R&D while building a mid- to long-term partnership with the Polish government.● Preparing for the post-chasm market by meeting recovering European demand through the flexible operation of the first plant.SK Nexilis, a copper foil business invested in by SKC (CEO Woncheol Park), has secured a KRW 195 billion subsidy from the Polish government under the Temporary Crisis and Transition Framework (TCTF), part of the EU’s Green Deal policy.This establishes SK Nexilis as the first Korean battery materials company to receive the EU’s TCTF subsidy and the recipient of the largest-ever cash subsidy granted by the Polish government for a single investment.On December 26, SK Nexilis announced that it had finalized a subsidy of approximately PLN 545 million (approximately KRW 195 billion) from the Polish government. As part of this agreement, SK Nexilis and the Polish government will collaborate to strengthen their mid- to long-term partnership, including industry-academia cooperation and R&D, centered on the factory under construction in Stalowa Wola, Eastern Poland.In March last year, the EU introduced the Temporary Crisis and Transition Framework (TCTF), easing regulations on subsidies for EV and battery companies contributing to decarbonization efforts. Major European countries, including Italy, Spain, and Germany, have already been providing subsidies to companies operating production facilities within their countries.The cash subsidy is expected to serve as a foundation for SK Nexilis to significantly improve its local factory operations strategy. The company’s copper foil factory construction in Stalowa Wola, Poland, is nearing completion, with plans to establish a phased supply chain following the completion of client certification processes.An SKC executive stated, “This subsidy will serve as a foundation for building an ecosystem of industry-academia-research cooperation with the Polish government,” and added, “With the resulting boost to our financial stability, we will respond to the post-chasm market by promptly initiating factory operations to meet the recovering demand in Europe.” [End]
2024-12-26
SK nexilis Divests Thin Film Business to Focus on Strengthening Core Competencies
● Signed a business transfer agreement with private equity firm Affirma Capital for KRW 95 billion● Prioritizing financial stability this year by timely liquidating non-core businesses to secure cash● Accelerating business restructuring with a focus on high-value-added products such as Absolics’ glass substratesSKC (CEO Woncheol Park) is divesting the thin film business of SK nexilis, its EV battery materials subsidiary, to private equity firm Affirma Capital. After its Board of Directors (BoD) meeting on November 13, SK nexilis announced its decision to transfer its thin film business, which supplies FCCL (Flexible Copper Clad Laminate) for displays, to Affirma Capital for KRW 95 billion. The two companies signed a business transfer agreement immediately after the BoD meeting. SK nexilis plans to complete the necessary procedures to finalize the transaction by February next year.FCCL (Flexible Copper Clad Laminate) is a key electronic material for transmitting video signals in display products such as smartphones and TVs. It is widely used in Chip On Film (COF) applications for displays. By leveraging its advanced thin-film manufacturing technology, SK nexilis has played a significant role in advancing ultra-high-definition display products.Affirma Capital, the acquirer of SK nexilis’ thin film business, is recognized for its expertise in carve-out strategies, particularly acquiring non-core business units from conglomerates and enhancing their enterprise value. Further investment is expected post-acquisition to enhance the competitive edge of the thin film business.Earlier this year, SKC prioritized financial stability and actively pursued the timely liquidation of non-core businesses. These efforts secured over KRW 1 trillion in cash, easing the financial burden on its subsidiaries. In September, SKC also fully repaid the acquisition financing by injecting KRW 700 billion into SK nexilis through a paid-in capital increase.Building on its strengthened financial stability, the company is accelerating business restructuring focused on high-value-added products, including Absolics’ glass substrates,. The glass substrate business aims to commence mass production for customers next year, while the semiconductor materials business is working to enhance its competitiveness through ISC, a semiconductor test solution provider.“We will utilize the proceeds from the sale of the thin film business to strengthen the competitiveness of our core businesses,” an SKC official stated, adding, “Our ongoing efforts to enhance financial stability through the sale of non-core businesses will prepare us for a full-scale rebound starting from next year.” [End]
2024-11-13
SK nexilis will be the exclusive supplier of high-quality copper foil to VARTA, Germany.
● SK nexilis will be the sole supplier of copper foil to VARTA, an established leader in the European battery market, needed for its first mass production project.● Following the contract with Northvolt in February, SK nexilis has established its position as Europe’s only high-quality copper foil supplier by entering into business with a major European EV battery manufacturer.SK nexilis, SKC’s EV battery copper foil production subsidiary, signed a supply agreement with Germany’s battery manufacturer VARTA accelerating its expansion in the European market.SK nexilis and VARTA have agreed on an exclusive supply of the copper foil required for VARTA’S first EV battery mass production project. In addition, they are negotiating a long-term supply contract of over five years to meet additional demand resulting from VARTA’s future expansion. Details of the supply scale under the contract will not be disclosed according to the agreement between the two companies.Established in 1887, VARTA has traditionally led the primary battery market. With the recent investments of more than 300 million euros from the German Government and other entities, VARTA is seeking to expand its business to EV batteries. Production is underway at a pilot line located in Baden-Württemberg, Germany. This agreement will allow VARTA to source high-quality copper foil from SK nexilis, enabling it to move forward with stable mass production.Following the signing of a long-term supply contract in February this year with Northvolt, the largest EV battery manufacturer in Europe, SK nexilis signed an exclusive supply agreement with VARTA. These agreements will allow SK nexilis to continuously expand its share of the European copper foil market in the mid- to long-term through the copper foil to be manufactured at the copper foil plant in Poland currently under construction. Europe is a fast-growing market based on the intra-region supply chain development policy for EV components and materials. SK nexilis plans to sell most of its production under mid- to long-term contracts.SK nexilis will supply VARTA high-quality copper foil with a tensile strength 40% higher than standard products. The rapid growth of the EV market is driving demand for high-quality copper foil as global EV battery manufacturers seek to maximize productivity and ensure manufacturing stability. This is because copper foil products with enhanced strength and heat resistance are essential to withstand the high-speed and harsh manufacturing process. SK nexilis has successfully won contracts one after the other, being the only manufacturer capable of supplying such high-quality copper foil locally in Europe. Furthermore, it is continuously expanding its high-quality copper foil lineup through consistent research and development.An SK nexilis executive said, “We are very encouraged by the continued expansion of SK nexilis’ differentiated high-quality, high-strength copper foil supply to global clients,” and added, “We will continue to strive in improving our clients’ productivity and developing the South Korean EV materials industry.” [End of document]
2023-08-07
SKC joins hands with Toyota Tsusho of Japan to accelerate entry into the North American EV battery market
● SK nexilis agrees on incorporating a JV with Toyota Tsusho··· jointly investing in a production subsidiary in North America and collaborating in sourcing raw materials ● Building momentum to make presence in world’s biggest EV market···implementation of global production chain on track next to Malaysia and Poland SKC (CEO & President Woncheol Park) joins hands with Toyota Tsusho (豊田通商) of Japan to build a system to facilitate long-term supply of quality cooper foil to North America known to be world’s biggest EV market.SK nexilis, SKC’s EV battery copper foil production subsidiary, held an MoU (memorandum of understanding) signing ceremony with Toyota Tsusho, a trading arm of Toyota Group, on the 28th to consider incorporating a joint venture (JV) to produce and supply copper foil in North America. SK nexilis and Toyota Tsusho have agreed to invest jointly going forward to establish a copper foil production joint venture in North America and partner with each other in manufacturing and supplying high-quality copper foil products in the long term that meet the expectations of prospective customers in the region. The MoU ceremony, held in the head office of Toyota Tsusho located in Nagoya City, Aichi Prefecture, Japan, was attended by distinguished leaders of the two parties, including SKC CEO & President Woncheol Park, CEO Jae-hong Lee of SK nexilis, CEO & President Ichiro Kashitani, Executive Vice President Akihiro Sago, and COO Masaharu Katayama of Metal Division at Toyota Tsusho. Battery production throughput in North America targeted by SK nexilis and Toyota Tsusho as the destination of their joint venture under consideration is projected to grow explosively from 2025. However, as the local production volume of copper foil in the region currently falls short of 1,000 tons a year, deficit in copper foil supply is expected to be manifested soon. The MoU will translate into greater momentum for SK nexilis’ global expansion. It is expected that the MoU will enable SK nexilis to access potential customers requiring massive quantity of supply and secure a more stable bedrock for market entry before shelling out full-scale investment in North America next to Malaysia where commercial operation is set to begin this year and Poland where production capacity is to be completed next year. SK nexilis is also one step closer to its goal of global supply chain capable of delivering 250,000 tons a year including North America. The MoU will also allow Toyota Tsusho to lay down groundwork to supply quality copper foil to the region.The two companies will also collaborate in sourcing key ingredients. Toyota Tsusho is working on several projects to secure access to a variety of EV battery ingredients such as lithium in Argentina. The partnership is also expected to help SK nexilis more readily source raw materials for cooper foil needed by its North Korean production facility. They will also create more synergy, collaborating in prospecting new customers, for instance.“The MoU will lead our investment in North America to success and enable us to roll out a global production chain encompassing Asia, Europe, and North America,” an official at SKC said. ”Collaboration between SK nexilis distinguished for its world’s best copper foil production expertise and Toyota Tsusho known to be competitive from sourcing to distribution of key raw materials for EV battery will pump out greater competitive edge from both companies in the global EV market.” [End][SKC’s copper foil business subsidiary SK nexilis collaborates with Toyota Tsusho of Japan to put in high gear its entry into North America. SKC CEO & President Woncheol Park, CEO Jae-hong Lee of SK nexilis, COO Masaharu Katayama, and Executive Vice President Akihiro Sago of Toyota Tsusho are posing for a photo, holding the copy of the MoU.]
2023-07-31
