On August 4, DI Dongil announced its merger with Dongil Aluminium to ensure that its efficiency increases for its overall production of aluminium foil for its batteries. This merger is expected to increase the efficiency of the working mechanism management. This would also ensure that it would reduce the uncertainties arising from various duplicate listings of the subsidiaries.
A DI official stated, "Through this merger, we plan to strengthen our long-term growth foundation centred on advanced materials," adding that "the establishment of the new plant in Cheongju is expected to play a pivotal role in improving the company's performance as well as in the group's strategic transition."
Dongil Aluminium is constructing a new plant entirely dedicated to the production of batteries on a site of 53,554 square metres, in the Cheongju High-Tech Valley industrial complex. It is estimated that after the completion of this new plant, the overall production capacity of aluminium foil for batteries will increase.
Dongil Aluminium was established in the year 1989. It mainly focused on the production of packaging materials and construction materials. However, from the year 2011, it expanded its business to the energy sectors as well. In recent times, it mainly focus on supplying aluminium foils to three domestic battery manufacturers.
Responses
