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Investment in cylindrical battery resumes
Samsung SDI will continue to invest in the Hungarian plant again this year. In addition to investment in cylindrical batteries that did not exist last year, investments in excess of the 1.7 trillion won recorded in 2019 are expected.
On the morning of the 17th, Samsung SDI held the 51st ordinary shareholders meeting at The K Hotel in Yangjae-dong, Seoul, and approved three agenda items, including the approval of the financial statements and the appointment of directors. It was over in 30 minutes without any disagreement.
President Jeon Young-hyun said in a greeting from the president, “We will improve the competitiveness of the company to the next level by expanding core bases like Hungary.” ‘Ensuring differentiated technologies’, ‘Improving quality competitiveness’ and environment, social and governance (ESG) were selected as key promotional elements.
Samsung SDI will begin mass production of the fifth generation (Gen5) battery product at its Hungarian plant in the second half of the year. The new lithium ion battery separator (LiBS), which has improved heat resistance (resists heat) by more than 30% compared to existing batteries, and high nickel, cobalt and aluminum cathode materials (NCA) with a nickel content of 80% or more are used.
It has recently decided to issue a capital increase to shareholders in order to finance the financing lines of the Hungarian subsidiary (Samsung SDI Hungary Zrt.). The scale is 403.8 billion won. A debt guarantee of 5.384 billion won was also provided.
This year there will also be investments in cylindrical batteries, which were not made last year. He plans to invest 131.5 billion won first. However, a specific investment destination has not been determined. It is reported that the Seremban plant in Malaysia, which has many old lines, will be considered first. The Tianjin plant in China, which may receive subsidies, is also Hubo.
At the general meeting of shareholders that day, Vice President Jang Hyuk and Vice President Kim Jong-seong were appointed new CEOs. Vice President Jang served as director of the research institute and later as director of the electronic materials and small batteries business. Vice President Kim served as Samsung Display Support Team Leader and Support Team Leader for Samsung Electronics’ Video Displays Division. Samsung SDI has 3 internal directors and 4 external directors, with a total of 7 directors maintained.
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