South Korea’s LG Chem plans to invest KRW40bn in China’s Jiujiang DeFu Technology (Defu), to expand its capacity and products portfolio.
The company will also sign a memorandum of understanding (MoU) for a long-term co-operative partnership, it noted on Monday. LG Chem expects the demand for copper foil to increase following the explosive growth in battery-making. It also wants to leverage DeFu’s proprietary manufacturing technology.
DeFu manufactures ultra-thin copper laminates for secondary batteries and printed circuit boards. It has a total annual capacity of 45,452mt across two plants in China’s Jiangxi and Gansu Provinces. It plans to expand its capacity to 70,760mt per year.