Toray to move into battery separator business

Toray Advanced Materials Korea Inc., a South Korea-based producer of chemical materials and technology products, is entering the battery separator film business through the acquisition of Toray Battery Separator Film Korea (Toray BSF Korea).

The company announced on Thursday that it has reached an agreement to acquire a 70% stake of Toray BSF Korea, which is currently owned by Toray Industries of Japan.

Located in Gumi, North Gyeongsang Province, Toray BSF Korea is a specialized manufacturer of separators, one of the four key materials for batteries, and a core production base for Japan's Toray.

The company has a diverse product portfolio for electric vehicles, electronic devices, industrial components and energy storage, supplying separators to battery manufacturers both domestically and internationally.

Toray Advanced Materials has a range of advanced materials businesses related to electric vehicles and next-generation mobility, including specialty films for multilayer ceramic capacitors (MLCCs) in electric vehicles, aramid for motor insulation and nonwoven fabrics for electric vehicle sound absorption.

Through the latest acquisition, Toray Korea aims to consolidate its capabilities and transition the management system of Toray BSF Korea to be Korea-centric. The goal is to expand collaboration with customers and contribute to strengthening the K-battery value chain.

Toray Advanced Materials is also expanding its business portfolio with a focus on environmentally friendly initiatives through aggressive mergers and acquisitions.

The company previously acquired in 2021 the carbon fiber prepreg business, a high-strength lightweight material, and acquired a specialized company in water treatment operation in March of this year.

By Mi-Sun Kang

msk524@wowtv.co.kr