South Korea COSMO plans to acquire Samsung SDI precursor subsidiary

SMM12, April 4: it is reported that South Korean cathode material manufacturer COSMO Advanced Materials plans to acquire the precursor production line of STM, a wholly owned subsidiary of Samsung SDI, in Ulsan, and set up a production vertical integration system to enable it to produce its own precursor and cathode materials.

It is understood that COSMO is currently in talks with Samsung SDI about the acquisition, which is expected to be completed by the end of the year or early next year at the earliest.

In August 2019, COSMO plans to invest $36.6 million (260 million yuan) to expand its production capacity of high-nickel materials from the current 3000 tons to 8000 tons a year, and to 15000 tons a year later, depending on market conditions.

STM is a joint venture between Samsung Fine Chemicals, a subsidiary of Samsung SDI, and Toda Industries of Japan, which mainly produces NCM cathode materials and precursors. In September 2015, Samsung SDI acquired the full stake in STM held by Samsung Fine Chemicals, and in December of the same year, it acquired the stake held by Toda Industries. So far, STM has become a wholly owned subsidiary of Samsung SDI.

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