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Posco shake-up bid to boost materials sales

Mon, 01/14/2019 - 00:00 -- John Shepherd

South Korea’s Posco is set to merge two of its business units to boost its global share of the battery materials market.

Posco’s board is expected to approve the merger of its Chemtech and ESM lithium-ion cathode materials divisions next month— on condition that no more than 20% of shareholders object.

If approved, the merger would take place in April 2019. Chemtech would integrate all group R&D capabilities for cathode materials to “fully develop next-generation cutting-edge products, while also promoting sales expansion”.

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