Toray Advanced Materials Korea has agreed to acquire a 70% stake in Toray Battery Separator Film Korea (Toray BSF) to enter the battery separator industry. No financial details were disclosed.
Toray BSF Korea is the core production base and of Japan Toray, specialising in manufacturing separators. It is located in Gumi, Gyeongsangbuk-do, and has a diverse product portfolio, including for lithium-ion secondary batteries for electric vehicles (EVs).
It supplies separators to domestic and foreign battery companies.
Toray said it plans to use the acquisition to strengthen the value chain of the Korean battery industry.
It sees demand for premium separators increasing in the global EV market.
