Hana to supply 11 billion won worth of battery equipment 

Hana Technology said on Wednesday that it has signed a contract to supply 11 billion won worth of battery production equipment.

The customer was a US battery firm, it said. Hana didn’t name the customer.

It will be supplying manufacturing equipment, including formation equipment, for prismatic battery. 

The contract will expire on April 29, 2022. The size of the deal equals 12.6% of its annual sale in 2020 which was 88 billion won.

A Hana Technology spokesperson said it expected new orders from Europe and US going forward as spending plans of customers return on track after the pandemic last year.

The South Korean equipment maker recorded 88 billion won in sales and 4.5 billion won in operating loss last year. Its sales jumped 48.5% from 2019.