LG Electronics may sell battery separator business to LG Chem
Companies say nothing has been finalized on plan
LG Electronics is considering selling its battery separator business to LG Chem, TheElec has learned.
Under the plan, which is being reviewed by LG Electronics, it will transfer control over its related factories in Cheongju, South Korea and Wroclaw, Poland, to LG Chem.
Representatives of the companies said nothing was finalized as of yet.
LG Electronics’ Business Solution unit, which sales products to other companies, have been managing the battery separator operation.
It procures bare films and coat them before supplying them too LG Energy Solution, LG Chem’s battery making subsidiary.
The transfer is being reviewed as LG Chem has technology related to separators and have more synergy with LG Energy Solution on the business.
However, as LG Electronics has been hiring researchers for separator coating recently, the transfer of the operation to LG Chem may take some time.
The Business Solution unit last year recorded 6 trillion won in sales. IT products, from monitors to PCs, contributed 4.2 trillion won to that. Solar panels and separators contributed 1.7 trillion won.
In 2019, LG Electronics had said its et cerata businesses contributed 1.1 trillion won. People familiar with the matter said this likely includes separators.