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People & Appointments
Ecopro brings forward executive reshuffle, promotes Choi Sang-woon and Park Jong-hwan to president
Ecopro brought forward its annual executive reshuffle by two months and carried out promotions and appointments on Sept. 30, the company said on Oct. 1. Choi Sang-woon and Park Jong-hwan were promoted to president and named CEO-designates of Ecopro and Ecopro HN, respectively. Song Ho-jun was named CEO-designate of Ecopro BM. Ecopro said the move aims to strengthen external cooperation, diversify businesses and improve execution of next year’s plans.
Industry
Ecopro BM begins Hungary plant line conversion
Ecopro BM has begun work to convert an existing NCA production line at its Hungary plant into a line that can also produce NCM, it said on Sunday. The move aims to supply high-nickel cathode materials for premium electric vehicles in Europe from the fourth quarter of next year. The conversion is expected to cost about 40 billion won. The Hungary plant began commercial operations in the first half of this year and is running at 54,000 tons of annual capacity.
Industry
Ecopro BM posts Q2 operating profit of 18 billion won, down 63 percent year on year
Ecopro BM stayed profitable this quarter, posting second-quarter consolidated revenue of 576.7 billion won and operating profit of 18 billion won, it said on July 31. Revenue fell 26.0 percent and operating profit dropped 63.2 percent from a year earlier. Results also weakened from the prior quarter, and the company swung to a net loss of 4.5 billion won. It plans to expand cathode-material supply and advance investments in Indonesia and Hungary.
