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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.
Industry
Ecopro posts Q1 operating profit of 60.2 billion won, up 4,280 percent
Ecopro said on Tuesday its first-quarter operating profit rose 4,280 percent from a year earlier to 60.2 billion won, while revenue increased 1.9 percent to 822.0 billion won. It cited the consolidation of Indonesia-based GEN smelter results, higher metal prices and a recovery in downstream battery and semiconductor industries. It also reported higher quarter-on-quarter sales and operating profit and a return to net profit.