W SCOPE : (Progress of disclosure) Notice on the commencement of capital investment in Europe
June 17, 2022 at 05:23 am EDT
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17 June 2022
Company Name:
W-SCOPE Corporation
Stock Exchange Listing:
Tokyo Stock Exchange Prime
Representative:
Won-Kun Choi, President & CEO
Contact:
Hideo Ouchi, Director
TEL:
+81-(0)3-5436-7155
(Progress of disclosure)
Notice on the commencement of capital investment in Europe
With regards to the capital investment, which was disclosed in the "Notice regarding capital investment decision and establishment of European corporation" dated 14 October 2021, W- SCOPE Corporation (the Company) today announces that it will commence investment as follows.
Outline
W-SCOPE CHUNGJU PLANT CO., LTD. (WCP), a consolidated subsidiary of the Company, has been planning to build a plant to manufacture separation membranes (separators) for lithium-ion rechargeable batteries since last year. The Hungarian government has now approved the construction of the plant in Hungary and today, at an event organised by the Hungarian Ministry of Foreign Affairs and the Hungarian Investment Promotion Agency [HIPA], WCP announced that it will start capital investment in Hungary in the region of approx. €700mil.
Future Prospects
The new plant in Hungary will be built on approx. 820,000m² of land located in the southern industrial part of Nyíregyhaza. The plant will start supplying products to customers in the European region from the second half of 2024. WCP plans to install membrane and coating lines with an annual production of 1.2bil m² membranes by 2025.
With the aforementioned new capacity in Hungary in addition to existing capacity in Korea, WCP's annual production capacity will increase to 2.3bil m² in 2025. Additional investment will be considered to meet future increases in demand.
Through this investment by WCP, the Company will achieve high price competitiveness through superior technology and production efficiency, and increase its corporate competitiveness in all aspects, including technology development, production capacity and market expansion, with the aim of becoming a global leader in the EV lithium-ion rechargeable battery separator market going forward.
Company name: W-Scope Hungary Plant Limited
Business Activities: Development, production, and sales of separation membranes (Separators) for lithium-ion rechargeable batteries
Representative: Won-Kun Choi
Shareholder: 100% by W-SCOPE CHUNGJU PLANT CO., LTD (WCP)
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W-Scope Corporation published this content on 17 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 June 2022 09:22:04 UTC.
W-Scope Corp is a Japan-based company mainly engaged in the manufacture and sale of separators for lithium-ion secondary batteries. Microporous membranes made of polyolefin are generally used for the separators of main products, and their role is to separate the positive and negative electrode materials while ensuring lithiumion conductivity between the positive and negative electrodes. In addition, when the battery becomes abnormally hot and reaches a high temperature, the safety mechanism (shutdown property) in which the polyolefin melts and closes the pores plays an important role in stopping the movement of lithium ions and safely stopping the battery's function, responsible for battery safety.
W-SCOPE CORPORATION 
