DI noted on the 4th that it has completed its merger with its energy materials subsidiary, Dongil Aluminum.
DI expressed expectations that this merger would enhance management efficiency and alleviate market uncertainties arising from duplicate listings of subsidiaries.
Dongil Aluminum is an aluminum material specialist company established in 1989. Following packaging materials and construction materials, it expanded its business into the energy materials sector starting in 2011. Currently, it supplies aluminum foil to three domestic battery manufacturers.
In particular, Dongil Aluminum is constructing a new dedicated plant for battery materials on a site of 53,554 square meters (about 16,200 pyeong) in the Cheongju High-Tech Valley industrial complex. Once the new plant is completed, its production capacity of high-performance aluminum foil for batteries is expected to be strengthened.
A DI official said, "Through this merger, we plan to strengthen our long-term growth foundation centered on advanced materials," adding that "the establishment of the new plant in Cheongju is expected to play a pivotal role in improving the company's performance as well as in the group's strategic transition."
DI is a first-generation company in Korea that grew based on textiles and currently owns ten subsidiaries, including DI C&E (environmental facilities) and DI Biz (furniture distribution), and operates affiliates such as Dongil Lacoste.