ITOXI's subsidiary BFG Partners announced on the 29th that it has signed a supply contract for lithium-ion batteries with an industrial equipment distributor in Slovakia.
This contract is for an annual scale of 3.09 million cells (approximately 10.1 billion won). According to the company, the initial batch of 340,000 cells (approximately 1.1 billion won) will be urgently transported by air cargo after production is completed within the year. The subsequent batch was agreed to be regularly delivered by sea starting in January next year.
BFG Partners is a strategic subsidiary established by ITOXI in April to invest in the Berezan Float Glass (BFG) plant in Ukraine and export construction materials to Eastern Europe.
A representative from BFG Partners said, "The Slovak company KL PRO SK, with whom we signed this contract, is a corporation with an extensive supply chain in Eastern Europe," adding, "This contract is expected to serve as a foothold for supplying Korean-made batteries to key local industries and battery pack manufacturers."
Meanwhile, ITOXI has delivered 150 KGM pickup trucks (approximately 4.7 billion won) to the Korean National Police Agency in the first half of this year. A second batch of 300 units (approximately 9.5 billion won) is also targeted for contract signing within the year.