Lotte Energy Materials (020150.KS) said on the 3rd that it completed the sale of a 90% stake in its subsidiary Lotte Ecowall to Reelson Private Equity. The deal, worth 170.8 billion won ($123 million), followed a share purchase agreement the two sides signed in May.
The sale is part of the company's push to streamline its business portfolio and strengthen competitiveness in advanced materials. Proceeds will be channeled into its core copper foil business.
Lotte Energy Materials plans to upgrade its portfolio around high-value products, including circuit foil for artificial intelligence data centers, ultra-thin foil for semiconductors, and battery foil for energy storage systems and electric vehicles. The company will raise output capacity for high-value products at its Iksan plant, while expanding production at its Malaysian base to meet global demand for products such as ESS battery foil.
"We sold Lotte Ecowall to streamline the portfolio around our core business," a company official said. "We will concentrate our capabilities on strengthening competitiveness in high-value advanced materials."
Lotte's chemical affiliates, led by Lotte Chemical (011170), are pursuing a broader restructuring that streamlines non-core operations and shifts resources toward businesses with stronger growth potential.
