POSCO FutureM considers selling Gumi anode material plant

Posco Future M is considering various options, including the sale of its anode material factory in Gumi.
In 2012, POSCO Group and Phoenix Materials, an affiliate of the Pogwang Group, established a joint venture called POSCO ES, which produces secondary battery materials.
POSCO ESM was established in 2013 as a wholly owned subsidiary of POSCO Holdings Co., Ltd., and a production plant was built in the Gumi National Industrial Complex. POSCO Group then increased its stake in POSCO ESM to 75.3% to become the largest shareholder, and in 2019 POSCO ChemTech was acquired by POSCO Holdings Co., Ltd.
The current POSCO Future M was born after absorbing POSCO ESM. The reason why POSCO Future M is considering selling its anode material plant in Gumi is not just because of its low production volume.
Rather, it is believed that the impact was due to the fact that POSCO Future M's main products, high nickel and single crystal anode materials, are not being produced.
Currently, POSCO FutureM has anode material production capacity of 185,000 tons per year in Korea, including Gwangyang and Pohang.
However, the annual production capacity of the Gumi plant is only 10,000 tons. A Posco FutureM official said, "We are adjusting our portfolio to accommodate changes in the company's main products.
"We are considering various options for using the land as a factory, including selling it," he said, adding, "Nothing has been finalized yet."