Korean Battery Supplier Sets Up Its European Stronghold In Hungary With Massive Production Capacity
2022. 11. 17.
CK EM Solution celebrated the opening of its first European plant in Heves, Hungary where heat sink glue is produced. The total investment of EUR 10.42 million is implemented in two stages, the first of which provides an annual capacity of 1,000 tons of heat sink glue used for EV battery production.
CK EM Solution Co., Ltd. is a subsidiary of ChoKwang Paint, a company listed on the South Korean stock exchange that has a history of 75 years in the paint industry. CK EM Solution was founded to broaden the business portfolio by focusing on future-proof solutions related to secondary batteries, semiconductors, drones and many more. The parent company maintains a global presence including in Vietnam and China, whereas CK EM Solution operates in the U.S. and Hungary. The latter site is also the first European location of the corporation.
The Hungarian operation, CK EM Solution HUN Kft. was established in Heves, located 100 km east from Budapest, with the purpose of facilitating entry to the European market. The newly inaugurated plant of 10,000 square meters has an initial annual capacity of 1,000 tons of heat sink glue which is enough to produce 200,000 EV batteries. First dry runs have already taken place on the premises.
On the other hand, the second stage of the EUR 10.42 mln investment foresees to extend yearly production capacities by 3,000 tons to meet growing customer demand and accelerate sales. The first stage of the project will result in creating 8 jobs.
The investment is implemented at a time when supply stability is gaining significance and demand for batteries is surging, and CK EM Solution’s technology as well as cost-based competitiveness actively attract customers of the relevant segment.
