On Wednesday, April 3, Lotte Aluminium Co., Korea’s biggest comprehensive packaging material company under Lotte Group, announced that it would split into two entities – Lotte Infracell and Lotte Packaging Solutions.
The company believes that this move will enable them to focus on respective areas of expertise. While Lotte Infracell will focus on secondary battery materials, Lotte Packaging Solutions will look after the packaging business.
Lotte Infracell will nurture its expertise in secondary battery materials, inheriting the aluminium foil business from Lotte Aluminium’s BM business division. Lotte Infracell aims to enhance the production and supply of high-quality battery-grade aluminium foil to tap the fast-growing EV battery market.
On the other hand, Lotte Packaging Solutions will take over Lotte Aluminium's packaging business division, focusing on a wide range of packaging operations, such as cans, soft packaging, corrugated cardboard, household products, and PET bottles.
Choi Yon-su, the chief executive officer of Lotte Aluminium, will continue to serve both the offspring companies as CEO.
The two new entities are also expected to carry on the legacy of Lotte Aluminium into environment preservation by establishing green vision and continuously maintaining and managing environment management system.
Recently, Lotte Aluminium’s efforts into sustainability were re-acknowledged by the Aluminium Stewardship Initiative. On March 26, the Aluminium Stewardship Initiative recertified Lotte Aluminium against Chain of Custody Standard V2 certification for manufacturing rolled products at its Ansan Plant, South Korea.
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