South Korean chemical company Posco Future M (KRX:003670) is considering selling its 10,000-ton capacity cathode materials plant in Gumi, Pulse News reported Friday, citing industry sources.
A company representative confirmed that the firm was exploring options for the plant's future use.
Established in 2012, the plant focused on lithium manganese oxide and nickel-cobalt-manganese cathode production but has been overshadowed by newer facilities in Gwangyang, Pohang, and joint ventures abroad, the report said.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.