SEOUL — Samsung SDI Co., the battery division of Samsung Group, has finalized an agreement to purchase a stake in the Canadian mining company Canada Nickel. This move is part of an effort to ensure a steady supply of essential minerals for rechargeable batteries.
According to Yonhap News Agency, Samsung SDI will acquire an 8.7 percent stake in the company under a deal valued at US$18.5 million. This strategic acquisition aligns with Samsung SDI's broader plans to bolster its supply chain for key battery components.
Additionally, the deal grants Samsung SDI rights to 10 percent of the nickel-cobalt production from Canada Nickel's Crawford project in Ontario. There is also an option for Samsung SDI to claim an additional 20 percent of the production for a span of 15 years, which can be extended upon mutual agreement.
This latest agreement is part of Samsung SDI's ongoing strategy to secure necessary raw materials for rechargeable batteries, particularly in North America. The company has been actively expanding its presence in the region through the establishment of battery manufacturing facilities.
SEOUL — Celltrion Holdings Co., the parent entity of the prominent South Korean pharmaceutical firm Celltrion Inc., is reportedly making strides towards listing on the Nasdaq stock exchange. This development was shared by industry sources on Monday.According to Yonhap News Agency, Celltrion Holdings' Chairman Seo Jung-jin revealed the company's intentions for an initial public offering (IPO) on Nasdaq during an event hosted by the Federation of Korean Industries. Seo indicated that the IPO could occur as early as the end of this year, although further details were not provided by company officials.
The Nasdaq listing is a component of Celltrion's strategic plan to attain annual sales of 12 trillion won (approximately US$9.08 billion) by 2030, aiming to elevate its status as a major player in the global industry. In pursuit of this goal, Celltrion merged with its sales affiliate, Celltrion Healthcare Co., last year and is planning a further merger with its chemical drug-producing subsidiary, Celltrion Pharm Inc., later this year.