Synergy of merger between NS and Wonik PNP
Target of ‘order balance of KRW 1 trillion by 2025’
Considering the construction of production plants in the US and Europe
Response to overseas demand… pr
Wonik Group’s secondary battery equipment integration corporation will be officially launched next month. The merged corporation will go as Wonik PNE. Wonik PNE set a goal to have the order backlog of KRW 1 trillion in 2025 centering on assembly and IR/OCV equipment process, and plans to become the world’s No. 1 battery manufacturing solution company.
On the 18th, CEO of NS Ki-chae Lee said, “We have decided to merge the business in consideration of the synergy of the merger between NS and Wonik PNE. The sales in 2023 are expected to be KRW 350 billion based on the earnings of both companies, and the target sales for 2024 is KRW 500 billion.”
Wonik took over assembly and IR/OCV equipment process companies, NS and Wonik PNE (formerly PNE Solution), last year. NS and PNE became Korea’s leading battery manufacturers. The merger took into account the synergy effect of both companies. CEO Lee emphasized, “We will strengthen our external status as a leading battery manufacturing equipment company according to the expansion of the secondary battery market, and secure competitiveness to supply both assembly and IR/OCV equipment process.”
Wonik PNE will respond to overseas battery demand and enhance its global production capacity. There are currently seven manufacturing sites, including Suwon, Gyeonggi-do and Ochang, Cheongju, North Chungcheong Province, that have an annual production capacity of 160 gigawatt hours (GWh). 160GWh is equivalent to 2.2 million EV batteries. LG Energy Solution, SK On, and Samsung SDI are responding to the demand for EV batteries.
Wonik PNE is also considering to build equipment manufacturing plants in the US and Europe in order to actively respond to overseas market growth as well as after-sales service (AS) to respond to existing customers. Wonik PNE aims to achieve KRW 1 trillion in order backlog in 2025 in response to the full-scale growth of rechargeable batteries.
<Interview> CEO of NS Ki-chae Lee
CEO of NS Lee said, “We will grow Wonik PNE, a subsidiary of Wonik Group’s secondary battery equipment, into the world’s top 5 battery solution company.” CEO Lee worked as the head of the battery technology team and the head of the manufacturing center for Samsung SDI. There are not many battery development experts in the battery equipment industry. Wonik PNE’s representative product is a cycler. Cyclers evaluate the lifespan and performance of batteries during R&D. Wonik PNE has a network with 300 domestic and foreign companies including auto manufacturers.
CEO Lee said, “NS and PNE are the largest battery equipment manufacturers with having domestic battery manufacturers as customers. Having this merger opportunity, we will not neglect on future investments in technology and human resources.” Wonik PNE and NS are considered as first-generation battery equipment manufacturers with 20 years of experience. They currently supply equipment in all types of form factors such as pouch type, square type, and cylindrical type to LG Energy Solution, SK On, and Samsung SDI. CEO Lee explained, “We will achieve technological differentiation through space-intensive facilities, high-speed equipment, and high efficiency in order to enhance the competitiveness of assembly and IR/OCV equipment process.”
Wonik PNE and NS recently collaborated with Mona Electric and PII, respectively, to prepare digital intelligence facility solutions for artificial intelligence, smart factory quality analysis, and yield improvement. The merging companies are also in the process to enter the battery recycling equipment market through cooperation with Sung-il HiTech. Collaborating with SoluM, the companies will work in EV charging infrastructure, and target overseas markets through the development of high-efficiency charging infrastructure.
By Staff Reporter Ji-woong Kim (jw0316@etnews.com)