- Fino will raise its ownership in C&P New Material Technology from 29% to 75%.
- The company is developing an LFP cathode material manufacturing facility in Pohang.
Fino Co., Ltd., the South Korean subsidiary of CNGR Advanced Material Co., Ltd., will strengthen its control of C&P New Material Technology through a significant share acquisition effective June 16. Under the transaction, Fino will purchase 1,405,752 shares from CNGR Hong Kong Hongchuang New Energy for KRW 28.2 billion (JPY 3.1 billion), increasing its ownership position in the battery materials company.
Following completion of the deal, Fino's stake in C&P New Material Technology will increase from 29% to 75%. At the same time, CNGR Hong Kong Hongchuang New Energy's ownership will decrease substantially from 51% to 5%. This transaction strengthens Fino's position within the company's ownership structure and gives it a controlling interest in future operations and strategic decisions.
Despite the ownership restructuring, Posco Future M will retain its existing 20% stake in C&P New Material Technology. The continued participation of Posco Future M maintains the company's established shareholder base while supporting ongoing development activities in advanced battery material manufacturing.
C&P New Material Technology is currently constructing a dedicated manufacturing facility for lithium iron phosphate (LFP) cathode materials in South Korea. The plant is being developed in Pohang, Gyeongsangbuk-do, and is expected to support growing demand for LFP battery materials as the automotive and energy storage industries continue to expand their adoption of lithium iron phosphate battery technologies.
Frequently Asked Questions
What ownership stake will Fino hold in C&P New Material Technology after the transaction?
After completing the acquisition, Fino will hold a 75% ownership stake in C&P New Material Technology. The increase results from purchasing 1,405,752 shares from CNGR Hong Kong Hongchuang New Energy for KRW 28.2 billion. This transaction raises Fino's ownership from 29% to 75%, giving the company a controlling interest. Meanwhile, CNGR Hong Kong Hongchuang New Energy's stake will decline to 5%, while Posco Future M will continue holding a 20% share in the company.
What project is C&P New Material Technology currently developing?
C&P New Material Technology is developing a dedicated manufacturing facility for lithium iron phosphate cathode materials in Pohang, Gyeongsangbuk-do. The project is focused on supporting LFP battery production, a segment experiencing increasing demand due to wider adoption in electric vehicles and energy storage applications. The facility is expected to strengthen domestic battery material manufacturing capabilities in South Korea and support the broader battery supply chain as demand for cost-effective and durable battery chemistries continues to grow.
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