Announcement regarding Transfer of Energy Storage Devices and Systems Business
July 08, 2021
Showa Denko Materials Co., Ltd.
Showa Denko Materials Co., Ltd. (President and CEO: Hisashi Maruyama; hereinafter referred to as the “Company”) has determined by its board of directors today that (i) the Company shall have a newly established, wholly owned subsidiary of it named Energy Storage Devices Spin-Off Preparation Co., Ltd. (hereinafter referred to as “NewCo”; its company name shall be hereafter changed upon discussion) succeed the energy storage devices and systems business in which the Company is engaged at its Saitama Works and Nabari Works through an absorption-type company split, thereafter, (ii) the Company shall transfer all shares of NewCo and the directly or indirectly owned shares of Energy System Service Japan Co., Ltd., CSB Energy Technology Co., Ltd., Siam Magi Co., Ltd., Thai Energy Storage Technology Public Company Limited, Thai Nonferrous Metal Co., Ltd., 3K Products Company Limited, and Power Plas Company Limited to Sustainable Battery Solutions, Inc. (President and Chief Executive Officer: Toru Indo), operated by Sustainable Battery Holdings, Inc. whose largest shareholders are the funds served by Advantage Partners Inc. .
Please refer to the attached PDF file for details.
Announcement regarding Transfer of Energy Storage Devices and Systems Business
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Public Relations Group, Brand Communication Department