(Yicai Global) Dec. 8 -- Shenzhen Selen Science & Technology Co. [SHE:002341] will become the world's biggest producer of aluminum-plastic film used for lithium battery casing following a CNY331 million (USD50.0 million) investment in a new production line, scheduled for completion in March next year.
Located in Changzhou in China's eastern Zhejiang province, the facility will produce three million square meters of film per month, the firm said in a press briefing yesterday.
The new production line will bring the firm's total monthly output to eight million square meters, with facilities in Changzhou and in Mie-ken, Japan making six million square-meters and two million square meters, respectively.
Selen has already completed construction of the production line and is now installing equipment.
The investment will allow more domestic battery makers to replace imports of aluminum-plastic film with localized supply, thereby reducing costs, the company said. Aluminum-plastic film is the only raw material used for lithium battery soft packaging.
The company's products have been supplied to the new energy automobile, aerospace, rail transit, protective equipment, construction material and packaging industries.
Selen previously completed an acquisition of Japan-based T and T Enertechno Co.'s soft package lithium battery aluminum-plastic film project in July last year.