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IMM invests in South Korean electrical battery maker

South Korean private equity firm IMM Credit & Solutions is investing in Choil Aluminium, a South Korean maker of electric vehicle battery components, according to a report by Evertiq.

IMM, which is wholly owned by Korea’s private capital manager IMM Holdings Inc, will invest around $23.4 million in Choil, aimed at boosting Choil’s production of aluminium coils and sheets for batteries, cars, electronics and construction materials.

Choil recently signed a contract to supply aluminium strips to Lotte Aluminium Co, an aluminuim and packaging materials affiliate of Korean conglomerate Lotte Group.

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