Fino Secures Two Battery Material Supply Contracts from L&F

MT Newswires Live

Sep 04

Fino (KRX:033790) signed two supply contracts with L&F (KRX:066970) to provide nickel-cobalt-manganese (NCM) precursors used in secondary battery cathode materials, the telecommunications equipment company said in a Thursday filing with the Korea Exchange.

NCM is a key cathode material in the industry, usually used in electric vehicle batteries.

The orders, valued at 10.8 billion won and 6 billion won, are valid from Sept. 7 to Nov. 24 and from Aug. 28 to Nov. 3, respectively.

Both contracts specify outside production only, with payments to be made 55 days after receipt.

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