Slyke: Signs a framework agreement with Korea Dongwon Systems to jointly establish a joint venture company

Slack announced that the company has signed a memorandum of understanding on matters related to the proposed establishment of a joint venture with Korea’s Dongwon Systems.

Both parties plan to establish a new limited liability company in the U.S. state of Delaware as the exclusive entity for conducting its principal business, and to build and operate a production base in Mexico to supply cylindrical and square battery cases to Korea’s three largest battery manufacturers. Slack will supply ultra-thin metal forming process (DWI) production equipment to the production base.

The initial equity structure of the joint venture will be 75.01% for Dongwon Systems and 24.99% for Slack.

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