HS Hyosung Advanced Materials

The European Commission approved the creation of a joint venture, Extra Mile Materials, by Umicore and HS Hyosung Advanced Materials Corporation (HSAM). The JV will develop, manufacture, and sell silicon-carbon composite materials for batteries.

HS Hyosung Advanced Materials announced a $30 million investment to establish a new subsidiary and build a tire cord factory in Nagpur, Maharashtra, India, with completion planned for 2027.