On October 22, Lopal Tech announced that LBM(AP), a second-tier controlled subsidiary of the company, intends to sell its 76% equity interest in PTLBM to KINETIQ for US$31.92 million. The transaction involves an Indonesian plant with an annual production capacity of 90,000 tonnes of lithium iron phosphate (LFP) cathode materials.
The transaction is intended to enable PTLBM to qualify for Non-PFE determination under the U.S. One Big Beautiful Bill Act (OBBBA) and to secure supply to North American customers. Upon completion of the transaction, PTLBM will no longer be included in the scope of the company's consolidated financial statements. The matter remains subject to approval by the Company's general meeting of shareholders.
Edited by Cassie Li, lixiangying@mysteel.com
