Advanced materials specialist KNW (CEO Won-seok Oh) has begun efforts to improve profitability by reporting a net profit of surplus in the third quarter of 2021.

K&W announced its third-quarter 2021 earnings results on the 15th. According to the results, sales increased 44% year-over-year to KRW 24.1 billion, while operating profit reached KRW 900 million, returning to a surplus compared to the same period last year. Net income also returned to a surplus, reaching KRW 1.6 billion.

A company official said, “The positive effects are continuing after the acquisition of Fluorine Korea (formerly Solvay Korea Onsan Division), a semiconductor materials company that produces fluorine gas for semiconductor manufacturing, and the merger with GI Materials, an automotive seat parts company, in the first half of this year,” and “We will continue to improve our constitution through business restructuring and management improvement efforts to increase profitability.”

KNW is also pursuing the listing of Fluorine Korea, targeting 2023. We sent out a request for proposal (RFP) to multiple securities firms last September and plan to select a lead underwriter for the listing within this month.

K&W CEO Oh Won-seok stated, “We plan to secure additional growth momentum through the listing of our subsidiary Fluorine Korea and help the company leap forward as a mid-sized company.” He added, “We will secure market competitiveness through continuous investment and research and development, and diversify our business portfolio by resuming production of key additives for secondary battery electrolytes to respond to market demand.”