MemRAY BT Begins Restructuring Non-Core Affiliates, Accelerating Efforts to Improve Financial Structure

[Financial News] KOSDAQ-listed MemRAY BT has begun improving its financial structure by reorganizing its affiliate business portfolio. The company has adopted a selective management strategy, focusing resources on high-growth businesses while trimming non-core assets.
MemRAY BT said on the 27th that as it has diversified into waste treatment, secondary battery recycling and overseas resource development over the past several years, some affiliates have been slow to contribute earnings, and the need to improve the group's overall financial efficiency has been raised internally.
The company emphasized, "We will review the business performance and growth potential of each affiliate and strengthen both financial soundness and profitability through asset efficiency measures."
The first asset under review is reportedly a site of about 52,669 square meters in the Gyeongsan Knowledge Industry Complex in North Gyeongsang Province, held by its waste-treatment subsidiary EcoLand. The site had originally been planned for an eco-friendly landfill facility that EcoLand would directly operate from next year, but it is now being considered for sale and other uses under the company's recent restructuring drive. In addition, YULHO TANZANIA LIMITED, a subsidiary developing mineral resources in the United Republic of Tanzania, is also said to be reviewing a range of options to improve business efficiency.
A MemRAY BT official said, "No detailed measures or timing have been finalized at this point. Specific decisions will be made after board resolutions and other procedures."
Its secondary battery recycling subsidiary, YULHO MATERIALS, will resume operations. A company official said, "We are currently focusing on producing black mass by recycling spent batteries at our plant in Hwaseong, Gyeonggi Province," adding, "As the secondary battery and renewable energy markets have recently shown signs of recovery, we will prepare to enter the market in line with the restart of operations."
The official added, "These broader efforts to improve business efficiency, including the restructuring of affiliates and the launch of YULHO MATERIALS' new operations, could have a positive effect on improving our financial structure over the medium to long term." The company said it will work to enhance shareholder value by strengthening financial soundness through the disposal of non-core assets, reducing losses through more efficient operations at overseas subsidiaries, and expanding sales through the launch of new plants.

[email protected] Choi Doo-sun Reporter