The announcement refers to the Kwinana plant, the Swedish plant, recycling and product development. It then goes on to mention Ecograf's battery anode material business. This terminology had been used in the past to describe the whole integrated business, both upstream and downstream. I believe Spinks is indeed referring to Epanko. Epanko is not currently factored into the SP.
Ann: POSCO & EcoGraf enter into Battery Anode Material Agreement, page-70
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