Johnson Matthey acquiring Clariant AG's battery materials business $75 million

Johnson Matthey to acquire Clariant’s battery materials business for $75 million

10:27 AM, 29th October 2014
Johnson Matthey acquiring Clariant AG's battery materials business for $75 million

LONDON, UK: Johnson Matthey has entered into an agreement to acquire the battery materials business of Clariant AG for $75 million. The transaction, which is expected to complete early in 2015, covers all of the assets of Clariant’s Energy Storage business including its manufacturing facility in Candiac, Quebec, an R&D centre and pilot plant in Moosburg, Germany together with the customer order book and a substantial IP portfolio.

The transaction further strengthens Johnson Matthey’s Battery Technologies business, offering strong synergies and opportunities for growth. Furthermore, the transaction will accelerate product development through combining the expertise within Clariant’s battery materials R&D team with the depth and strength in advanced materials within the Johnson Matthey group. This will support our strategy to develop a broad portfolio of current and future generation battery materials for a range of high performance applications, particularly automotive.

“The acquisition of Clariant’s battery materials business provides us with a strong position in LFP from which to develop a broad portfolio of battery materials. It enhances our Battery Technologies business, complementing our recently acquired battery materials manufacturing assets and our expertise in battery systems. These, together with our continued investment in battery materials R&D will support our work to develop the next generation of higher performance products that can meet the challenging energy storage requirements of batteries for the automotive sector,” said Robert MacLeod, Chief Executive, Johnson Matthey.

Related News - Johnson Matthey completes acquisition of Catacel

 

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