29 October 2014
DETAILS
Lithium iron phosphate (LFP) cathode material
to the lithium-ion (Li-ion) battery
today announced that it has entered into an agreement
to acquire
the battery materials business of Clariant AG (Clariant)
for US $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
As part of the transaction Johnson Matthey will gain
rights to basic patents on LFP and its use as a cathode material,
as well as a number of other important patents relating to LFP.
In addition, Johnson Matthey is acquiring
a portfolio of IP covering current and future battery materials
from Clariant and a well established R&D group.
Opportunities for growth
The transaction further strengthens
Johnson Matthey’s Battery Technologies business,
offering strong synergies and opportunities for growth.
Firstly,
it enables us freedom to operate within
the field of LFP cathode materials as supplier to
an established base of customers in a market
with strong growth potential.
In addition, the combination of
* Clariant’s Canadian manufacturing operations and
* the Chinese facility we acquired from A123
in September 2014
will allow us to optimise our LFP manufacturing capacity
to best meet our customers’ needs.
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.
Robert MacLeod
Chief Executive of Johnson Matthey
“The acquisition provides us with a strong position in LFP
from which to develop a broad portfolio of battery materials”
“The further strengthening of our battery technologies capability
is a key milestone in the development of
our New Businesses Division.
It marks an important step in
Johnson Matthey’s long term strategy to establish
new businesses in adjacent markets
with strong growth potential
that align with our technology competences.”
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