British chemicals and precious metals company Johnson Matthey has acquired the battery materials business of Swiss chemicals company Clariant AG (Clariant) for £47m.
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 research and development centre and pilot plant in Moosburg, Germany, together with the customer order book and a substantial IP portfolio.
The business, which employs around 100 people, is a supplier of lithium iron phosphate (LFP) cathode material to the lithium-ion (Li-ion) battery sector for both automotive and non-automotive applications.
For the year ended 31 December 2013, it had sales of around £11m and made an operating loss.
Johnson Matthey chief executive Robert MacLeod said: “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.”
He added: “These, together with our continued investment in battery materials research and development, 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.”