Clariant sell off energy storage business to Johnson Matthey
Published: Wednesday, 29 October 2014
The sale shows how Johnson Matthey is strategically placing itself to become a key producer of Li-Fe-PO4 cathodes for the energy storage and electric vehicle market. It is interesting because Johnson Matthey have made this acquisition less than a month after it announced it would be buying A123 System’s Li-Fe-PO4 cathode plant in Changzhou, China.
Swiss chemical producer
Clariant has agreed to divest its energy storage business
line to UK-headquartered Johnson Matthey Plc for $75m.
The sale is expected to be finalised in early 2015.
Clariant is the largest hydrothermal lithium iron phosphate
((Li-Fe-PO4) producer in the world, a cathode
material for lithium-ion (Li-ion) batteries.