The transaction covers all of the assets of Clariant’s energy storage business, which generated sales of about £11m in 2013.
The business, which employs about 100 people, supplies lithium iron phosphate (LFP) cathode material to the lithium-ion (Li-ion) battery sector for automotive and non-automotive applications.
The deal, which is expected to be completed early in 2015, includes Clariant’s Candiac manufacturing plant in Quebec, an R&D centre and pilot plant in Moosburg, Germany.
As part of the transaction, Johnson Matthey will secure rights to basic patents on LFP and its use as a cathode material, as well as several other key patents relating to LFP.
The company is also acquiring a portfolio of IP from Clariant covering the existing and future battery materials as well as a R&D group.
Upon completion of the transaction, Johnson Matthey’s two battery materials acquisitions will be integrated into a single entity, dubbed Johnson Matthey Battery Materials.
The new entity, together with the company’s battery systems business, will make up Johnson Matthey’s Battery Technologies business which sits within its new businesses division.
Johnson Matthey chief executive Robert MacLeod said: "This acquisition 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."
Image: Johnson Matthey will acquire Clariant’s energy storage business. Photo: Courtesy of Johnson Matthey.
