Battery Materials Clariant Completes Sale of its Energy Storage Business
Specialty chemicals producer Clariant sold its battery materials business to the British multinational Johnson Matthey to reallocate capital towards its core areas.
Muttenz/Switzerland —The worldwide producer of specialty chemicals Clariant, announced the completion of the sale of its business line energy storage to Johnson Matthey Plc, which was announced on October 29th,2014. The sale was closed on February 28th 2015. The total consideration of the sale amounts to USD 75 million
"The divestment of the Energy Storage business with its LFP technology is part of our focused portfolio management and reallocating capital towards our core areas Care Chemicals, Catalysis and Energy, Natural Resources, and Plastics and Coatings," said Hariolf Kottmann, CEO of Clariant.
Commenting on the transaction, Robert MacLeod, Chief Executive of Johnson Matthey said: “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.”