Japanese chemical producer Asahi Kasei Corp. has signed an agreement to acquire Polypore International Inc., which is involved in the energy storage business.
Asahi Kasei will acquire Polypore’s Energy Storage business for US$2.2 billion. Asahi Kasei said it is focussing on the environmental solutions business, and the acquisition is in line with growing emphasis in the “energy storage material solutions, especially in automotive applications, against a backdrop of increasing motorization in emerging countries and heightening worldwide demand for eco-friendly cars such as electric vehicles and hybrid electric vehicles.”
Polypore has lithium-ion battery production plants in the US, South Korea, and China, and products that “complement Asahi Kasei’s strategies and objectives,” Asahi Kasei said. “Furthermore, the addition of Polypore’s lead-acid battery separator business, which has production plants in the US, Thailand, France, Germany, India, and China, will reinforce Asahi Kasei’s energy storage material businesses as a comprehensive supplier of a wide range of materials that meet diverse energy solution needs.”