johnson matthey powers up battery sector with acquisition - lithium iron battery
Johnson Mattel, a professional chemicals group, acquired a company that supplies materials for heavy chemicals
Battery can be used when it tries to power up in this area.
The company has agreed to pay $75 (£46m)
Acquisition of Switzerland
The energy storage business is headquartered in barnant AG.
Trade to FTSE 100-
Sets out Johnson Matthey's right to obtain patents and intellectual property rights related to the technology.
Limant is a leading supplier of lithium iron phosphate (LFP)
Cathode is an important part of rechargeable batteries found in a range of consumer goods.
The LFP battery is relatively light in weight, long in life and safe, and is ideal for electric and hybrid vehicles.
Johnson Mattel, the world's leading manufacturer of automotive exhaust catalytic converters, said the acquisition would provide growth opportunities.
It would like to introduce LFD technology to existing customers and take advantage of the R & D expertise of invant.
Johnson Mattel sells more UK orders for its gold and silver refining business
35 years old as the biggest part
Before Marussia's second f1 fleet entered the market, defense project auto dealer Lookers accelerated the deal, adding that Johnson Mattel bought China's LFP from A123 last month.
Robert McLeod, Johnson Mattel's chief executive, said: "The acquisition of the Corine battery materials business provides us with a strong position in the LFP, from which we can
"Further strengthening our battery technology capabilities is a key milestone in the development of our new business unit.
This marks an important step for Johnson Mattel.
Long-term strategy to build new business in neighboring markets with strong growth potential consistent with our technical capabilities.
"According to the agreement expected to be completed early next year, Johnson Mattel will acquire the manufacturing plant of Corain's energy storage division in Quebec, as well as the R & D center in Moosburg, Germany.
The unit employs approximately 100 staff members and lost approximately £ 11 in sales for the year ended December 31.