OM Group (NYSE: OMG) today announced that it has signed a definitive agreement to acquire EaglePicher Technologies, (EaglePicher) right EaglePicher Group, a wholly-owned subsidiary of $171.9 million.
Is headquartered in Joplin, Missouri, EaglePicher is the design and manufacture of batteries, battery management systems for defense, aerospace and medical device industryIBM ThinkPad R50 battery，IBM ThinkPad R51 battery， IBM ThinkPad R52 battery leader in energy. In the past 50 years, the company offers a variety of techniques, high-performance products and industry solutions, extensive product line of leading companies. EaglePicher is also actively seeking opportunities, will use its advanced storage technology strength for the rapidly growing alternative energy market.
In the 2009 fiscal year, EaglePicher recorded some 125 million U.S. dollars, of which about 60 percent from its defense business since the aviation business from about 31-fold, their medical and other business income balance.
He said: “EaglePicher proposed acquisition is our portable power platform, a logical extension of another acquisition we want to change our business model type of good example, said:” Joseph Scaminace, OM Group Chairman and Chief Executive Officer . “Similar to enhance our market position in other key areas of the OMG through our transformation strategy, we believe that EaglePicher will provide us with a strong and profitable basis, we can accelerate our growth in the battery material.”
According to Scaminace, “as we go through a careful evaluation process, there are several key factors, clearly identified as a priority EaglePicher, including its earnings recognized the establishment of terminal market leadership position, its strong and lasting customer relationships, as well as its broad range of R & D and technical expertise, advanced battery systems, as well as a variety of chemical batteries, will allow it to pursue emerging, high-growth markets.
With the EaglePicher “, OM Group will not only balance the high-quality products, high value-added materials and a world-class, market-oriented technologies, but will establish an effective way so that we can bring our wide range of materials closer to the end users. As we have pointed out many times in the past to discuss the transformation of our strategy to move along the value chain of materials to, is a long-term development must be an important component. With Landimoer, EaglePicher’s president and help him the experience and talent team, we believe we have taken an important step toward that goal. ”
The proposed transaction, which is IBM ThinkPad T40 battery， IBM ThinkPad T41 battery， IBM ThinkPad T42 batterysubject to customary closing conditions and is expected to close in the first quarter of 2010. The transaction will be funded by OMG’s existing cash and credit.
About EaglePicher
EaglePicher Technologies Co., Ltd. is a leading producer of batteries and equipment supplier dynamic defense, aerospace and commercial industries, and to provide the richest experience and the most extensive battery electrochemistry of any battery supplier in the United States ability. EaglePicher technology provides battery technologies, including thermal, nickel hydrogen, lithium carbonmono fluoride, lithium thionyl chloride, lithium manganese dioxide, lithium sulfur dioxide, lithium-ion batteries, lithium-halogen oxygen reserves, custom battery assemblies and silver zinc batteries. It also provides for the defense industry and other energy products and pyrotechnic devices, as well as advanced battery chargers, commercial and other power solutions for industrial and entertainment applications.
About OM Group Co., Ltd.
OM Group, Inc. is a diversified global developer, manufacturer and marketer of value-added specialty chemicals and the necessary complex chemical and industrial processes advanced materials. The key technology-based end applications, including affordable energy, portable power, clean air, clean water and proprietary products and services to the microelectronics industry. Cleveland, Ohio, OM Group’s operational headquarters in the Americas, Europe, Asia and Africa, production facilities.
Forward-looking statements
The above discussion may include forward-looking of the Private Securities Litigation Reform Act of 1995 statement of the purpose of the safe harbor provisions. These forward-looking statements are based on certain assumptions and are subject to uncertainties involved in the company’s operations and business easy battery environment, all of which are difficult to predict, many of which are beyond the control of the company. These uncertainties and factors could cause the Company’s actual results to differ materially from those expressed or implied by the forward-looking in the preceding discussion contains forward-looking statements. Such uncertainties and factors include: the potential impact of the current global economic and financial market crisis may impact on our business and operations, including the future goodwill impairment; direction, including the identification and potential acquisition of the financing capacity of our strategic transformation the pace; of EaglePicher technology, these companies and the successful integration of acquired businesses, our key operating facilities, uninterrupted operation; the speed and price changes in cobalt sustainability; as a potential lower cost or market write the book value of fluctuations in market prices by the Cobalt or the company’s selling price of the final product have the necessary inventory, the price of raw materials and competitive supply, in particular cobalt metal demand for the company’s market-based specialty chemicals and products ; impact of environmental regulations on our operating facilities and the impact of new or existing environmental, health and safety laws on our products and their customers to use our changes in the exchange rate fluctuations affect the company’s international operations; affect non - investment and abroad, including political, social, economic and management of currency risk factors for action in the domestic or international tax law changes, as well as global economic activity and the overall level of demand for the company’s products.