Johnson Matthey’s $75m acquisition from Clariant AG

Sustainable technologies firm Johnson Matthey has beefed up its battery systems division with a $75 million bolt-on acquisition.

The group yesterday confirmed it had completed on a deal, first announced last autumn, to purchase the battery materials business of Swiss group Clariant AG.

The company has been building its presence in the high-tech sector since its £40m swoop for Dundee firm Axeon Power in 2012.

Rebranded as Johnson Matthey Battery Systems, the new owners have invested heavily in the business and last year paid $26m to acquire a Chinese lithium iron phosphate cathode manufacturing plant from A123.

In October, the firm said its ambition was to develop a broad portfolio of battery materials and products within its New Businesses division.