EaglePicher Broadens Portfolio of Lithium-Ion Power Solutions With Acquisition of Kokam Engineering
PHOENIX, AZ -- 12/03/2004 -- EaglePicher Incorporated today announced that it has completed its acquisition of a controlling interest in Kokam Engineering Company, Ltd. (Seoul, South Korea), a manufacturer of advanced rechargeable lithium-ion battery technology. EaglePicher’s power strategy dictates that it broaden its portfolio of lithium-ion solutions. Kokam’s advanced battery product designs and automated manufacturing technology place EaglePicher at the forefront of this technology. The Kokam business will operate under the name of EaglePicher Kokam Ltd., and its products will be sold under the EaglePicher brand.
“The demand for reliable, high-performance lithium-ion power solutions is burgeoning,” said John Weber, president and CEO of EaglePicher Incorporated. “This acquisition puts EaglePicher in an excellent position to meet the growing need for lithium-ion products that are safe, high quality and cost-effective.”
“EaglePicher is strengthening an already strong base of power solutions for its commercial and defense customers,” said Victor Grizzle, president of EaglePicher Commercial Power Solutions. “These products join unique offerings like our EaglePicher Horizon™ advanced lead acid batteries to address the needs of a variety of new applications in a wide range of industries.”
Heung-Tae (“H.T.”) Kim has been named president and CEO of EaglePicher Kokam. Most recently, Kim was the president of Amphenol Daeshin in Korea, and has previously held key positions at Berg Electronics and DuPont. Additionally, Kokam founder J.J. Hong will act as a senior advisor to EaglePicher regarding technology matters.
“Since Kokam’s inception in 1989, J.J. Hong has been the driving force behind its innovation in lithium-ion product development and high-volume manufacturing technology,” said Weber. “We look forward to continuing to work with J.J. and to his key contributions, which will help EaglePicher achieve its goal of becoming a major supplier of lithium-ion solutions worldwide.”
EaglePicher’s customers will benefit from Kokam’s patented lithium-ion pouch technology and the quality built into Kokam’s products through its outstanding automated production engineering technology. Noteworthy advantages of Kokam’s lithium-ion batteries are their high rate of discharge, light weight, packaging flexibility and rapid rechargeability. EaglePicher customers will now have access to powerful batteries whose size, weight and form factors make them ideal for motive and portable applications.
Initial uses for this technology include aviation, electric and hybrid electric vehicles, unmanned aerial vehicles, remote power, uninterruptible power supplies, radio-controlled devices and medical applications. EaglePicher will also apply this technology to defense applications appropriate for lithium-ion batteries.
Headquartered in Seoul, Kokam has 175 employees and two battery manufacturing operations in Korea.
EaglePicher Incorporated, founded in 1843 and headquartered in Phoenix, Arizona, is a diversified manufacturer and marketer of innovative, advanced technology and industrial products and services for space, defense, automotive, medical, filtration, pharmaceutical, nuclear power, semiconductor and commercial applications worldwide. The company has 3,900 employees and operates more than 30 plants in the United States, Canada, Mexico and Germany. Additional information on the company is available on the Internet at www.eaglepicher.com.
This release contains statements which, to the extent that they are not recitations of historical fact, constitute “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934. These include any statements about future business operations, financial performance or market conditions. Such forward-looking information involves risks and uncertainties that could cause actual results to differ materially. These risks and uncertainties are discussed in EaglePicher Holdings’ filings with the U.S. Securities and Exchange Commission.
EaglePicher™ is a trademark of EaglePicher Incorporated.
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