Polypore has secured a five-year contract to supply Panasonic with its Celgard brand separators for use in large format lithium-ion cells.
This long-term agreement includes guaranteed purchase and supply volume requirements over the five-year term.
In a statement, Polypore CEO Robert Toth said: “After working closely together with Panasonic for many years, we are pleased to formalize our partnership with them. Panasonic is a leader in battery technology and is well positioned to grow as new vehicle models continue to be introduced to the market.”
In its first quarter 2014 results, Polypore reported sales of lithium-ion separators were $30.1m, up 23% compared with $24.4m the prior-year period, with higher volumes in electric vehicles partially offset by a decline in consumer electronics.
Polypore’s first quarter 2014 sales of lead-acid battery separators rose 5% to $79.1m from $76.1m in the corresponding quarter last year, driven by volume growth in Europe and Asia.