Asahi Kasei acquires Polypore

Asahi Kasei acquires Polypore

Asahi Kasei acquires Polypore

Asahi Kasei Corporation, a Japanese fiber and chemicals maker, agreed to buy Polypore International Inc.

 Asahi Kasei will pay $60.50 for each Charlotte share. The offer is with 14 percent premium above Friday closing price. Polypore rose up 13 percent to $59.55. in NYSE.

 This acquisition is the latest stream of investments in overseas by Japanese companies for example Japan Post Holdings, which acquired Toll Holdings for $ 5.1 Billion or Kintetsu World Express acquisiton logistic business from Neptune Orient Lines Ltd for $ 1.21 Billion.

“We are very excited to be joining forces with Polypore, an esteemed player in energy storage. The Environment & Energy is an area of strategic focus for us as we expand and grow, creating new value for the future. We look forward to combining our respective strengths in battery separator technology, achieving new innovations that contribute to solutions to the world’s environmental and energy challenges.” Toshio Asano, Asahi Kasei president, said in the statement

AK plans to invest 1 trillion yen ( $ 8.39 Billion ) over five years to improve capacity and boost its materials and battery businesses in China, South Korea, Thailand and the United States.

 “We are delighted to be announcing these transactions today. Both Asahi Kasei and 3M have highly recognized technology in their respective fields, and the combination of our Energy Storage business with Asahi Kasei and our Separations Media business with 3M are excellent strategic fits, which we believe create value for our people, customers and shareholders. When you combine our technology, process capabilities and material science expertise with their technology, global reach and broader resources, there’s a great opportunity to accelerate growth going forward.” Robert B. Toth, CEO of Polypore, said in the statement.

 The Japanese company will draw on new bridge loans and cas reserves to pay for the transaction.

 Polypore advior is Bank of America Merrill Lynch, while Mitsubishi UFJ Morgan Stanley Securities Co. advised Asahi Kasei

 This deal is regulatory approval.

 Mr. Stakebay says:

 This deal is strategic management vision, which helps Asahi Kasei to focus to leverage its existing technological and business competencies for expansion and growth and new innovations and solutions to enviromental and energy sectors.

 

ASAHI KASEI

POLYPORE

Revenue

$ 15.93 Billion (2014)

$ 636.3 Million (2013)

Operating income

$ 875.037 Million (2014)

$ 87.9 Million (2013)

Profit

$ 850.177 Million (2014)

$ 81.6 Million (2013)

Total assets

$ 16.073 Billion (2014)

$ 1.550 Billion (2013)

Total Equity

$ 7.66 billion (2014)

$ 691.6 Million (2013)

Employees

29 127 (2014)

2400 (2013)

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