EaglePicher Technologies LLC (Joplin, MO) has signed an agreement to acquire a controlling interest in Kokam Engineering Co. Ltd. (Seoul, South Korea), a manufacturer of advanced rechargeable lithium-ion battery technology. The transaction is expected to close in December 2004. Financial terms of the deal were not disclosed.
EaglePicher has also signed an exclusive agreement to license Kokam's technology for government applications worldwide. EaglePicher will sell Kokam products globally outside of North Asia for industrial, commercial and selected defense applications. Under the agreement, Kokam will also distribute selected EaglePicher-branded products in North Asia.
Initial uses for the Kokam technology include electric and hybrid-electric vehicles, radio-controlled devices, and external medical applications. EaglePicher also will apply this technology to defense applications appropriate for lithium-ion batteries, including military communications systems and other portable applications.