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Nov 01, 2024

Asahi Kasei and Honda Sign Shareholders’ Agreement to Convert Existing Asahi Kasei Subsidiary into Joint Venture for Production of Lithium-ion Battery Separators in Canada | AHKSY Stock News

Asahi Kasei and Honda have signed a shareholders' agreement to transform E-Materials Canada into a joint venture for lithium-ion battery separator production. Honda Canada will acquire a 25% stake

Asahi Kasei and Honda have signed a shareholders' agreement to transform E-Materials Canada into a joint venture for lithium-ion battery separator production. Honda Canada will acquire a 25% stake through new share subscription, with Honda's total investment reaching approximately C$417 million (US$300 million). The joint venture, to be renamed Asahi Kasei Honda Battery Separator , aims to combine both companies' strengths in material and electrification technologies to produce high-quality separators for lithium-ion batteries. Operations are planned to begin in early 2025, subject to regulatory approvals.

Asahi Kasei e Honda hanno firmato un accordo tra azionisti per trasformare E-Materials Canada in una joint venture per la produzione di separator per batterie agli ioni di litio. Honda Canada acquisirà una quota del 25% tramite l'emissione di nuove azioni, con l'investimento totale di Honda che raggiunge circa C$417 milioni (US$300 milioni). La joint venture, che sarà rinominata Asahi Kasei Honda Battery Separator, mira a combinare i punti di forza di entrambe le aziende nelle tecnologie dei materiali e dell'elettrificazione per produrre separator di alta qualità per batterie agli ioni di litio. Le operazioni sono programmate per iniziare all'inizio del 2025, soggette ad approvazioni regolatorie.

Asahi Kasei y Honda han firmado un acuerdo de accionistas para transformar E-Materials Canada en una empresa conjunta para la producción de separadores de baterías de iones de litio. Honda Canada adquirirá una participación del 25% a través de la suscripción de nuevas acciones, con una inversión total de Honda que alcanzará aproximadamente C$417 millones (US$300 millones). La empresa conjunta, que pasará a llamarse Asahi Kasei Honda Battery Separator, tiene como objetivo combinar las fortalezas de ambas compañías en tecnologías de materiales y electrificación para producir separadores de alta calidad para baterías de iones de litio. Las operaciones están previstas para comenzar a principios de 2025, sujetas a aprobaciones regulatorias.

아사히 카세이와 혼다는 E-Materials Canada를 리튬 이온 배터리 분리막 생산을 위한 합작 투자로 전환하기 위해 주주 협약을 체결했습니다. 혼다 캐나다는 새로운 주식 구독을 통해 25%의 지분을 인수하며, 혼다의 총 투자액은 약 C$417 백만 (US$300 백만)에 달할 것입니다. 새롭게 명명될 합작회사 Asahi Kasei Honda Battery Separator는 두 회사의 소재와 전기화 기술의 강점을 결합하여 리튬 이온 배터리를 위한 고품질 분리막을 생산하는 것을 목표로 하고 있습니다. 운영은 2025년 초에 시작될 예정이며, 규제 승인을 받아야 합니다.

Asahi Kasei et Honda ont signé un accord d'actionnaires pour transformer E-Materials Canada en une joint-venture pour la production de séparateurs de batteries lithium-ion. Honda Canada acquerra une participation de 25% par le biais d'une souscription de nouvelles actions, l'investissement total de Honda atteignant environ C$417 millions (US$300 millions). La joint-venture, qui sera renommée Asahi Kasei Honda Battery Separator, vise à combiner les forces des deux entreprises dans les technologies de matériaux et d'électrification afin de produire des séparateurs de haute qualité pour les batteries lithium-ion. Les opérations devraient débuter début 2025, sous réserve des approbations réglementaires.

Asahi Kasei und Honda haben eine Aktionärsvereinbarung unterzeichnet, um E-Materials Canada in ein Joint Venture zur Produktion von Lithium-Ionen-Batterietrennern zu transformieren. Honda Canada wird sich durch die Zeichnung neuer Aktien eine 25%ige Beteiligung sichern, und die Gesamtsumme der Investition von Honda wird etwa C$417 Millionen (US$300 Millionen) betragen. Das Joint Venture, das in Zukunft als Asahi Kasei Honda Battery Separator bekannt sein wird, zielt darauf ab, die Stärken beider Unternehmen in den Bereichen Material- und Elektrifizierungstechnologien zu kombinieren und hochwertige Trenner für Lithium-Ionen-Batterien herzustellen. Die Betriebsaufnahme ist für Anfang 2025 vorgesehen, vorbehaltlich der Genehmigungen durch die Aufsichtsbehörden.

TOKYO & NOVI, Mich. & DÜSSELDORF, Germany--(BUSINESS WIRE)--Asahi Kasei Corporation (Asahi Kasei) and Honda Motor Co., Ltd. (Honda) announced today that the two companies have signed a shareholders’ agreement to convert an existing Asahi Kasei subsidiary in Canada into a joint venture company. This agreement was reached as a result of continued discussions on collaboration for the production of lithium-ion battery separators in Canada based on the basic agreement the two companies announced on April 25, 2024.

Configuration for separator production in North America (Graphic: Business Wire)

The two companies plan to convert E-Materials Canada Corporation (E-Materials), a wholly owned subsidiary of an Asahi Kasei subsidiary in Canada, into a joint venture between Asahi Kasei and Honda to be renamed Asahi Kasei Honda Battery Separator Corporation (tentative name). This will be based on Honda Canada Inc., a Honda subsidiary in Canada, acquiring a 25% stake by subscribing to new shares to be issued by E-Materials through a third-party allotment. Honda will invest a total of approximately C$417 million (approximately US$300 million) combining the subscription of new shares and other investment in this joint venture. The two companies will combine each other’s strengths, such as high value-added material technologies and electrification technologies, to produce high-quality separators to be utilized for lithium-ion batteries that will accelerate the realization of high-performance electrified vehicles.

The two companies plan to establish and start the operation of the joint venture company in early 2025, subject to obtaining permits and approvals from relevant authorities.

“At the beginning of October we launched Asahi Kasei Battery Separator as a new company for the Hipore™ separator business to achieve more nimble management for this essential component of lithium-ion batteries. I am confident that we can continue to leverage the technology and experience gained with Hipore™ as well as our global network and diverse personnel to realize innovations in batteries for the future of energy storage. As Honda strives toward the goal of carbon neutrality by 2050, it is building a comprehensive electric vehicle value chain in Canada, where it has a history of conducting business for more than 50 years. Our partnership will not only establish stable supply of separators in North America, together we will enhance battery performance and durability to advance the energy transition through electric vehicles, making an important contribution to sustainability.”

- Company name:

Asahi Kasei Honda Battery Separator Corporation (tentative)

- Location:

Port Colborne, Ontario, Canada

- Capital:

Approximately C$240 million

- Investment ratio:

75% Asahi Kasei Battery Separator Canada Corporation

25% Honda Canada Inc.

Plant overview:

Integrated plant for the base film manufacturing and coating of Hipore™ lithium-ion battery separator

Total investment amount:

180 billion yen(with assumed exchange rate of 1 USD=145 yen)

Production capacity:

Approximately 700 million m2 per year (as coated film)

Start of operations

Commercial start-up scheduled in 2027

About Asahi Kasei

The Asahi Kasei Group contributes to life and living for people around the world. Since its foundation in 1922 with ammonia and cellulose fiber business, Asahi Kasei has consistently grown through the proactive transformation of its business portfolio to meet the evolving needs of every age. With more than 49,000 employees worldwide, the company contributes to sustainable society by providing solutions to the world’s challenges through its three business sectors of Material, Homes, and Health Care. For more information, visit www.asahi-kasei.com.

Asahi Kasei is also dedicated to sustainability initiatives and is contributing to reaching a carbon neutral society by 2050. To learn more, visit https://www.asahi-kasei.com/sustainability/.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241031415310/en/

North America Contact:Asahi Kasei America Inc.Christian [email protected] Contact:Asahi Kasei Europe GmbHSebastian [email protected]

Source: Asahi Kasei Corporation