OM Group to buy EaglePicher Technologies

AP News
Posted: Dec 23, 2009 7:05 PM

An Ohio-based company says it has signed a deal to buy EaglePicher Technologies LLC in Joplin for nearly $172 million.

EaglePicher Technologies is a major manufacturer of batteries, battery management systems and energy devices for the defense, aerospace and medical industries. It's a subsidiary of EaglePicher Corp. of Dearborn, Mich.

The buyer is Cleveland-based OM Group, an international producer and seller of specialty chemicals and materials.

As part of the deal announced Wednesday, OM Group also is to assume certain pension and other retirement benefit obligations.

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EaglePicher Technologies reported revenues of about $125 million in its 2009 fiscal year. The company said about 60 percent of the revenues came from its defense business and 31 percent from its aerospace business.