Sumitomo Metal Mining Co., Ltd. agreed to acquire Lithium Iron Phosphate Battery Materials Business from Sumitomo Osaka Cement Co., Ltd..
February 21, 2022
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Sumitomo Metal Mining Co., Ltd. (TSE:5713) agreed to acquire Lithium Iron Phosphate Battery Materials Business from Sumitomo Osaka Cement Co., Ltd. (TSE:5232) on February 22, 2022. Transaction is expected to be closed on May 1, 2022.
Sumitomo Osaka Cement Co., Ltd. is primarily engaged in the cement business. The Company operates in seven segments. Cement segment manufactures and sells cement and ready-mixed concrete products, cements solidification materials, and provides marine and land transportation services, as well as quality testing and factory maintenance services. Mineral segment provides limestone products. Construction Material segment provides repair materials for concrete buildings. Photoelectron segment provides light related parts. New Material segment manufactures and distributes ceramic products, functional films and functional paints. Battery Material segment provides secondary battery positive-electrode materials. The Others segment is engaged in the leasing of buildings, provision of information processing services, as well as the undertaken of electrical equipment works.