Asahi Kasei Corp. completed its acquisition of Polypore International, Inc. on August 26, 2015, making Polypore a wholly owned subsdiary of Asahi Kasei. This marks the completion of a definitive agreement signed on February 23 this year to acquire Polypore through a US subsidiary.
Prior to the acquisition by Asahi Kasei, Polypore divested its Separations Media segment to 3M Company. As acquired by Asahi Kasei, Polypore will continue to operate its Energy Storage segment focused on battery separators.
As a result of the completion of this transaction, Polypore’s stock is no longer traded on the New York Stock Exchange, and Polypore will cease to have reporting obligations under the Securities Exchange Act of 1934.
Polypore will operate as a core operating company of the Asahi Kasei Group and further development and growth of the battery separator business will be coordinated with Asahi Kasei E-materials Corp., the core operating company which operates Asahi Kasei’s established battery separator business.