Battery systems maker Axeon Group acquired by Johnson Matthey

21 November 2012

Axeon Group, Europe’s largest independent Lithium-ion battery systems supplier, recently was acquired by international specialty chemicals company Johnson Matthey. Axeon supplies battery systems for the automotive industry, as well as for high performance non-automotive applications such as cordless power tools and e-bikes.

Axeon develops and manufactures battery modules and systems utilizing a wide range of mostly lithium-ion based battery technologies sourced from third party suppliers. The company uses a range of cell chemistries, including Lithium Iron Phosphate and Lithium NCM, both suitable for electric vehicles.

Axeon has its headquarters and technology center in Dundee, Scotland, and its principal manufacturing and customer support facilities are located in Gliwice, Poland. While its automotive business is still primarily at the development stage, Axeon’s Gliwice facility will produce around three million battery packs this year, mostly for portable power tool and e-bike applications.

Axeon had sales of almost £47 million (US$75 million) in the financial year to 31 December 2011 and made a small operating loss in the year due to significant investment in development costs, principally for automotive applications.

The acquisition of Axeon marks an important step in our strategy to grow new business areas that build on our skills in advanced materials. Axeon has excellent prospects for growth and its knowledge of applications engineering and battery system design will inform our broader research and business development plans in battery materials for automotive and other high performance applications.

—Neil Carson, Chief Executive of Johnson Matthey

Johnson Matthey, founded almost 200 years ago, had revenues of more than £12 billion (US$19 billion) in the year to 31 March 2012.