Johnson Matthey Buys A123’s Cathode Material Production Plant

London-based Johnson Matthey plc has taken over production of the nanophosphate cathode material developed by bankrupt A123 Systems Inc.

The Livonia, Mich.-based company was acquired by China's Wanxiang Group Corp. last year and relaunched as A123 Systems LLC.

Johnson Matthey has finalized its acquisition of A123's production plant in Changzhou, China. Details were not announced. But the British company says it has signed a long-term agreement to supply as much of the cathode material to A123 as required.

Johnson Matthey also has agreed to work with A123 to develop and commercialize next-generation battery materials.