EaglePicher Technologies LLC sold to OM Group

Joplin-based EaglePicher Technologies LLC announced Dec. 23 that it has signed a definitive agreement of sale to OM Group Inc. (NYSE: OMG) for $171.9 million. The sale also includes the assumption by Cleveland-based OM Group of some EaglePicher pension and retirement benefit obligations. The sale should be final by the middle of first-quarter 2010.

EaglePicher Technologies is a wholly owned subsidiary of Dearborn, Mich.-based EaglePicher Corp. (NYSE: EPC). The company manufactures batteries, battery management systems and energy devices for the defense, aerospace and medical industries.

In fiscal 2009, EaglePicher Technologies recorded revenues of about $125 million, of which about 60 percent came from its defense business, about 31 percent from its aerospace business and the balance from its medical and other businesses. It also provides other energy products and pyrotechnic devices for the defense industry, as well as advanced battery chargers and other power solutions for business, industrial and recreational applications.

"This acquisition gives EaglePicher Technologies the opportunity to broaden its reach in the aerospace, defense and medical industries, as well as expand into emerging markets," EaglePicher Corp. president and CEO David Treadwell said in a news release.

EaglePicher Corp. operations include EP Minerals, a global supplier of diatomaceous earth products headquartered in Reno, Nev., and Wolverine Advanced Materials, a supplier of specialty materials to the automotive and industrial markets.

OM Group shares closed Dec. 24 at $32.55, compared to a 52-week range of $13.90 to $35.97.