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Sumitomo Chemical Licenses Polypore's Intellectual Property Rights on Battery Separator Coating

January 6, 2014

Polypore International, Inc. and Sumitomo Chemical Co., Ltd. have entered into a Settlement and License Agreement which ends all outstanding worldwide litigation between the two companies related to Polypore's intellectual property rights on battery separator coating. Under the License Agreement, Sumitomo Chemical has licensed Polypore's intellectual property related to coating separators for lithium-ion batteries. The financial terms of the agreement include an up-front payment to Polypore as well as recurring royalties.