Polypore Announces Additional $105M Expansion of Lithium-Ion Battery Separator Capacity for Electric Drive Vehicles

Polypore International, Inc. PPO today announced that it has approved additional capital expenditures of approximately $105 million to expand its lithium-ion battery separator capacity for Electric Drive Vehicles ("EDVs"). This expansion is expected to be at the Company's facility in Concord, North Carolina pending final approval in early August of proposed local incentives by the City of Concord and Cabarrus County. This latest expansion, which is the fifth phase of EDV-targeted expansion announced since August 2009, is expected to begin ramping up in late 2013 and be fully operational in 2014. Robert B. Toth, Chairman, President and Chief Executive Officer, said: "We are experiencing an accelerating demand curve associated with the growth of Electric Drive Vehicles, and the size and scale of our investments are in response to that acceleration. We have been working closely with key customers to evaluate this, as well as the growth rate in consumer electronics applications, and the related impact on our capacity. This latest investment is consistent with our commitment to make the necessary investments to capitalize on this growing demand."