OM Group acquires Yardney Technical Products in East Greenwich

YARDNEY Technical Products in East Greenwich was recently acquired by Cleveland-based OM Group Inc. Pictured is Yardney's president,  Vince Yevolli. / PBN FILE PHOTO/TRACY JENKINS
YARDNEY Technical Products in East Greenwich was recently acquired by Cleveland-based OM Group Inc. Pictured is Yardney's president, Vince Yevolli. / PBN FILE PHOTO/TRACY JENKINS

EAST GREENWICH – OM Group Inc. has acquired Yardney Technical Products for $24 million, according to a press release issued by OM Group this week.

Cleveland-based OM Group funded the acquisition of Ener-Tek International Inc., which operates under the brand name Yardney Technical Products, through existing cash balances.

Yardney, based in East Greenwich, is a designer, developer and manufacturer of high-performance lithium-ion and silver-zinc cells and batteries for niche applications in the defense and aerospace markets. In 2012, Yardney Technical Products’ lithium-ion batteries powered NASA’s Curiosity rover that landed on Mars.

Yardney will operate under OM Group’s EaglePicher battery business, enabling it to better serve its battery customers with a wider range of innovative solutions, OM Group said.
“The acquisition will increase OM Group’s lithium-ion technology capabilities and will provide a foothold into critical defense programs that are expected to grow at attractive rates,” OM Group said in the press release.
EaglePicher recently won a competitive project identified as the Lithium-Ion for Military Applications program to build lithium-ion manufacturing capability to support the U.S. military. The company said the acquisition will accelerate EaglePicher’s ability to address those needs, through a combination of each company’s lithium-ion capabilities for federal government applications.
EaglePicher Technologies produces batteries and energetic devices for the defense, aerospace, medical, commercial, grid-energy storage, and oil and gas industries; it has been in business for more than one hundred years.
Representative from OM Group and Yardney could not be immediately reached for comment.

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