Dow Kokam Acquires the Assets of Kokam America

MIDLAND, Mich., Nov. 12 /PRNewswire-FirstCall/ -- Dow Kokam LLC, announced today its acquisition of substantially all of the assets of Kokam America Inc., a global leader in the lithium rechargeable battery market and source of Dow Kokam's superior lithium polymer battery technology.

"The acquisition of these assets is a natural extension to Dow Kokam's existing capabilities," said Ravi Shanker, Dow Kokam President and CEO. "Bringing the Kokam America expertise, patented manufacturing processes and existing facilities under the Dow Kokam franchise creates tremendous opportunity for Dow Kokam and brings application diversity to its portfolio."

"Kokam America's proven, scalable technology and industry expertise, paired with Dow Kokam's strength in manufacturing and channel to market makes this partnership a winning combination," said Don Nissanka, former CEO of Kokam America, Inc. "I am thrilled to now be part of the Dow Kokam leadership team bringing the most advanced battery technology into the automotive markets."

Kokam America, a Lee's Summit, Missouri-based corporation formed in October 2005, has supplied battery sustainment to the U.S. Department of Defense with advanced battery products developed, designed and patented by Kokam Co., Ltd. in South Korea.

Kokam Co. Ltd. is the primary patent holder of the Superior Lithium Polymer Battery (SLPB) technology. Through the acquisition of Kokam America's assets, Dow Kokam has the equipment and the capacity to manufacture the widest range of lithium polymer cells in production today and to extend its offering to the electric mobility industry.

About Dow Kokam LLC

Dow Kokam, a joint venture between The Dow Chemical Company (NYSE: DOW) and TK Advanced Battery LLC, was established in 2009 to develop and manufacture advanced energy storage technologies for the transportation and other industries. Drawing on the strengths of its parent companies, Dow Kokam offers a unique mix of patented technology, market knowledge, materials science capabilities and manufacturing expertise.

About Kokam America Inc.

Established in 2005, Kokam America is the U.S. affiliate of South Korea-based Kokam Co., Ltd., a global leader in the rapidly growing lithium rechargeable battery market. With U.S. facilities in Kansas City, Mo., Kokam America was the licensee and exclusive sales and distribution agent for North and South America for Kokam Co., which holds patents on the next-generation superior lithium polymer battery (SLPB) technology that provide significant manufacturing, efficiency and safety advantages over traditional lithium technology.

About The Dow Chemical Company

Dow is a diversified chemical company that combines the power of science and technology with the "Human Element" to constantly improve what is essential to human progress. The Company delivers a broad range of products and services to customers in approximately 160 countries, connecting chemistry and innovation with the principles of sustainability to help provide everything from fresh water, food and pharmaceuticals to paints, packaging and personal care products. In 2008, Dow had annual sales of $57.4 billion and employed approximately 46,000 people worldwide. The Company has 150 manufacturing sites in 35 countries and produces approximately 3,300 products. On April 1, 2009, Dow acquired Rohm and Haas Company, a global specialty materials company with sales of $10 billion in 2008, 98 manufacturing sites in 30 countries and approximately 15,000 employees worldwide. References to "Dow" or the "Company" mean The Dow Chemical Company and its consolidated subsidiaries unless otherwise expressly noted. More information about Dow can be found at www.dow.com .

SOURCE The Dow Chemical Company