This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Celgard Announces Expansion In Charlotte And New Manufacturing Site In Concord, Is Awarded Incentive Funding To Support Expansion Of Lithium-Ion Battery Separator Capacity In North Carolina

CHARLOTTE, N.C., Jan. 20 /PRNewswire/ -- Celgard, LLC, a wholly-owned subsidiary of Polypore International, Inc. (NYSE: PPO), and a leading global supplier of microporous separators used in lithium-ion batteries, today announced that it plans to expand capacity at its existing Charlotte, North Carolina facility and build a new manufacturing site in Concord, North Carolina.

As previously announced, Celgard will implement its lithium-ion battery separator capacity expansion in two phases.  In the first phase, Celgard will add capacity at its existing Charlotte, North Carolina facility. In the second phase, Celgard plans to build the aforementioned facility in Concord. Expansion of the Charlotte facility will start immediately. Construction of the new facility in Concord is expected to begin the second half of this year.

The expansion project will significantly increase Celgard's lithium-ion battery separator production capacity in the U.S. by 2012. It is expected to create more than 200 North Carolina jobs within Celgard and provide more than 1000 jobs among Celgard's contractors and suppliers.

Celgard could receive up to $18.6 million in cash incentives and tax credits from the State of North Carolina to support the company's plans to expand manufacturing production capacity within the state. The One North Carolina Fund and the Job Development Investment Grant (JDIG) program were among the incentives that supported the company's decision to expand capacity and create jobs in the State of North Carolina. One North Carolina Fund grants require a local match, and this grant is contingent upon approval of local incentives.

In August 2009, Celgard was selected to receive a grant award from the U.S. Department of Energy (DOE) for the same expansion project.  The DOE grant is part of the American Recovery and Reinvestment Act of 2009 (ARRA) that provides federal stimulus funding to support the creation of American jobs while promoting the development of U.S.-based advanced battery production for the Electric Drive Vehicle (EDV) market.

"We are thankful for the support we have received from the U.S. Department of Energy, the North Carolina congressional delegation, and the state and local governments.  We look forward to championing federal and local efforts to promote a greener economy," said Mitch Pulwer, Vice President and General Manager of Celgard. "This funding enables us to accelerate our investments in production capacity and create jobs here in North Carolina as we prepare to meet the increasing demand of the Electric Drive Vehicle market."
1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
PPO $0.00 0.00%
AAPL $117.81 0.00%
FB $105.45 0.00%
GOOG $750.26 0.00%
TSLA $231.61 0.00%


Chart of I:DJI
DOW 17,798.49 -14.90 -0.08%
S&P 500 2,090.11 +1.24 0.06%
NASDAQ 5,127.5250 +11.3820 0.22%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs