Lithium Metal Technology Inc, Limtech have signed a letter of intent to acquire key lithium carbonate assets from its principal competitor ILiON Technology. The acquisition of goodwill and technology will cost Limtech approximately US$600,000.
Limtech are excited about the acquisition as it will consolidate their position as the world leader in the lithium carbonate market.
ILiON have also developed a high quality lithium carbonate related technology with excellent commercial potential. They also possess a diversified global client-base which will compliment that of Limtech.
ILiON will continue to develop other technologies not related to lithium carbonate after the conclusion of the transaction.
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