04:37 PM EDT, 08/02/2024 (MT Newswires) -- Arcadium Lithium ( ARLTF ) late Friday said it acquired the lithium metal business of Canadian lithium processor Li-Metal for $11 million in cash.

The deal includes Li-Metal's pilot lithium carbonate processing facility in Markham, Ontario, along with its related intellectual property, which is expected to complement Arcadium's lithium chloride processing plant in Bessemer City, North Carolina.

Key personnel will be joining Arcadium as part of the acquisition. Li-Metal Co-Founder and Chief Technology Officer Maciej Jastrzebski has entered into a consulting agreement where he will assist with technology transfer and team integration.

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