UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT PURSUANT

TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

 

Date of Report (Date of earliest event reported): July 18, 2014

 

POLYPORE INTERNATIONAL, INC.

(Exact name of Registrant as specified in its charter)

 

Delaware

(State or Other Jurisdiction of Incorporation)

 

1-32266

 

43-2049334

(Commission File Number)

 

(IRS Employer Identification No.)

 

11430 North Community House Road, Suite 350,

Charlotte, North Carolina

(Address of Principal Executive Offices)

 

28277

(Zip Code)

 

(704) 587-8409
(Registrant’s Telephone Number Including Area Code)

 

Not Applicable
(Former Name and Former Address, if Changed Since Last Report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

o                                    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

o                                    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

o                                    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

o                                    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 



 

Item 8.01.  Other Events.

 

On July 21, 2014, Polypore International, Inc. (“Polypore”) announced that the United States District Court for the Western District of North Carolina has granted a motion by Celgard, LLC (“Celgard”), a subsidiary of Polypore, for a preliminary injunction against LG Chem, Ltd. and LG Chem America, Inc. (collectively “LG”). The judge’s order granting the injunction is currently under seal; portions of the order may be released in the future at the court’s discretion.

 

Celgard had requested a preliminary injunction to prohibit the importation, sale or offer for sale in the United States and inducement of others to use, sell or offer for sale lithium-ion batteries, including batteries used in electric drive vehicles and consumer electronics, which contain LG’s ceramic coated lithium-ion battery separator, until a full trial on the matter is concluded. The lawsuit and motion for injunction are based on Celgard’s assertion that LG infringes Celgard’s patent (United States Patent No. 6,432,586), which claims ceramic composite layer lithium-ion battery separators first developed by Celgard for high-energy rechargeable lithium-ion batteries.

 

A copy of the press release is filed as Exhibit 99.1 to this Current Report on Form 8-K.

 

Item 9.01.  Financial Statements and Exhibits.

 

(d) Exhibits.

 

Exhibit No.

 

Description

 

 

 

99.1

 

Press Release of Polypore International, Inc., dated July 21, 2014

 

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SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

POLYPORE INTERNATIONAL, INC.

 

 

 

 

 

 

Date:  July 21, 2014

By:

/s/ Lynn Amos

 

 

Lynn Amos

 

 

Chief Financial Officer

 

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Exhibit 99.1

 

Polypore International, Inc.

 

The Gibson Building

11430 N. Community House Rd, Suite 350

Charlotte, NC  28277

Tel: (704) 587-8886

investorrelations@polypore.net

www.polypore.net

 

 

 

FOR IMMEDIATE RELEASE

 

Polypore Receives Favorable Ruling On Preliminary Injunction Against LG Chem, Ltd.

 

CHARLOTTE, N.C. — July 21, 2014 — Polypore International, Inc. (NYSE: PPO), announced today that the United States District Court for the Western District of North Carolina has granted a motion by Celgard, LLC (“Celgard”), a subsidiary of Polypore International, Inc., for a preliminary injunction against LG Chem, Ltd. and LG Chem America, Inc. (collectively “LG”). The judge’s order granting the injunction is currently under seal; portions of the order may be released in the future at the court’s discretion.

 

Celgard had requested a preliminary injunction to prohibit the importation, sale or offer for sale in the United States and inducement of others to use, sell or offer for sale lithium-ion batteries, including batteries used in electric drive vehicles and consumer electronics, which contain LG’s ceramic coated lithium-ion battery separator, until a full trial on the matter is concluded. The lawsuit and motion for injunction are based on Celgard’s assertion that LG infringes Celgard’s patent (United States Patent No. 6,432,586), which claims ceramic composite layer lithium-ion battery separators first developed by Celgard for high-energy rechargeable lithium-ion batteries.

 

About Polypore International, Inc.

 

Polypore International, Inc. is a global high technology filtration company specializing in microporous membranes. Polypore’s flat sheet and hollow fiber membranes are used in specialized applications that require the removal or separation of various materials from liquids, primarily in the ultrafiltration and microfiltration markets. Based in Charlotte, N.C., Polypore International, Inc. is a market leader with manufacturing facilities or sales offices in nine countries serving six continents. See www.polypore.net.

 

Forward-Looking Statements

 

This release contains statements that are forward-looking in nature. Statements that are predictive in nature, that depend upon or refer to future events or conditions or that include words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “estimates,” and similar expressions are forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause our actual results and performance to be materially different from any future results or performance expressed or implied by these forward-looking statements. These factors include the following: the highly competitive nature of the markets in which we sell our products; the failure to continue to develop innovative products;

 

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the loss of our customers; the vertical integration by our customers of the production of our products into their own manufacturing processes; increases in prices for raw materials or the loss of key supplier contracts; our substantial indebtedness; interest rate risk related to our variable rate indebtedness; our inability to generate cash; restrictions contained in our senior secured credit agreement; employee slowdowns, strikes or similar actions; product liability claims exposure; risks in connection with our operations outside the United States, including compliance with applicable anti-corruption laws; the incurrence of substantial costs to comply with, or as a result of violations of, or liabilities under environmental laws; the failure to protect our intellectual property; the loss of senior management; the incurrence of additional debt, contingent liabilities and expenses in connection with future acquisitions; the failure to effectively integrate newly acquired operations; lithium market demand not materializing as anticipated; the absence of expected returns from the intangible assets we have recorded; and natural disasters, epidemics, terrorist acts and other events beyond our control. Additional information concerning these and other important factors can be found in the “Risk Factors” section of our most recent Annual Report on Form 10-K and subsequent reports filed with the Securities and Exchange Commission. Such forward-looking statements speak only as of the date of this press release. Polypore expressly disclaims any obligation to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Polypore’s expectations with regard thereto or change in events, conditions or circumstances on which any statement is based.

 

 

CONTACT:
Polypore International, Inc.
Paul Clegg

Investor Relations
(704) 587-8886
investorrelations@polypore.net

 

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