FTC Gives Polypore Final Order To Sell Off 2008 Acquisition

   DOW JONES NEWSWIRES 
 

The U.S. Federal Trade Commission ordered Polypore International Inc. (PPO) to divest itself of the battery-components maker it acquired in 2008 because the takeover hurt competition.

The commission didn't indicate in a release what effect the latest order would have on an appeal process Polypore began last month after an earlier FTC ruling. The company, which makes filtration equipment, couldn't be reached immediately for comment.

The FTC's final order gives Polypore six months to sell Microporous Products LP to an approved buyer, according to the commission. Its five commissioners voted to uphold most of an earlier ruling in March by an administrative law judge.

The commissioners agreed that Polypore's takeover of its rival Microporous hurt competition in three of four North American markets for flooded lead-acid battery separators--membranes that go between the positive and negative plates of flooded lead-acid batteries.

Last month, Polypore said its third-quarter earnings nearly doubled as sales increased 10%.

Polypore shares were up a penny at $42.23 in recent trading. The stock has more than tripled in value in the last year.

-By Joan E. Solsman, Dow Jones Newswires; 212-416-2291; [e-mail]