Reuters: Global Markets: Polypore shares fall on GM plans to idle Volt plant

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Polypore shares fall on GM plans to idle Volt plant Aug 28th 2012, 15:44 Tue Aug 28, 2012 11:44am EDT (Reuters) - Shares of Polypore International Inc (PPO.N) fell as much as 10 percent on reports that General Motors Co (GM.N) plans to temporarily halt production of Chevrolet Volt, which uses the filtration products maker's lithium battery separators. GM plans to idle the Michigan assembly plant, which makes the Chevrolet Volt for four weeks, according to suppliers and union sources. It will be the second time this year that GM has stopped making Volts at the plant. "We view this news as an incremental near-term negative for Polypore, given investors are keenly focused on the success of the Volt due to its high separator content," Brian Drab, an analyst with William Blair, said. Polypore supplies a component in the lithium battery used in the Volt to a battery manufacturer who then sells it to GM. Shares of the Charlotte, North Carolina-based company were down 7 percent at $31.58 on Tuesday on the New York Stock Exchange. It earlier touched a 21-month low of $30.60 on heavy volumes.

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