By Josh Beckerman
Livent Corp. (LTHM) said it reached a memorandum of understanding to supply lithium hydroxide to LG, starting in 2020.
Under the multiyear agreement, Livent would commit to "supply significant volumes of various specifications of lithium hydroxide to LG for multiple battery applications."
Livent also said its third-quarter revenue fell to $97 million from $112 million, as earnings per share fell to 12 cents from 24 cents.
Livent expects fourth-quarter revenue of $90 million to $100 million. The company said it plans to carry up to 4,000 metric tons of hydroxide inventory into 2020 to meet higher customer commitments.
The company expects hydroxide sales volumes of up to 26,000 metric tons next year.
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