BASF, TODA KOGYO CORP joint venture cathode active materials in japan

BASF, TODA KOGYO form cathode active materials JV in Japan

11:33 AM, 30th October 2014
BASF, TODA KOGYO CORP joint venture for cathode active materials in japan
BASF headquarters in Germany.

TOKYO, JAPAN/LUDWIGSHAFEN, GERMANY: BASF, the world’s leading chemical company, and TODA KOGYO CORP, an industry leader in the development and manufacture of cathode materials for lithium-ion batteries, have agreed to form a joint venture for cathode active materials (CAM) in Japan.

Under terms of the agreement, BASF will acquire a 66 per cent ownership stake in the new venture, with TODA KOGYO CORP holding a 34 per cent ownership stake. BASF and TODA KOGYO CORP will combine their respective CAM businesses, intellectual property and production assets in Japan in the joint venture, which will operate under the trade name BASF TODA Battery Materials, LLC. Closing of the joint venture agreement and the launch of operations for the newly formed company is expected to take place by the end of February 2015.

“We are pleased to announce an agreement to form a joint venture with BASF. Because the lithium-ion battery market continues to expand globally, we concluded that we need a strong alliance partner that would enable us to create more value than simple consolidation and to advance our cathode materials business synergistically. By forming a joint venture, we are confident that we will be able to strengthen safety, quality, cost competitiveness and global coverage and provide these key factors to the market to drive our joint success in this industry,” said Tadashi Kubota, Chairman, TODA KOGYO CORP.

 

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