 "BASF and Toda Kogyo form JV for cathode active materials")
BASF and Toda Kogyo Corp, one of the leading manufacturers of cathode materials for lithium-ion batteries, have agreed to form a joint venture company - BASF Toda Battery Materials, LLC - for cathode active materials (CAM) in Japan.
Under terms of the agreement, while BASF will have 66 percent stake in new venture, Toda Kogyo Corp will hold the remaining stake. BASF and Toda Kogyo Corp will combine their respective CAM businesses, intellectual property and production assets in Japan in the joint venture, which is expected to be operational by the end of February 2015.
BASF Toda Battery Materials will focus on R&D, production, marketing and sales of a broad range of cathode materials including nickel cobalt aluminium oxide (NCA), lithium manganese oxide (LMO) and nickel cobalt manganese (NCM) in Japan. These materials are used in lithium-ion batteries for the automotive, consumer electronics and stationary storage markets.
The new venture will have an annual combined production capacity for cathode active materials and their precursors of approximately 18,000 metric tonnes. It will maintain a headquarters facility in Tokyo, with production sites in Sanyo Onoda and Kitakyushu, Japan.
“BASF’s joint venture with Toda Kogyo Corp will allow us to accelerate our growth and expansion in the global battery materials market, in line with our long-term targets,” said Kenneth Lane, President of BASF’s Catalysts division.
Tadashi Kubota, Chairman of Toda Kogyo Corp, added, “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.”
Under terms of the agreement, while BASF will have 66 percent stake in new venture, Toda Kogyo Corp will hold the remaining stake. BASF and Toda Kogyo Corp will combine their respective CAM businesses, intellectual property and production assets in Japan in the joint venture, which is expected to be operational by the end of February 2015.
BASF Toda Battery Materials will focus on R&D, production, marketing and sales of a broad range of cathode materials including nickel cobalt aluminium oxide (NCA), lithium manganese oxide (LMO) and nickel cobalt manganese (NCM) in Japan. These materials are used in lithium-ion batteries for the automotive, consumer electronics and stationary storage markets.
The new venture will have an annual combined production capacity for cathode active materials and their precursors of approximately 18,000 metric tonnes. It will maintain a headquarters facility in Tokyo, with production sites in Sanyo Onoda and Kitakyushu, Japan.
“BASF’s joint venture with Toda Kogyo Corp will allow us to accelerate our growth and expansion in the global battery materials market, in line with our long-term targets,” said Kenneth Lane, President of BASF’s Catalysts division.
Tadashi Kubota, Chairman of Toda Kogyo Corp, added, “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.”