BASF to invest up to 4.5 million euro in battery materials and recycling
The new standalone structure, which will be headquartered in Iselin, New Jersey (USA), will prepare the business for the upcoming changes in the internal combustion engine market and allow for future strategic options. The new entity will continue to operate globally and comprise approximately 20 production sites and over 4,000 employees.
BASF will further strengthen focus on battery materials and base metals recycling, by investing up to 4.5 million euro in battery-related projects. BASF, which has lately announced a partnership with SVOLT on battery development and recycling, is about to establish a separate mobile emissions catalysts, automotive catalysts recycling and associated precious metal services entity. The new entity will be named BASF Automotive Catalysts and Recycling.
The new BASF facility on battery recycling in the US
The new standalone structure, which will be headquartered in Iselin, New Jersey (USA), will prepare the business for the upcoming changes in the internal combustion engine market and allow for future strategic options. The new entity will continue to operate globally and comprise approximately 20 production sites and over 4,000 employees. The carve-out process will start in January 2022 and is expected to take up to 18 months. Throughout this process, BASF’s top priority is business continuity for its customers, partners and employees. BASF Automotive Catalysts and Recycling will be led by Dirk Bremm as CEO.
«BASF’s mobile emissions catalysts and its recycling business units are industry leading innovators», said Bremm. «I’m excited to work with our dedicated and talented teams to seize the opportunities ahead of us and continue to develop and deliver solutions which help our customers to meet the ever increasing emissions regulations around the world».
More entrepreneurial freedom and agility
«BASF is proud of the impactful innovations developed by its teams in the mobile emissions catalysts, automotive catalysts recycling and associated precious metal services businesses. The continued focus on competitive, cost-effective, and innovative solutions has resulted in strong customer relationships and a solid earnings track record», added Markus Kamieth, Member of the Board of Executive Directors of BASF SE, responsible for the Surface Technologies segment. «BASF continuously evaluates its portfolio and with the carve-out we want to give this business more entrepreneurial freedom and agility, so it can focus even better on the needs of its markets and customers».
