BASF and TODA KOGYO CORP. enter negotiations to collaborate in cathode active materials in North America
Tokyo, Japan and Ludwigshafen, Germany – August 9, 2016 – BASF, the world’s leading chemical company, and TODA KOGYO CORP., one of the industry leaders in the development and manufacture of chemicals and iron oxides, have announced that they will enter exclusive negotiations to collaborate in cathode active materials (CAM) and its respective precursors in North America.
The proposed collaboration would focus on the manufacture of a broad range of CAM and its respective precursors in North America for use in lithium-ion batteries for the automotive, consumer electronics and stationary storage markets.
TODA KOGYO CORP. and BASF, which have already collaborated in Japan in the form of BASF TODA Battery Materials LLC., would combine their respective CAM businesses in North America to strengthen their alliance in the global market. BASF would have a majority ownership stake in the proposed collaboration. “This proposed collaboration builds on the already successful relationship between BASF and TODA and reinforces BASF’s commitment to the North American cathode materials market,” said Kenneth Lane, President of BASF’s Catalysts division. “We look forward to working with TODA to expand our mutually rewarding relationship, allowing us to combine our cathode materials expertise to serve the growing North American market,” Lane added. “In contrast to the highly mature mobile electronics and IT industries, the automotive lithium-ion battery market is still in its infancy period. Starting last year, due to a stronger demand in China, the USA and the EU market, over 30% growth per annum is now expected in the coming years. In order to achieve a top position in this supply market, we must continue to maintain and improve our strong capabilities in safety, cost competitiveness, product performance, supply capacity and recycling areas,” said Tadashi Kubota, Chairman of TODA KOGYO CORP. “This proposed collaboration in North America plus the existing collaboration in Japan will create additional synergy effects on a global scale allowing us to achieve this goal and will further strengthen our presence in the market. We will continue to provide the appropriate response to the fast growing needs of our customers and this industry,” Kubota added.
About BASF’s Catalysts division
BASF’s Catalysts division is the world’s leading supplier of environmental and process catalysts. The group offers exceptional expertise in the development of technologies that protect the air we breathe, produce the fuels that power our world and ensure efficient production of a wide variety of chemicals, plastics and other products, including advanced battery materials. By leveraging our industry-leading R&D platforms, passion for innovation and deep knowledge of precious and base metals, BASF’s Catalysts division develops unique, proprietary solutions that drive customer success. Further information on BASF’s Catalysts division is available on the Internet at www.catalysts.basf.com.
About BASF
At BASF, we create chemistry for a sustainable future. We combine economic success with environmental protection and social responsibility. The approximately 112,000 employees in the BASF Group work on contributing to the success of our customers in nearly all sectors and almost every country in the world. Our portfolio is organized into five segments: Chemicals, Performance Products, Functional Materials & Solutions, Agricultural Solutions and Oil & Gas. BASF generated sales of more than €70 billion in 2015. BASF shares are traded on the stock exchanges in Frankfurt (BAS), London (BFA) and Zurich (AN). Further information at www.basf.com.
About TODA KOGYO CORP.
TODA KOGYO CORP. is specialized in the Wet Synthesis Technology of metal oxide, and manufacturing lithium-ion battery materials, coloring materials including pigments and toners, magnetic powder materials, ferrite materials and other various magnetic materials. We aim to expand our business globally along with our fundamental line to provide solutions to support society in the aspects of information, environment and energy. TODA KOGYO CORP. had consolidated net sales of about 28.5 billion JPY in the fiscal year 2015, and hold approximately 905 employees at the end of fiscal year 2015. More information on TODA KOGYO CORP. is available at www.todakogyo.co.jp.
Naotaka Tanimoto, Koji Miyahara
Corporate Planning Department
TODA KOGYO CORP.
+81-82-577-0055
Send email