NORTH AMERICAN BUSINESS
  • HOME
  • SUSTAINABILITY
  • INVEST
  • MARKET
  • PARTNERSHIP
  • INNOVATION
  • PEOPLE
  • INSIGHTS
No Result
View All Result
NORTH AMERICAN BUSINESS
  • HOME
  • SUSTAINABILITY
  • INVEST
  • MARKET
  • PARTNERSHIP
  • INNOVATION
  • PEOPLE
  • INSIGHTS
No Result
View All Result
NORTH AMERICAN BUSINESS
No Result
View All Result
Home ALL Chemical

BASF to carve out mobile emissions catalysts business and invest up to €4.5 billion in battery materials and recycling

by Emma Jones
December 8, 2021
A A
  • Standalone mobile emissions catalysts and associated precious metal services entity will be headquartered in Iselin, New Jersey
  • BASF will further strengthen focus on battery materials and base metals recycling

With the shift toward electromobility, the automotive industry is currently in the middle of its biggest transformation in history. As the largest chemicals supplier to the automotive industry, BASF will further strengthen its focus on battery materials and recycling and will 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 standalone structure 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 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,” said Dr. 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.”

BASF Automotive Catalysts and Recycling will be a distinct legal entity structure, headquartered in Iselin, New Jersey, and 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.”

Additionally, BASF will further increase its focus on its e-mobility offerings. “BASF will become a leader in innovative and sustainable cathode active materials with a significant production capacity footprint in Asia, Europe and North America,” said Dr. Peter Schuhmacher, President of BASF’s Catalysts division. “The recently announced long-term battery materials strategy lays out an ambitious growth plan for battery materials and base metal services with targeted 2030 sales in excess of €7 billion. To implement its growth plan, BASF targets investments worth €3.5 billion to €4.5 billion between 2022 and 2030 in battery materials.”

Through this strategic focus on battery materials and the new set-up for the mobile emissions catalysts business, BASF will continue to offer automotive industry customers sustainable and innovative solutions.

Tags: < Invest | M&A
ShareTweetShareSend

Related Industries

Chemical

BASF breaks ground on MDI capacity expansion project at Geismar site

January 12, 2023
Dow named one of America’s most JUST Companies for the fourth year by JUST Capital
Chemical

Dow named one of America’s most JUST Companies for the fourth year by JUST Capital

January 11, 2023
Chemical

Celanese Recognized By Newsweek as one of America’s Most Responsible Companies

December 20, 2022
Chemical

3M’s school zone safety transformations making progress toward pedestrian visibility and road safety

December 16, 2022
Chemical

The Science of Speed: Dow and USA Luge renew long-standing partnership

December 15, 2022
Chemical

Dow further commits to automotive innovation with launch of selective adhesion liquid silicone rubber series

December 9, 2022

ABB sells Power Conversion division to AcBel Polytech Inc. for $505 million

January 21, 2023

...

Don Bailey Joins AIG as Global Head of Distribution and Field Operations

January 4, 2023

...

Randstad announces new leaders for Asia Pacific, North America and Technologies business.

January 6, 2023

...

IHG Hotels & Resorts Donates $500,000 to AHLA Foundation Human Trafficking Survivor Fund

January 25, 2023

...

Mark Parker To Be Named Chairman Of The Walt Disney Company

January 12, 2023

...

UC Investments Creates Strategic Venture with Blackstone to Invest $4 Billion in BREIT Common Shares

January 4, 2023

...

Medtronic recommends rejection of below-market mini-tender offer by TRC Capital Investment Corporation

January 26, 2023

...

The Ritz-Carlton Leadership Center Appoints Amanda Joiner as New Global Vice President

January 11, 2023

...

Mercedes-Benz to launch global branded high-power charging network, starting in North America

January 6, 2023

...

NORTH AMERICAN BUSINESS (www.na-biz.com) is a leading source of business and corporate news, information, industry trends, market updates and insights across a broad spectrum of industries in North America and worldwide.

INDUSTRIES

  • Aero
  • Agriculture
  • ALL
  • Automotive
  • Business Service
  • Chemical
  • Construction
  • Construction Materials
  • Consumer
  • Education
  • Energy
  • Entertainment
  • Environmental
  • F&B
  • Financial
  • Healthcare
  • Hospitality
  • Industrial
  • IT
  • IT Hardware
  • Logistic
  • Metal & Mining
  • Packaging & Paper
  • Rail
  • Real Estate
  • Telecom

CONTACT US

EDITORIAL:     editor#na-biz.com

PARTNERSHIP:     biz#na-biz.com

HUMAN RESOURCE:     hr#na-biz.com

* (replace # with @)

  • Official Site

Copyright © NA-BIZ.COM All rights reserved.

No Result
View All Result
  • HOME
  • SUSTAINABILITY
  • INVEST
  • MARKET
  • PARTNERSHIP
  • INNOVATION
  • PEOPLE
  • INSIGHTS

Copyright © NA-BIZ.COM All rights reserved.