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

Dow innovations recognized with Sustainability Product of the Year awards from the Business Intelligence Group

September 15, 2023
Chemical

DuPont Names Recipients of 2023 Lavoisier Medal and Pedersen Award

September 8, 2023
ALL

Dow named among the “PEOPLE Companies that Care®” for 4th consecutive Year

August 24, 2023
Chemical

DuPont Wins Four R&D100 Awards

August 24, 2023
Chemical

DuPont Announces Agreement to Divest ~80% Ownership in Delrin® Business to TJC

August 22, 2023
Chemical

Dow Technology Wins 2023 ICIS Innovation Award

August 11, 2023

Microsoft and Oracle expand partnership to deliver Oracle Database Services on Oracle Cloud Infrastructure in Microsoft Azure

September 15, 2023

...

IBM Announced as a Sponsor of 2023 U.N. Climate Change Conference (COP28)

September 14, 2023

...

AMGEN AND HORIZON THERAPEUTICS PLC RESOLVE FTC LAWSUIT, CLEARING PATH TO CLOSE ACQUISITION

September 2, 2023

...

KKR Increases Investment in USI Insurance Services

September 12, 2023

...

Apple unveils its first carbon neutral products

September 13, 2023

...

AIG Appoints Ed Dandridge as Executive Vice President and Chief Marketing & Communications Officer

September 22, 2023

...

Visa and Swift Team Up to Enhance Transparency, Speed and Security in Global B2B Money Movement

September 20, 2023

...

In confidential computing, data remains encrypted for as long as possible and until it is inside a secure enclave where it can be decrypted for processing. Encrypted computing takes confidential computing to a new level by using a technique called fully homomorphic encryption, which allows the hardware to process the data without it ever being decrypted. In essence, the processor performs calculations directly on the encrypted data. (Credit: Intel Corporation)

Intel Innovation 2023: Accelerating the Convergence of AI and Security

September 21, 2023

...

Harrington Process Solutions, a Leading Specialty Distributor of Flow Control Process Solutions, to be Acquired by Bain Capital Private Equity

September 8, 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.

MENU

  • HOME
  • SUSTAINABILITY
  • INVEST
  • MARKET
  • PARTNERSHIP
  • INNOVATION
  • PEOPLE
  • INSIGHTS

CONTACT US

EDITORIAL:     editor#na-biz.com

PARTNERSHIP:     biz#na-biz.com

HUMAN RESOURCE:     hr#na-biz.com

* (replace # with @)

  • Official Site

Copyright © NORTH AMERICAN BUSINESS All rights reserved.

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

Copyright © NORTH AMERICAN BUSINESS All rights reserved.