BASF to sell electrolytes manufacturing site
BASF has signed an agreement to sell its electrolytes manufacturing site in Suzhou, China, to Shenzhen Capchem Technology Co., Ltd. (Capchem). The transaction is expected to close in the next 60 to 90 days, subject to regulatory approval and other customary closing conditions.
BASF is shifting its focus in the battery materials space to high energy cathode materials where it has a strong IP and technology portfolio.
“We are focusing our resources where we are best positioned to grow and serve our customers with high value products,” said Jeffrey Lou, Senior Vice President, Battery Materials, Catalysts division, BASF.
Capchem’s acquisition of the Suzhou manufacturing site allows the company to expand its electrolytes capacity, improve the international influence and consolidate its global leadership.
“This agreement with BASF is a milestone for the internationalization of Capchem. Today, Capchem is the electrolyte market leader in China and this new venture will position us as an international leader as well,” said Johnson Qin, Capchem Chairman of the Board.
Financial details of the transaction will not be disclosed.
Most read news
Other news from the department business & finance

Get the chemical industry in your inbox
By submitting this form you agree that LUMITOS AG will send you the newsletter(s) selected above by email. Your data will not be passed on to third parties. Your data will be stored and processed in accordance with our data protection regulations. LUMITOS may contact you by email for the purpose of advertising or market and opinion surveys. You can revoke your consent at any time without giving reasons to LUMITOS AG, Ernst-Augustin-Str. 2, 12489 Berlin, Germany or by e-mail at revoke@lumitos.com with effect for the future. In addition, each email contains a link to unsubscribe from the corresponding newsletter.
Most read news
More news from our other portals
See the theme worlds for related content
Topic World Battery Technology
The topic world Battery Technology combines relevant knowledge in a unique way. Here you will find everything about suppliers and their products, webinars, white papers, catalogs and brochures.

Topic World Battery Technology
The topic world Battery Technology combines relevant knowledge in a unique way. Here you will find everything about suppliers and their products, webinars, white papers, catalogs and brochures.