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Speaking at an investor day in New York City last week, Seifi Ghasemi, CEO of Rockwood Holdings, said the firm might consider spinning off its lithium-based chemicals business in four to five years. Demand for lithium chemicals is expected to skyrocket with the production of electric cars powered by lithium-ion batteries. Ghasemi noted that “pure play” businesses are often more highly valued by investors than are conglomerates such as Rockwood. For now, though, the lithium business will remain a core part of Rockwood, he said, because it needs the R&D resources of a larger firm. Separately, Rockwood, lithium producer Sociedad Química y Minera de Chile, and Japanese trading firm Marubeni will fund the Lithium Innovation Center with Chile University, where it will be located.
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