Advertisement

If you have an ACS member number, please enter it here so we can link this account to your membership. (optional)

ACS values your privacy. By submitting your information, you are gaining access to C&EN and subscribing to our weekly newsletter. We use the information you provide to make your reading experience better, and we will never sell your data to third party members.

ENJOY UNLIMITED ACCES TO C&EN

Business

BASF Buys Battery Electrolytes Maker

by Marc S. Reisch
April 30, 2012 | A version of this story appeared in Volume 90, Issue 18

Continuing the expansion of its battery materials business, BASF has acquired Novolyte Technologies, a Cleveland-based maker of electrolytes for rechargeable lithium-ion batteries, from private equity firm Arsenal Capital Partners and South Korean chemical producer Foosung. Separately, BASF has purchased Novolyte Performance Materials, a maker of aryl phosphines, from Arsenal. The total purchase price was in the low triple-digit millions of dollars, a BASF spokesman says. Arsenal bought Novolyte for $66 million from Ferro in 2008. A joint venture between BASF and Foosung will continue to build a LiPF6 plant in Nantong, China. In February, BASF bought Ovonic Battery, a nickel-metal hydride battery technology licensor, and the lithium electrolytes and additives business of Germany’s Merck.

Article:

This article has been sent to the following recipient:

0 /1 FREE ARTICLES LEFT THIS MONTH Remaining
Chemistry matters. Join us to get the news you need.