Joint News Release
LUDWIGSHAFEN, GERMANY, AND SHANGHAI, CHINA, June 2, 2017 – BASF has signed an agreement to sell its electrolytes manufacturing site in Suzhou, China, to Shenzhen Capchem Technology Co., Ltd. (Capchem), one of the leading suppliers in the global electronic-chemicals and functional materials industry. 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.
About BASF’s Catalysts Division
BASF’s Catalysts division is the world’s leading supplier of environmental and process catalysts. The group offers exceptional expertise in the development of technologies that protect the air we breathe, produce the fuels that power our world and ensure efficient production of a wide variety of chemicals, plastics and other products, including advanced battery materials. By leveraging our industry-leading R&D platforms, passion for innovation and deep knowledge of precious and base metals, BASF’s Catalysts division develops unique, proprietary solutions that drive customer success. Further information on BASF’s Catalysts division is available on the Internet at www.catalysts.basf.com.
At BASF, we create chemistry for a sustainable future. We combine economic success with environmental protection and social responsibility. The approximately 114,000 employees in the BASF Group work on contributing to the success of our customers in nearly all sectors and almost every country in the world. Our portfolio is organized into five segments: Chemicals, Performance Products, Functional Materials & Solutions, Agricultural Solutions and Oil & Gas. BASF generated sales of about €58 billion in 2016. BASF shares are traded on the stock exchanges in Frankfurt (BAS), London (BFA) and Zurich (BAS). Further information at www.basf.com.
About Capchem’s Lithium-ion Battery Chemical Materials Business
The business of lithium-ion battery chemical materials is the largest business sector for Capchem. With the excellent technology research and development capabilities, refined production management levels, high-standard quality assurance capabilities and integrated solutions for customers, Capchem established interdependent cooperation relationship with worldwide main lithium-ion battery customers and keep the leading position in the industry. For more information about Capchem’s Lithium-ion Battery Chemical Materials Business, please visit www.capchem.com.
Capchem is a technology-based enterprise specialized in the research and development, production, sales and service of new electronic-chemicals and functional materials with its headquarter in Shenzhen, China. Capchem’s products are mainly divided into four series including lithium-ion battery chemical materials, capacitor chemical materials, organic fluorine chemicals and semiconductor chemicals. With the global top-ranking production scale, product quality and technology development capability, Capchem is providing extensive services to global customers in various fields including lithium-ion batteries, aluminum electrolytic capacitors, super capacitors, LCD panels, semiconductors, pharmaceuticals and so on. Capchem was listed in Shenzhen Stock Exchange (SZE) on January 08, 2010. For more information about Capchem, please visit www.capchem.com.
Cesar F. Garcia