BASF and TODA KOGYO Enter Negotiations to Collaborate in CAM in North America
OREANDA-NEWS. BASF, the world’s leading chemical company, and TODA KOGYO CORP., one of the industry leaders in the development and manufacture of chemicals and iron oxides, have announced that they will enter exclusive negotiations to collaborate in cathode active materials (CAM) and its respective precursors in North America.
The proposed collaboration would focus on the manufacture of a broad range of CAM and its respective precursors in North America for use in lithium-ion batteries for the automotive, consumer electronics and stationary storage markets.
TODA KOGYO CORP. and BASF, which have already collaborated in Japan in the form of BASF TODA Battery Materials LLC., would combine their respective CAM businesses in North America to strengthen their alliance in the global market. BASF would have a majority ownership stake in the proposed collaboration.
“This proposed collaboration builds on the already successful relationship between BASF and TODA and reinforces BASF’s commitment to the North American cathode materials market,” said Kenneth Lane, President of BASF’s Catalysts division. “We look forward to working with TODA to expand our mutually rewarding relationship, allowing us to combine our cathode materials expertise to serve the growing North American market,” Lane added.