BASF and Toda Kogyo close agreement for JV specializing in cathode materials for Li-ion batteries
24 February 2015
BASF and Toda Kogyo formally established “BASF Toda Battery Materials LLC” with the closing of their joint venture agreement announced in October 2014. (Earlier post.) The new company will provide cathode active materials (CAM) for lithium-ion batteries in Japan.
BASF Toda Battery Materials was established with 66% equity from BASF Japan Ltd. and 34% from Toda Kogyo CORP. The joint venture will conduct research and development, production, marketing and sales for a broad range of cathode materials, particularly NCA (Nickel Cobalt Aluminum Oxide), LMO (Lithium Manganese Oxide) and NCM (Nickel Cobalt Manganese) in Japan.
Internationally, the company will leverage BASF’s global network and reach to drive growth in the battery materials market, which BASF has identified as a key growth field for the future.
Yasuo Anno, who most recently served as Associate Senior Corporate Executive Officer, Toda Kogyo, and President of Toda Energy Materials, has been appointed Chief Executive Officer of the new venture.
Headquartered in Minato-ku, Tokyo, BASF Toda Battery Materials has production facilities in Sanyo-Onoda city, Yamaguchi Prefecture, and Kita-Kyushu city, Fukuoka Prefecture, Japan. It has a direct employee base of approximately 80, with annual combined production capacity for cathode active materials and their precursors of approximately 18,000 metric tons.
BASF Toda Battery Materials will operate as part of BASF’s global Battery Materials business. It will benefit from BASF’s position as the leading chemical supplier to the automotive industry as well as from Toda Kogyo’s marketing and technical capabilities and know-how in the battery materials industry.
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