Degussa in lithium-ion battery materials jv with Japan's Enax

22 June 2005 11:37  [Source: ICIS news]

LONDON (CNI)--German specialty chemicals company Degussa and Japanese battery manufacturer Enax, Tokyo, announced Wednesday that they are to form a 50:50 joint venture (jv), based in China, to develop materials for lithium-ion batteries.

 

Enax will provide technology and research and development for the jv while Degussa will acquire a worldwide exclusive licence to manufacture advanced electrodes for lithium-ion batteries.

 

The new company, Degussa Enax (Anqiu) Power Lion Technologies, will begin operations in Anqiu in China’s northern province of Shandong once approvals are granted by the Chinese authorities.

 

Electrodes produced at the site will be used by Enax at its facilities in Tianjing near Beijing and at Yonezawa in Japan. It is expected that electrodes will also be supplied to other battery manufacturers in Asia.

 

The global market for lithium-ion battery materials is estimated at $1.2bn (Euro980m) and grew at a double digit rate in 2004. Degussa expects the market to increase to around $4bn by 2015.

 

Degussa Chairman Utz-Hellmuth Felcht said: “The new joint venture underlines our determination to systematically expand Degussa’s presence in the attractive markets of Asia. We want to generate 25% of group sales in Asia over the long term.”

By: Mark Whitfield
+44 20 8652 3214

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