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 ?xml:namespace>
Electrodes produced at the site will be used by Enax at its facilities in Tianjing near
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
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