Germany’s BASF acquires Novolyte Technologies

26 April 2012 09:11  [Source: ICIS news]

SINGAPORE (ICIS)--German producer BASF said on Thursday it has acquired US firm Novolyte Technologies, which manufactures electrolyte formulations for lithium-ion batteries, as well as specialty chemicals, for an undisclosed amount.

BASF purchasing Novolyte from Arsenal Capital Partners, a US-based private equity firm, the German company said in a statement.

“Within the framework of the acquisition, BASF will continue a joint venture of Novolyte with Korean partner Foosung Co, a global producer of the high-purity specialty salt lithium hexafluorophosphate (LiPF6), a key material for manufacturing lithium-ion battery electrolytes,” it said.

Novolyte has production sites in Baton Rogue, Louisiana and in Suzhou, China.

An additional site in Nantong, China, for LiPF6 production is currently under construction, and this will be operated by the Foosung-BASF joint venture, BASF said.

“With this recent acquisition, BASF is now positioned as a global supplier of lithium battery electrolytes with production sites in Europe, the US and Asia Pacific region,” said BASF executive director Andreas Kreimeyer said in the statement.

For more on BASF visit ICIS company intelligence

By: Pearl Bantillo
+65 6780 4359

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