BASF, a producer of cathode active materials (CAM), plans to consolidate some of its business into a new legal entity called BASF Automotive Catalysts and Recycling beginning in January of 2022. The company will also invest up to €4.5 billion ($5 billion) in battery materials and recycling.
Based in New Jersey, the new entity will operate globally through 20 production sites and over 4,000 employees, who will focus on mobile emissions catalysts, automotive catalyst recycling, and precious metals. BASF also plans to expand its CAM manufacturing in Asia, Europe and North America.
“BASF continuously evaluates its portfolio. We want to give this business more entrepreneurial freedom and agility, so it can focus even better on the needs of its markets and customers,” said Dr. Markus Kamieth, a member of the Board of Executive Directors of BASF.