- BASF completes sale of fertilizer activities in Antwerp, Belgium, and in Ottmarsheim, France
- PETRONAS and BASF sign agreement for the construction of a new site in Pengerang, Malaysia
- BASF continues to strengthen its newly established Battery Materials business unit with acquisition of Ovonic Battery Company
- BASF purchases electrolyte activities from Merck, additionally expanding its portfolio of battery material technologies
BASF completed the sale of its fertilizer activities in Antwerp, Belgium, to EuroChem as of March 31, 2012, as planned. The antitrust authorities responsible gave their approval for the transaction. The total purchase price amounts to around €830 million. In addition, BASF sold its 50% share in the fertilizer producer PEC-Rhin in Ottmarsheim, France, to its joint venture partner, GPN. The transactions led to pre-tax disposal gains totalling €645 million in the first quarter of 2012.
PETRONAS and BASF have taken the next steps in the expansion of their partnership in Malaysia. The two companies signed an agreement for the construction of a new site in Pengerang. A new joint venture, in which BASF will hold a 60% share, will construct and operate the planned production facilities for isononanol, highly reactive polyisobutylene, non-ionic surfactants, methanesulfonic acid and precursor materials. Furthermore, PETRONAS and BASF are conducting a feasibility study to explore the possible expansion of their joint venture at the Verbund site in Kuantan.
BASF continued to strengthen its battery materials activities in the first quarter of 2012. After acquiring a share in Sion Power, the market leader in lithium-sulfur battery development, in December 2011, BASF acquired the Ovonic Battery Company in February 2012. The U.S. company is a license provider for nickel metal hydride (NiMH) battery technologies and produces cathode materials for this battery type. The purchase of Ovonic provides BASF with a leadership position in NiMH battery technology. The acquired activities will be integrated into the Battery Materials business unit, which was established in the Catalysts division at the beginning of January to combine BASF’s battery activities for electric mobility into one unit.
BASF is additionally expanding its portfolio of battery material technologies with the purchase of the electrolytes business from German company Merck, which was announced in February and completed in April. The acquisition includes a complete line of finished electrolyte formulations as well as a variety of additives for electrolytes used in producing lithium-ion batteries. Merck’s research portfolio for novel electrolytes and additives is also part of the acquisition.