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BASF buys electrolytes business from top rival

By Agence France-Presse
Tuesday, February 21, 2012 7:35 EDT
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BASF chemical company. Image via AFP.
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BASF, the world’s biggest chemicals maker, said Tuesday it has agreed to buy the electrolytes business for high-performance batteries from rival Merck KGaA for an undisclosed sum.

The acquisition ”enhances the expertise we offer to automotive andbattery manufacturers around the world,” said board memberAndreas Kreimeyer.

Electrolytes ensure the transport of electric charges inside a battery.

“The electrolyte portfolio developed by Merck and their established market channels will provide additional impetus to our efforts to develop into a reliable supplier of electrolyte formulations,” Kreimeyer said.

Last week, BASF announced its acquisition of the US firm Ovonic, a global leader in nickel-metalhydride (NiMH) battery technology, for an undisclosed sum.

Agence France-Presse
Agence France-Presse
AFP journalists cover wars, conflicts, politics, science, health, the environment, technology, fashion, entertainment, the offbeat, sports and a whole lot more in text, photographs, video, graphics and online.
 
 
 
 
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