- (PLX AI) - BASF to carve out mobile emissions catalysts business and invest up to €4.5 billion in battery materials and recycling.
- • BASF carve-out process will start in January 2022 and is expected to take up to 18 months
- • BASF new standalone structure will allow for future strategic options
- • Standalone mobile emissions catalysts and associated precious metal services entity will be headquartered in Iselin, New Jersey
- • The new entity will continue to operate globally and comprise approximately 20 production sites and over 4,000 employees
- • BASF will further strengthen focus on battery materials and base metals recycling