BASF to spin off its automotive emissions catalysts business and invest 4.5 billion euros in battery materials and recycling

● A separate entity for the spin-off of motor vehicle emissions catalysts and related precious metals services will be headquartered in Ezerin, NJ, USA

● BASF will further focus on recycling of battery materials and base metals

The automotive industry is going through its biggest transformation in history as vehicles become electrified
.
As one of the largest chemical suppliers to the automotive industry, BASF will further focus on battery materials and recycling, and will establish independent entities for vehicle emission catalysts, autocatalyst recycling and related precious metal services
.
The new entity will be named "BASF Autocatalysts and Recycling"
.

This independent new structure was established to better address the upcoming changes in the internal combustion engine market, while also laying the foundation for future strategic choices
.
The new entity will continue to operate globally with approximately 20 production sites and more than 4,000 employees
.

The spin-off process will begin in January 2022 and is expected to take 18 months
.
Throughout the process, BASF's priority is to ensure business continuity for customers, partners and employees
.

Dr.
Markus Kamieth, Member of the Executive Board of BASF Europe, responsible for the Surface Technology business area, said: "The team has developed a series of highly influential products in the fields of automotive emission catalysts, autocatalyst recovery and related precious metals services.
Innovative technology, which BASF is proud
of.
Continued focus on innovative solutions that are competitive and cost-effective has enabled us to build strong customer relationships and generate stable profits
.
BASF will continue to evaluate its product portfolio, Through this spin-off, we hope to give this business area greater commercial freedom and flexibility to be more closely aligned with market and customer needs
.
"

BASF Autocatalysts & Recycling will be a separate legal entity headquartered in Ezerin, New Jersey, USA, with Dirk Bremm as CEO
.

"BASF's Vehicle Emission Catalysts and Recycling business units are industry-leading innovation pioneers ," said Bradley.

"It is a great honor to work with our talented and talented team
.
We will continue to develop and deliver on the opportunities we face.
Innovative solutions to help our customers meet increasingly stringent emissions regulations around the world
.
"

In addition, BASF will further focus on its e-mobility-related business
.
Dr.
Peter Schuhmacher, President of BASF's Catalysts Business Unit, said: "BASF will be a leader in innovative and sustainable cathode active materials, with large capacity deployments in Asia, Europe and North America
.
We recently announced a long-term battery materials strategy for batteries Materials and Base Metals Services has an ambitious development plan targeting sales of more than EUR 7 billion by 2030.

To implement this development plan, BASF aims to invest between 3.
5 billion and 45 billion euros in battery materials between 2022 and 2030.
billion euros
.
”

Through a strategic focus on battery materials and a new business structure for automotive emissions catalysts, BASF will continue to provide sustainable and innovative solutions to customers in the automotive industry
.