- BASF SE BASFY has secured land for its future cathode active materials and recycling site in Bécancour, Quebec, Canada. Financial terms were not disclosed.
- The company expects the investment to further enhance its CAM production footprint in North America by complementing its existing manufacturing sites.
- BASF targets project commissioning in 2025, subject to necessary approvals.
- The new site allows for ample space to expand up to 100 kt CAM per year with the potential for fully integrated precursor cathode active materials (PCAM) supply.
- The company held cash and cash equivalents of €2.62 billion as of December 31, 2021.
- Price Action: BASFY shares are trading lower by 7.36% at $14.09 on the last check Friday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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