BASF Acquires Land In Canada For Battery Materials, Recycling Expansion

March 4, 2022 2:41 PM | 1 min read |

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.

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