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BASF Buys U.S. Maker of Lithium-Ion Battery Electrolytes
BASF SE has acquired Cleveland-based Novolyte Technologies, a specialty chemical company whose products include electrolytes for lithium-ion batteries, for an undisclosed sum.
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BASF SE has acquired Cleveland-based Novolyte Technologies, a specialty chemical company whose products include electrolytes for lithium-ion batteries, for an undisclosed sum.
Under the acquisition BASF will continue Novolyte's joint venture with South Korea's Foosung Co. Ltd., a maker of specialty salts used in lithium-ion battery electrolytes.
Novolyte, which employs 167 people, operates plants in Louisiana and China.
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