BASF buys electrolytes business

BASF, the world's biggest chemicals maker, said Tuesday it has agreed to buy the electrolytes business for high-performance batteries from rival Merck KGaA for an undisclosed sum. The acquisition "enhances the expertise we offer to automotive and battery manufacturers around the world," said board member Andreas Kreimeyer. Electrolytes ensure the transport of electric charges inside a battery. "The electrolyte portfolio developed by Merck and their established market channels will provide additional impetus to our efforts to develop into a reliable supplier of electrolyte formulations," Kreimeyer said. Last week, BASF announced its acquisition of the US firm Ovonic, a global leader in nickel-metalhydride (NiMH) battery technology, for an undisclosed sum.