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€300M ($327.5M) boost in NMC production

Mon, 05/15/2017 - 10:44 -- Xuan Zhong
€300M ($327.5M) boost in NMC production

Global materials technology and recycling group Umicore plans to invest €300 million ($327.5 million) between 2017 and 2019 to further increase its production of NMC (nickel-manganese-cobalt) cathode materials for lithium-ion rechargeable batteries.

The Brussels-based company says demand for its NMC materials from electric vehicle manufacturers is outpacing the market and the increased capacity will enable it to cater for a surge in orders. The investment in its plants in South Korea and China will also enable the company to meet growing demand for its proprietary high-energy LCO (lithium cobalt oxide) cathode materials used in high-end consumer electronics.

 

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