Materials firm Umicore has agreed a third patent deal to acquire US technology firm 3M’s lithium-ion cathode IP.
Belgium-based materials technology giant Umicore will spend $181 million on expanding its nickel manganese cobalt (NMC) production facilities in China and South Korea.
The expansion, which will mean total capacity will triple within three years, is in answer to the surge in demand for materials used in hybrid and electric vehicles, the company says.
A plant to make components for lithium-ion batteries is to be built in South Korea by Belgian company Umicore.
The high-tech recycler and specialist materials maker will double its capacity of the product as it expands into the market. The plant should be operational in 2014 to make parts for rechargeable batteries.