gilfort
10 µW
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Sud-Chemie AG of Munich to invest $78 million to build Quebec lithium plant
Mon Jul 12, 7:24 AM
By The Canadian Press
MUNICH - A German company says it will invest nearly $78 million in Quebec to produce lithium iron phosphate  a material used in batteries for electric cars.
The company is building a plant in Candiac, Que., that will produce high-grade lithium iron phosphate  also known as LFP.
Interest in the commercial possibilities of lithium has grown with the push to develop alternatives to gasoline-powered vehicles. A number of small mining companies have been exploring for lithium in Quebec.
The new Phostech Lithium plant announced Monday is expected to make enough LFP for about 50,000 all-electric automobiles per year  or 500,000 hybrid-electric vehicles.
Sud-Chemie AG of Munich, which generated euro1.07 billion (C$1.4 billion) in revenue last year, says it's investing euro60 million on the plant being built by its Canadian subsidiary Phostech Lithium.
The German company employed 6,500 people worldwide at the end of 2009 but didn't announce how many would be working on the Quebec project.
"With this investment, we are now significantly expanding our production capacity in this market of the future, which will allow us to meet the heavily increasing demand from our strategic customers in the automotive and battery industries," said Hans-Joachim Muller, a member of the managing board of Sud-Chemie AG
"Our outstanding patent situation, high-quality manufacturing process and our already strong LIFE Power product brand put us in an excellent position in the fast-growing market for battery materials."
Sud-Chemie AG of Munich to invest $78 million to build Quebec lithium plant
Mon Jul 12, 7:24 AM
By The Canadian Press
MUNICH - A German company says it will invest nearly $78 million in Quebec to produce lithium iron phosphate  a material used in batteries for electric cars.
The company is building a plant in Candiac, Que., that will produce high-grade lithium iron phosphate  also known as LFP.
Interest in the commercial possibilities of lithium has grown with the push to develop alternatives to gasoline-powered vehicles. A number of small mining companies have been exploring for lithium in Quebec.
The new Phostech Lithium plant announced Monday is expected to make enough LFP for about 50,000 all-electric automobiles per year  or 500,000 hybrid-electric vehicles.
Sud-Chemie AG of Munich, which generated euro1.07 billion (C$1.4 billion) in revenue last year, says it's investing euro60 million on the plant being built by its Canadian subsidiary Phostech Lithium.
The German company employed 6,500 people worldwide at the end of 2009 but didn't announce how many would be working on the Quebec project.
"With this investment, we are now significantly expanding our production capacity in this market of the future, which will allow us to meet the heavily increasing demand from our strategic customers in the automotive and battery industries," said Hans-Joachim Muller, a member of the managing board of Sud-Chemie AG
"Our outstanding patent situation, high-quality manufacturing process and our already strong LIFE Power product brand put us in an excellent position in the fast-growing market for battery materials."
