Toda America to Build US Manufacturing Plant to Support Lithium-ion Battery Cell Production

February 17, 2010 – Vol.14 No.48

Toda America to Build US Manufacturing Plant to Support Lithium-ion Battery Cell Production.

With a $35 million cost-shared grant from the US Department of Energy (DOE), under the Recovery Act - Electric Device Vehicle Battery and Component Manufacturing Initiative, Toda America plans to build its manufacturing plant of cathode materials for lithium-ion batteries in Battle Creek, Michigan.

The $35 million grant is one half of Toda America's total planned investment in the manufacturing plant of $70 million.

The plant will be expanded step by step until 2013, reaching its full manufacturing capacity of 4,000 tons of finished product per year. The total sales volume based on the full capacity operation at the facility will be around $130 million.

In parallel with the Award Contract with DOE, Toda America has been working with the State of Michigan and the City of Battle Creek to finalize various agreements and financial incentives for the manufacturing plant in Battle Creek based on the planned job creation and capital investment. The project is expected to add 50-60 direct new jobs, and up to a total 148 new jobs including 91 indirect jobs.

Toda Kogyo Corporation, the parent company Toda America, manufactures advanced materials like high-quality iron oxides, numerous other inorganic compounds and built-to-specification products including cathode materials key to the advancement of battery systems. (2/16/10)

Links:

Toda America
http://www.todaamerica.com

Disclaimer, Forward-Looking or Safe Harbor Statement on original press release: No