Livent Corporation (NYSE: LTHM) is pleased to announce that it will host a groundbreaking ceremony on Wednesday, October 30, 2019, at its manufacturing plant in Bessemer City, North Carolina, for the construction of additional lithium hydroxide production facilities. The expansion project is expected to enable Livent to increase its production of lithium hydroxide by 5,000 metric tons per year. Lithium hydroxide is an essential component of the advanced lithium-ion batteries used in electric vehicles as well as in high performance industrial greases and other applications. Livent’s investment is expected to create up to 30 new high-quality, full-time jobs at its Bessemer City plant and up to 85 construction jobs. The project is expected to contribute $16 to $18 million of local economic value during the construction phase and start-up in late 2020.
“We are grateful for the continued support and collaboration of the local and state government in North Carolina for helping make this expansion possible. Livent is proud to invest in creating new jobs and economic activity in the U.S., and specifically in Bessemer City, which has been a valued partner to us for decades. Bessemer City is one of the cornerstones of Livent’s business and is becoming increasingly more important to many of our customers who want the flexibility of sourcing their lithium products from the Western hemisphere,” said Paul Graves, president and chief executive officer of Livent.
Livent currently has about 240 employees in Bessemer City and additional sales and operations personnel in Charlotte. Many local Livent employees will attend the by-invitation-only groundbreaking ceremony on Wednesday morning, joining municipal and state government leaders, plant managers and Livent corporate executives.
Barbara Fochtman, Livent’s global head of manufacturing and operations, commented, “Many of our Bessemer City employees are actively engaged in the community and are excited about the opportunities our expansion will provide. Since the 1950s, the site has been a key contributor to many of the engineering breakthroughs that underpin modern life. Livent is committed to ensuring that Bessemer City remains an important part of the global revolution in electric vehicles and lithium technology innovation.”
For more than six decades, Livent has partnered with its customers to safely and sustainably use lithium to power the world. Livent is one of only a small number of companies with the capability, reputation, and know-how to produce high-quality finished lithium compounds that are helping meet the growing demand for lithium. The company has one of the broadest product portfolios in the industry, powering demand for green energy, modern mobility, the mobile economy, and specialized innovations, including light alloys and lubricants. Livent employs approximately 800 people throughout the world and operates manufacturing sites in the United States, England, India, China and Argentina. For more information, visit livent.com.