Enersys ventures into German market
Enersys has completed its acquisition of EAS Germany.
Stored energy solutions provider Enersys has made further inroads into the European market by completing the acquisition of EAS Germany.
In securing the minority stake in the lithium-ion battery producer, Enersys will be able to continue its work with joint-venture partner Lithium Technology Corporation (LTC) in developing large format lithium-ion battery cells.
The completion of the acquisition will allow EnerSys to continue its operations in developing and producing lithium-ion based solutions for the marine, space, naval and renewable energy sectors, as it continues its working relationship with LTC that has been in place since August 2011
In a transaction that may interest merger and acquisition consultants, the move will also see Enersys provide LTC with a selection of its products for use in transportation applications.
Enersys is the world's leading provider of storage energy solutions for industrial applications. Creating products for the aerospace, telecoms and utility sectors, among others, the firm owns the DataSafe, Varta and Genesis brands.
Posted by Edel Quinn
Source: EnerSys press release, August 13th