EnerSys to Launch a Joint Venture in South Africa

EnerSys, the global leader in stored energy solutions for industrial applications, announced today that it has entered into a definitive agreement to launch a joint venture in South Africa to produce and market batteries for industrial applications. EnerSys will have majority ownership in the joint venture in cooperation with Powertech Batteries, which is a part of Allied Electronics Corporation Limited (Altron). The joint venture will include Powertech Batteries contribution of its existing industrial lead-acid business including its industrial battery manufacturing facility located in Port Elizabeth, South Africa, plus its existing distribution and service capability. The joint venture will serve both reserve power and motive power customers across sub-Saharan Africa, including South Africa. The transaction will be effective on October 3, 2011. "This investment serves as a continuation of our strategy to expand geographically to meet the needs of customers in the region and to better serve our global customers," said John D. Craig, chairman, president and chief executive officer of EnerSys. "We believe that this will allow us to serve the rapidly growing sub-Saharan African telecom, mining, energy and logistics markets."

Source: EnerSys
Date: Sep 29, 2011