Metair gets offers for its battery business

  • 📰 BDliveSA
  • ⏱ Reading Time:
  • 50 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 23%
  • Publisher: 63%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

The company, which will talk to shareholders about the offers, says there is particular interest in Mutlu Akü in Turkey

The electric vehicles produced as in-house projects by the Metair Group. Picture: SUPPLIED

Metair, the manufacturer, distributor and retailer of energy storage solutions and automotive components, said on Wednesday that it has received unsolicited offers for its battery business. The company will be engaging with shareholders over the offers, having concluded that its two businesses, the automotive components and energy storage units, “are in two different strategic positions and that a managed separation of the two will unlock value for stakeholders”.

The company’s energy storage business includes First National Battery in SA and Mutlu Akü in Turkey, which both produce lead acid batteries.Metair said on Wednesday that Rombat and Prime Batteries had successfully completed the installation of the group’s first lithium-ion battery cell manufacturing and assembly facility in Bucharest, Romania.

The facility has a production capacity of up to 1-million cells a year, and production was expected to begin in the second quarter of 2020, Metair said.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in MY
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Key shareholders agree in principle about Delta and Rebosis mergerTwo black-owned real estate companies will create a business with R29bn in assets
Source: BDliveSA - 🏆 12. / 63 Read more »

Key shareholders agree in principle about Delta and Rebosis mergerTwo black-owned real estate companies will create a business with R29bn in assets At least one dud
Source: BDliveSA - 🏆 12. / 63 Read more »