EnerSys to Launch a Joint Venture in South Africa
EnerSys (NYSE: ENS) 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.
