Monday, September 24, 2012

EnerSys Completes Acquisition of Lithium-Ion Battery Joint Venture in Germany

EnerSys (NYSE: ENS), the global leader in stored energy solutions for industrial applications, announced today it has completed the acquisition of the minority interest of  EAS Germany GmbH previously owned by GAIA Akkumulatorenwerke GmbH ("GAIA"), a wholly owned subsidiary of Lithium Technology Corporation ("LTC"). EnerSys formed the joint venture with LTC as a minority partner in Nordhausen, Germany in August 2011 to produce large format lithium-ion battery cells.

EnerSys will continue the development and production of lithium-ion based solutions for space, naval, marine, renewable energy and specialty high power applications for EnerSys' customers. In addition, EnerSys will continue to supply LTC with select products for its transportation applications and customers.

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