Newsletter #435 (View other news stories)
EnerSys acquires Accu Holding
Reading, PA, United States
Monday, 2 Nov 2009
When John D. Craig looks back at 2009, he’ll remember it as a year of opportunity rather than economic slowdown. He’ll remember the last quarter, in particular, as the time his company, EnerSys, grew its global presence in the industrial battery market with the purchase of the industrial battery businesses of the Swiss company Accu Holding AG.
In the transaction, still subject to approval by the general assembly of Accu Holding, EnerSys will acquire the stock of OEB Traction Batteries Inc. and the operating assets and liabilities of Oerlikon Stationary Batteries Inc., along with its Swedish sales subsidiary. The companies, which operate under the name Oerlikon Battery, have combined revenues in excess of USD50 million per year.
"We view the difficult economic environment as an opportunity for us to acquire good companies, with quality products and experienced people to help us extend our market leadership in industrial energy storage," commented Craig, chairman, president and chief executive officer of EnerSys.
All employees of these entities, as well as some Accu Holding employees, will be transferred to EnerSys. EnerSys is considering strategic options for Oerlikon Battery's factories in Switzerland, subject to appropriate consultation with the officials and employees concerned. One option is to transfer Oerlikon Battery's high quality designs to other EnerSys European factories. Concurrent with this acquisition, EnerSys is planning to establish a European product development and application centre in the Greater Basel area in Switzerland—serving both Oerlikon Battery and EnerSys customers.
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