Enersys2008-06-30 10:34:43
EnerSys Announces Tunisian Joint Venture
READING, Pa., June 26 /PRNewswire-FirstCall/ -- EnerSys (NYSE: ENS), the world's largest manufacturer, marketer and distributor of industrial batteries and Accumulateur Tunisie Assad SA (Assad), the market leader in automotive batteries in Tunisia and North Africa, announced today the formation of a new joint venture company for the production and sale of industrial batteries. The new company, EnerSys-Assad SARL, will be 51% owned by EnerSys and 49% by Assad.
John Craig, chairman, president and chief executive officer of EnerSys stated, This investment in Tunisia is a continuation of our stated strategies to increase our production in lower cost regions of the world and to expand our global market presence. Through this joint venture, EnerSys will gain additional access to the fast growing African markets.
Abdelwaheb Kallel, chairman of Assad stated, The new company will serve as a further extension of our progressive development of our energy storage business following our investments in capacity, technology and recycling in the past year. This joint venture brings together the experience, technology and capability of both companies to serve high growth markets.
Ray Kubis, president of EnerSys Europe commented, The joint venture will start production later this year in Tunis, focusing on high performance 12 volt products to increase our capacity for Motive and Reserve Power products. This will include batteries required for the growing market for solar power applications.
READING, Pa., June 26 /PRNewswire-FirstCall/ -- EnerSys (NYSE: ENS), the world's largest manufacturer, marketer and distributor of industrial batteries and Accumulateur Tunisie Assad SA (Assad), the market leader in automotive batteries in Tunisia and North Africa, announced today the formation of a new joint venture company for the production and sale of industrial batteries. The new company, EnerSys-Assad SARL, will be 51% owned by EnerSys and 49% by Assad.
John Craig, chairman, president and chief executive officer of EnerSys stated, This investment in Tunisia is a continuation of our stated strategies to increase our production in lower cost regions of the world and to expand our global market presence. Through this joint venture, EnerSys will gain additional access to the fast growing African markets.
Abdelwaheb Kallel, chairman of Assad stated, The new company will serve as a further extension of our progressive development of our energy storage business following our investments in capacity, technology and recycling in the past year. This joint venture brings together the experience, technology and capability of both companies to serve high growth markets.
Ray Kubis, president of EnerSys Europe commented, The joint venture will start production later this year in Tunis, focusing on high performance 12 volt products to increase our capacity for Motive and Reserve Power products. This will include batteries required for the growing market for solar power applications.
For more information contact:
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