EnerSys buys Malaysian battery firm
EnerSys has revealed that it has completed the acquisition of UTS Holdings Sdn. Bhd. headquartered in Kuala Lumpur, Malaysia. UTS and its subsidiaries Battery Power International Pte Ltd and IE Technologies Pte Ltd, based in Singapore, claim to have extensive experience in providing motive power and reserve power solutions within the Southeast Asian markets.
"This acquisition along with our recently announced investment in our India business continues to build on our strategy of geographic expansion into rapidly growing markets such as Asia," said John D. Craig, chair, president and CEO of EnerSys. "UTS is currently profitable. We anticipate that it will generate approximately $40 million in sales over the next 12 months and will be accretive to our Asia financial results."
"We look forward to welcoming the UTS organization to the EnerSys family and are excited to be able to provide our customers with a wider scope of products and services within the Southeast Asia region," commented Mark Tough, president of EnerSys Asia. "We are now able to provide within this region a total solution from design, implementation and a complete end to end solution for our customers."
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