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Maxwell completes acquisition of Swiss capacitor maker

Posted: 10 Jul 2002 ?? ?Print Version ?Bookmark and Share

Keywords:Montena Components? ultracapacitor? automotive?

Maxwell Technologies Inc. has completed its acquisition of Montena Components Ltd, a Swiss manufacturer of ultracapacitors, high-voltage capacitors and high-speed capacitor and battery winding equipment, for about 2.55 million shares of Maxwell common stock.

Carl Eibl, Maxwell's CEO, said, "The acquisition of Montena Components enhances Maxwell's ultracapacitor product development and production capabilities and gives the combined company a strong foothold in the European rail, industrial and automotive markets."

Jose Cortes, chairman of Montena SA, which agreed in June to sell Montena Components to Maxwell, stated that both companies' OEM customers' requirements for multi-location production and local sourcing and support were a major factor in the decision to combine."

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