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C&D to purchase Matsushita battery production assets

Posted: 12 Sep 2003 ?? ?Print Version ?Bookmark and Share

Keywords:c&d technologies? matsushita? lead acid battery? north america?

C&D Technologies Inc., a North American producer and marketer of electrical power storage and conversion products used in telecommunications and industrial applications, has signed an agreement to purchase certain assets of Matsushita Battery Ind. Corp. of America and Matsushita Battery Ind. de Mexico S.A. de C.V. for manufacturing certain industrial lead-acid stationary batteries in North America.

The acquired assets include a 240,000 square-foot facility in Reynosa, Mexico and the equipment in the facility used for the manufacture of valve regulated lead-acid batteries for standby power applications. In addition, C&D has entered into a worldwide technology license agreement with Matsushita Battery Industrial Co. Ltd. of Japan for selected patents and know-how relating to the above manufacturing technology.

In connection with the transaction, C&D anticipates transition of some Matsushita customers to C&D during Q4 of this year.

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