Manz AG acquires Kemet unit

With the consent of the Italian trades union and the supervisory bodies of both companies, Manz AG and KEMET have agreed on the acquisition of the engineering division in the Batteries segment as part of an asset deal. This gives Manz access to patents and property rights as well as the expertise of Arcotronics, which was acquired by KEMET in 2007. Arcotronics is a battery manufacture with long-standing business relationships with the battery producers worldwide. As a result of the deal, 83 employees will be transferred to Manz AG. At the same time, the acquisition enables Manz AG to add expertise in winding technology to its portfolio in the Battery division. As a fully consolidated company in the Group, the subsidiary is expected to contribute around EUR 15 million to Manz AG's annual revenues with positive effect on net profit in the current 2014 fiscal year. The acquisition is being financed by funds from the capital increase, which was successfully carried out in November 2013. The parties have agreed not to disclose the purchase price. "The acquisition enables us to continue to intensify our commitment to the future markets of e-mobility, stationary energy storage and consumer electronics", Dieter Manz, CEO and founder of Manz AG, summarizes. "We are currently observing globally increasing market growth in these areas, which will continue to intensify over the next few years. The successful addition to our technology portfolio in the Battery division now puts us in an excellent position to benefit from these opportunities and to further strengthen our market position as the leading high-tech engineering company in the western world."