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East Penn takes on majority slice of Navitas

East Penn has acquired a majority interest in Navitas Systems, a provider of larger-format lithium battery technology and systems for heavy-duty commercial/industrial as well as government/defense market segments.

In a press release, Navitas said its products will complement East Penn’s offerings, and its lithium R&D experience will add to the company’s current lithium R&D program. The sale will also result in an expansion of East Penn’s Motive Power battery offering and integration into other market segments. East Penn CEO and President Chris Pruitt said, “East Penn and Navitas share corporate values of quality, research and development, and ethical integrity. Chairman and Founder, Alan ElShafei, has built a rich company culture at Navitas very similar to ours here at East Penn. Navitas also shares our passion for producing safe, high quality Lithium products.” Navitas Systems will continue to be run by their current management team, and both of their research and manufacturing facilities will remain in Ann Arbor, MI. East Penn is a privately-owned company in operation since 1946 and is touted as the largest single-site battery manufacturing facility in the world. The company employs 8,000 employees and has more than 450 product designs.
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November 12 2019 7:31 am V14.7.10-2