© manz Electronics Production | July 07, 2020
Manz AG receives further Battery order
Manz AG is expanding its successful partnership with an international battery manufacturers in the Energy Storage segment with a further major order in the mid double-digit million euro range.
Half of the order volume will impact revenues and earnings in 2020 and half will accrue in 2021. The follow-up order underlines the strong growth dynamics in the consumer electronics sector. As part of the new order, additional production lines will be installed at the customer's site and existing ones will be upgraded. The existing plant concept will be further optimised with the aim of significantly increasing production capacities and thus improving the overall productivity of cell manufacturing, a press release states. Martin Drasch, Manz AG's CEO, commented on the new orders: "Our engineers at the European locations work closely with our clients on continuous improvements. That is why we are pleased to receive this follow-up order, which confirms our customer's trust in the exclusive partnership in the development of wound lithium-ion battery cells for mobile devices. Once again it shows that, despite Covid-19, we are well on the way to achieving our ambitious growth targets in the Energy Storage segment for 2020."