Under the terms of the deal, Manz will have access to patents and propertz rights as well as Arcotronics, which Kemet acquired in 2007. Arcotronics specialises in battery manufacture. Once consolidated into the group, Kemet is expected to contribute 15m to Manz’s annual revenue over the remainder of 2014.
Dieter Manz, CEO and founder of Manz, said, "The acquisition enables us to continue to intensify our commitment to the future markets of e-mobility, stationary energy storage and consumer electronics. 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."
The acquisition of Hemet continues a run of good news for Manz. Last week, it released its annual financial statement which revealed that the company had increased its revenues by 44.6% to 266.2 million despite the general decline across its industry.
83 employees will be transferred to Manz as part of the deal. The acquisition is being financed by funds from the capital increase carried out in November last year.