A Bulgarian Battery producer took over 2 German battery companies
The group plans to invest over 5 million euros over the next two years in new modern equipment. Monbat extends its business abroad by buying two German companies. The group plans to invest over 5 million euros over the next two years in new modern equipment.
The company acquired 100% of the assets of Gaia Akkumulatorenwerke GmbH and EAS Germany GmbH and merged the two companies at EAS Batteries GmbH based in Nordhausen, Germany.
The Bulgarian company will capitalize the experience and expertise in the lithium-ion field in the two merged companies and will focus on expanding the production capacity and commercializing the newly developed cellular technology, the company said in a statement.
Monbat will modernize the buildings in Nordhausen, develop the whole business and further expand sales in Germany and neighboring countries. The group plans to invest over 5 million euros over the next two years in new modern equipment and to expand the team of the new company.
“Monbat provides us with financial stability and investment in state-of-the-art equipment that EAS needs in order to become more competitive by increasing product quality and production capacity.” The team at Nordhausen has more than twenty years of experience in wide-format lithium-ion cells Monbat has extensive market experience as well as experience in the mass production of high-quality lead-acid batteries.The combination of these skills is the ideal basis for implementing the business development plan. Godard for this new chance, and confidence in his abilities. We are highly motivated to make new investments into commercial success, “commented appointed Managing Director of EAS Batteries GmbH Michael Doytmayer.
“This acquisition marks Monbat’s entry into the German market and, at the same time, is a commitment to technology that has the potential to change the world,” said Monbat Attorney Chairman and Managing Director Atanas Bobokov.
“Over the past two years, we have analyzed many opportunities for further growth in our group, but the combination of the former Gaia and EAS companies is unique, just as the team’s expertise is unique.” Monbat will revive and merge these two companies into a complete business process — from technology, through production to sales — we will develop the business and develop new products of distinctive quality We will build advanced technologies that will enable us to produce these new products in large quantities for the benefit of all stakeholders EAS Batte Ries (EAS Batteries) will be a source of energy for Monbat and we all excited to start working, “said Bobokov.