Saft receives firm commitment to acquire its Small Nickel Battery business in Nersac, France
PR Newswire/Les Echos/
Saft receives firm commitment to acquire
its Small Nickel Battery business in Nersac, France
Paris, January 11th , 2013 - Saft, the world leader in the design and manufacture of advanced technology batteries for industry announces that it received at the end of 2012 a firm offer from Fin'Active, a French investment company to acquire its Small Nickel Battery (SNB) business based in Nersac, France.
Saft has given exclusivity to Fin'Active and has begun the consultation process with the workers council.
Once this process is finalised, Fin'Active will acquire the Small Nickel Battery business and its entire workforce of around 340 people. Fin'Active supports the strategy proposed by SNB's management which includes Saft providing electrodes to the new company for the coming years.
The price proposed for the transaction would lead Saft to record a loss on disposal of approximately 10 million euros. The impact on the Group's cash position would be limited to a few million euros, representing the working capital needs of the divested business
"I am delighted to receive this firm offer and I am confident Fin'Active has the motivation to support and develop the SNB activity in Nersac for the years ahead." said John Searle, Chairman of Management Board, Saft Groupe.
About Saft Saft (Euronext: Saft) is a world leader in the design and manufacture of advanced technology batteries for industry. The Group is the world's leading manufacturer of nickel batteries and primary lithium batteries for the industrial infrastructure and processes, transportation, civil and military electronics markets. Saft is the world leader in space and defence batteries with its Li-ion technologies which are also being deployed in the energy storage, transportation and telecommunication markets. Saft's 4,000 employees present in 19 countries, its 16 manufacturing sites and extensive sales network all contribute to accelerating the Group's growth for the future. For more information, visit Saft at www.saftbatteries.com
About Fin'Active Fin'Active (www.finactive.fr) is a consulting and investment company, taking direct and indirect majority stake -holding positions in indus trial or service companies, which are undergoing or require significant change. Fin'Active has a strong interest in businesses related to metal and energy and is majority shareholder of Grolleau, a company specialized in the design and production of telecommunications, electrical and industrial cabinets, and has founded Sun'Active to promote renewable energies and which finances and operates several photovoltaic installations in France. Fin'Active believes that the storage of energy between the phase of production and consumption will become an increasingly important topic.
Jill Ledger, Saft, Directrice de la Communication et des Relations Institutionnelles Tél. : +33 1 49 93 17 77, e-mail : email@example.com
N° 02-13 www.saftbatteries.com
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