Ballard Closes Acquisition of Carbon Products Unit
Ballard Power Systems Inc. (Canada) announced that it has completed its acquisition of the carbon products business unit of Textron Systems (Wilmington, MA). The deal was closed for $12.8 million on May 25, 2001. The acquired business, now known as Ballard Material Products Inc., is a wholly owned subsidiary of Ballard Power Systems.
Ballard’s new business unit develops and manufactures a variety of carbon materials for automotive and fuel cell applications, including a gas diffusion layer for use in PEM fuel cells.