EnerSys Finalizes Invensys Energy Storage AcquisitionMarch 25, 2002 by Jeff Shepard
EnerSys Inc. (Reading, PA) finalized its acquisition of the energy storage products group of Invensys plc (Chippenham, England). EnerSys, along with the newly acquired energy storage products group, provides advanced stored energy solutions to markets such as utilities, uninterruptible power supplies, telecommunications, data communications, internet and materials handling.
John Craig, chairman, president and CEO of EnerSys, said, "This acquisition significantly enhances the strategic positioning and scale of EnerSys as we are now the world’s largest provider of stored energy solutions. We are very excited about our new company and are pleased to report that since the signing of our definitive agreement, many existing and potential customers have contacted us to begin discussions on how EnerSys can further serve their needs. It is also very reassuring that even with the many concerns surrounding the current economy that our financial backers still recognize the inherent value of this acquisition."
The company will employ approximately 7,000 employees at multiple manufacturing locations globally, with offices in over 27 countries. The organization will continue to operate as EnerSys Inc., with its worldwide headquarters in Reading, PA, and divisional headquarters in Europe and Asia.