NEC Corp. Sells NEC Moli Energy to E-One Energy Technology

January 13, 2000 by Jeff Shepard

NEC Corp. (Tokyo) recently announced it would sell NEC Moli Energy Ltd. (Canada), the production center for its cylindrical batteries, to E-One Energy Technology Corp. (Taiwan).NEC, which currently has a 66.08 percent stake in the Canadian unit, will sell to E-One after buying out the stakes held by Mitsui & Co. Ltd. and Yuasa Corp. NEC claims it decided to sell the Canadian unit as it plans to have its own Japan-based battery business focus on making prismatic batteries.