EnerSys Announces Agreement to Acquire Quallion LLC

EnerSys Announces Agreement toEnerSys Announces Agreement to Acquire Quallion LLC PR Newswire READING, Pennsylvania, Oct. 28, 2013 EnerSys (NYSE: ENS), the global leader in stored energy solutions for industrial applications, today announced that it has entered into an agreement to acquire Quallion LLC, a manufacturer of lithium ion cells and batteries for high integrity applications for $30 million. Headquartered in Sylmar, CA, Quallion's products include lithium ion cells and batteries for diverse applications including medical devices, defense, aviation and space. The closing of the transaction is subject to customary closing conditions. "This acquisition provides EnerSys with an entry into the rapidly growing medical device battery markets for both implantable and external devices," said John D. Craig, chairman, president and chief executive officer of EnerSys. "With the United States government's Title III investment of $65 million in Quallion's cathode and anode production equipment, we will have the capability to produce lithium ion materials and for satellite batteries. In addition to being the only domestic battery manufacturer to control the complete production process, by combining Quallion with our ABSL space business, EnerSys becomes the largest domestic provider of battery technology to the space industry.