Metair’s focus on ‘maximizing’ battery firms’ value

Metair’s focus on ‘maximizing’ battery firms’ value

Metair’s focus on ‘maximizing’ battery firms’ value 600 600 Batteries International

March 2, 2023: South Africa-based Metair Investments is putting plans to sell off its international batteries division on the back burner and focusing on further increasing the value of the business, BESB can reveal.

The lead and lithium batteries and auto components group, whose businesses include Romania’s Rombat, Mutlu Akü in Turkey and South Africa’s First National Battery, had aimed to sell off the division by the end of last year.

However, Metair failed to get suitable bids, noting in a ‘voluntary operational update’ report to the Johannesburg Stock Exchange on December 5 that the failure to secure a sale so far was “largely due to the geopolitical climate within Eastern Europe”.

A Metair spokesperson said on February 27 said the board will now review options for a sell-off when the geopolitical climate (essentially the impact of Russia’s war with Ukraine) improves.

Meanwhile, Metair intends to focus on “maximizing the value potential” of its batteries division, the spokesperson said — highlighting plans, reported by Batteries International on February 23, to install a new lead battery production line at Rombat’s plant in Romania as part of a €10 million ($10.6 million) investment.