February 20, 2025: Metair Investments has reported a 10% boost in sales from its remaining battery businesses after selling off its troubled Mutlu Akü Turkish lead acid firm last year.

Metair agreed to sell Mutlu Akü to lead mogul Howard Myers’ Quexco Incorporated business last September in a $110 million deal, as exclusively revealed by Batteries International.

Metair said in a trading update published on February 14 that the remaining units of its energy storage division — Romania-based Rombat and South Africa’s First National Battery — sold a combined 4.3 million mainly lead automotive batteries in fiscal 2024 compared to 3.9 million in the previous year.

The group signalled it still intended to sell off its entire energy storage division, saying it wanted its primary focus to become automotive component manufacturing and aftermarket automotive parts and services.

The uptick was the result of strong sales exports, with Rombat the stronger performer, the battery and automotive group said.

Improved manufacturing efficiencies and scrap recovery supported earnings at First National and EBIT margins of around 9%-11% are expected from sales of around 1.6 million batteries.

Rombat saw sales of nearly 3 million batteries, with an EBIT margin expected to be between 1.6%-2%, although the business faces pressure from competition with cheaper imports and exposure to OEMs.

Metair said it also wrote off around ZAR43 million ($2.4 million) from the impairment and disposal of a portion of Rombat’s lithium ion production capabilities.

Energy storage revenue overall is expected to increase by around 9% to ZAR 4.6 billion.

Full-year results are to be published around March 26.