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Brookfield upbeat on Power Solutions business

Mon, 02/25/2019 - 00:00 -- Hugh Finzel
Cyrus Madon

The new owners of Power Solutions— the batteries business sold last year by Johnson Controls— have told analysts they have “identified opportunities to further enhance the value of the company”.

Brookfield Business Partners, which together with fellow investment firm CDPQ announced a definitive agreement to buy Power Solutions last October, said the company “will continue to be a leading manufacturer of advanced batteries, supplying its global customer base”.

Brookfield CEO Cyrus Madon (pictured) said in a fourth-quarter 2018 update: “Power Solutions’ EBITA (earnings before interest, tax, and amortisation) has increased in all but one of the last 15 years. And that was during the credit crisis and it bounced back immediately in the following year.”

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