The board of Bulgarian lead-acid battery manufacturer Monbat has given the go-ahead for the firm to issue seven-year corporate bonds worth up to EUR30 million ($35.4m).
Monbat told Bulgaria’s Financial Supervision Commission that the decision, made on 10 October, will see the company issue up to 30,000 bonds with a nominal value of EUR1,000 each.
Bulgarian lead-acid battery manufacturer Monbat is to acquire Italian battery recycling company Piombifera Italiana for an undisclosed sum.
The acquisition, to be made through Monbat’s recycling subsidiary, was triggered by “the increased demand for raw materials for the production of lead batteries”, Monbat said in a statement to Bulgaria’s Financial Supervision Commission.
Bulgarian lead-acid battery manufacturer Monbat is considering taking a manufacturing license for a novel lithium-ion/supercap automotive starter battery designed by Olife.
Czech developer Olife is currently testing a 12V lithium iron phosphate/supercapacitor system designed to offer a reliable lead-free operation in freezing temperatures and necessary cranking current for automotive start-stop applications.
Bulgarian car battery producer MonBat is to sell its battery recycling plant in Serbia.
MonBat chairman Atanas Bobokov said the plant is not working due to lack of raw materials and, respectively, due to the political and competitive pressure under which the company was placed over the last several years, reports SeeNews.