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.
Piombifera, established in 1978, is one of the three biggest companies for batteries recycling in Italy, Monbat said.
Under the terms of the deal, Piombifera’s recycling plant in Brescia, which has a capacity to process 70,000 tonnes annually, will become part of the newly-established Monbat Italy SpA.
The acquisition of new recycling facilities is part of the group’s “strategy for growth through geographic diversification of capacities”, Monbat said.
The move is the latest purchase by Sofia-based Monbat since it moved into the lithium-ion business with the acquisition of German peers Gaia Akkumulatorenwerke and EAS Germany in the summer.
