The Bulgarian company Monbat significantly extends its horizons. After recently acquiring 100% of the shares of two German lithium-ion battery companies, the company is now targeting a company in Tunisia, which also deals with accumulators.
ASSAD Group was established in 1974. And by 2012. Has a capacity to produce 1.2 million batteries. It has two factories employing over 750 people. The production of the company is distributed in Germany, Algeria, Italy, France, Egypt, Saudi Arabia, Libya, Morocco, Iraq, Syria, Iran, Cote d'Ivoire and India.
Monbat AD commented that they had signed a letter of intent to buy the majority stake in the company's capital. The final acquisition decision will be taken after a thorough financial and legal review, which is expected to end in late November this year.