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Greatbatch acquires Oregon battery manufacturer-Micro Power Electronics

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Greatbatch acquires Oregon battery manufacturer-Micro Power Electronics Empty Greatbatch acquires Oregon battery manufacturer-Micro Power Electronics

Post  Admin Thu Dec 15, 2011 12:13 am

Greatbatch Inc. has acquired an Oregon battery manufacturer in a $60 million deal expected to nearly double the size of its commercial battery business, the Clarence-based company said Tuesday.

The purchase of Micro Power Electronics will expand Greatbatch’s presence in the battery market for portable medical devices, as well as for military uses and handheld automatic identification and data collection products.

“This complementary acquisition will diversify Electrochem’s revenue base by expanding its presence in the portable medical market and stimulating growth in other key market sectors,” said Susan M. Bratton, senior vice president of Greatbatch’s commercial battery business.

The acquisition, which includes $60 million in cash and the assumption of an unspecified amount of debt, also should enhance Greatbatch’s research and product development efforts, she said.

Greatbatch said it will continue to operate Micro Power’s plant in Beaverton, Ore., which employs about 200.

The acquisition also will give Greatbatch’s commercial battery business, which is centered in suburban Boston, a presence on the West Coast.

Micro Power is expected to generate about $70 million in sales this year, while Electrochem had nearly $74 million in sales during the 12 months that ended in September.

The acquisition is not expected to have an impact on Greatbatch’s profits during 2011 and 2012, except for acquisition- related expenses. Greatbatch officials said they expect the deal to add to the company’s earnings beginning in 2013.

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