09/29/2020 09:30:00 CEST LOI from TE Connectivity for production line for automated assembly of cell contacting systems proves successful cooperation in past projects | Final contract award expected in the fourth quarter of 2020 | Order in the lower double-digit million-euro range will affect revenue and earnings in 2020 and 2021
Manz AG, a global high-tech engineering company with a comprehensive technology portfolio, has signed a letter of intent (LOI) with the automotive supplier TE Connectivity for a follow-up order in the lower double-digit million-euro range. TE had already ordered the first fully integrated production line for the automated assembly of cell contacting systems in 2018 and now plans to further expand the successful cooperation. The final contract award is expected in the fourth quarter of 2020. Most of the order will be recognized in revenue and earnings in fiscal year 2021.
Cell contacting systems are a central component of the e-power train of electric cars and plug-in hybrids: They connect individual battery cells to form battery modules, take care of current collection and various sensor functions for battery management, such as temperature and voltage measurement. Depending on their size and capacity, several battery modules are integrated and interconnected in a battery-powered electric car – each module has its own cell contacting system.