Manz AG: Contract conclusion for follow-up order for assembly line in the field of electromobility
11/17/2020 10:00:00 CET, Reutlingen Automotive supplier TE Connectivity orders machines for automated assembly of cell contacting systems | Order volume in the lower double-digit million-euro range will affect revenues and earnings in 2020 and 2021 | Follow-up order confirms high customer confidence in the field of cell contacting systems
Manz AG, a global high-tech engineering company with an extensive technology portfolio, has received an order from automotive supplier TE Connectivity with a total volume in the lower double-digit million-euro range. Both companies had already signed a Letter of Intent in this regard at the end of September. After TE Connectivity ordered the first fully integrated assembly line for the automated production of cell contacting systems in 2018, Manz is now continuing its successful cooperation by supplying a second assembly line. The order in the Electronics segment will affect revenues and earnings already in 2020, but mainly in 2021.
Cell contacting systems are a central component of the electric powertrain of e-cars and plug-in hybrids: Depending on size and capacity, several battery modules are integrated and interconnected in every battery-powered e-car. Each of these modules has its own cell contacting system that connects individual battery cells to modules and takes care of power consumption as well as various sensor functions for battery management, such as measuring temperature and voltage.
Martin Drasch, CEO of Manz AG, comments: “We are pleased to have successfully concluded negotiations with TE Connectivity and to be able to set up an additional cell contacting system production line with the client. This order is one of a series of positive developments in the field of electromobility, from which we are benefiting in our Electronics and Energy Storage segments. Thanks to our decades of experience in assembly automation and battery production, we are very well positioned for further growth in the wake of the global mobility revolution. This is also shown by the numerous incoming orders in recent months. We also expect significant growth impulses from the imminent awarding of the European Commission's large-scale funding projects for the further development of Li-ion battery technology as part of the Important Projects of Common European Interest (IPCEI).”Back to overview