07/07/2020 07:30:00 CEST Follow-up order for Manz in the Energy Storage segment demonstrates high level of customer confidence | Volume in the mid double-digit million euro range is spread over the years 2020 and 2021 | Order underlines the great growth potential in the consumer electronics sector
Manz AG, a global high-tech engineering company with an extensive technology portfolio, is expanding its successful partnership with one of the world's leading battery manufacturers in the Energy Storage segment with a further major order in the mid double-digit million euro range. Half of the order volume will impact revenues and earnings in 2020 and half will accrue in 2021.
The follow-up order underlines the strong growth dynamics in the consumer electronics sector. As part of the new order, additional production lines will be installed at the customer's site and existing ones will be upgraded. The existing plant concept will be further optimized with the aim of significantly increasing production capacities and thus improving the overall productivity of cell manufacturing.
Manz AG's customers benefit from the many years of expertise of the Reutlingen-based high-tech engineering company. For over 30 years, Manz AG's Italian subsidiary has been a leader in production equipment for wound cells and micro-capacitors. This expertise gives Manz AG's clients a key competitive advantage, particularly in the fast-growing consumer electronics sector.
Martin Drasch, Manz AG's CEO, commented on the new orders: "Our engineers at the European locations work closely with our clients on continuous improvements. That is why we are pleased to receive this follow-up order, which confirms our customer's trust in the exclusive partnership in the development of wound lithium-ion battery cells for mobile devices. Once again it shows that, despite Covid-19, we are well on the way to achieving our ambitious growth targets in the Energy Storage segment for 2020."
