DGAP-News: VARTA AG
/ Key word(s): Miscellaneous
Ellwangen, 16 January, 2020
VARTA AG increases production capacity for lithium-ion batteries to 200 million cells
The VARTA AG Group, technology and innovation leader in rechargeable lithium-ion cells for high-tech consumer products, notably for true wireless headsets, continues to grow at great speed. This is driven by sustained high customer demand for lithium-ion batteries in a market experiencing annual growth of around 30 percent.
The next step in innovation is also just around the corner: later this year VARTA AG will present a lithium-ion cell that offers a 15 per cent higher energy density combined with improved cycle stability. In this way, the company continues to set the industry standard with its innovations and cements its leadership in technology.
Herbert Schein, CEO of VARTA AG, says: "Our future clearly lies especially in the field of lithium-ion technology. Here, as an innovation leader, we set the industry standards. This has allowed us to gain unique competitive advantages, which we safeguard through patents and rapid advances in innovation. With the accelerated expansion of our production capacities announced today, we are not only continuing to build on our strong market position, but are also creating further 600 new jobs in our region."
Strong cash flow enables major investments
Chief Financial Officer (CFO) Steffen Munz adds: "We continue to record extremely high order volumes. Our very healthy balance sheet allows us to continue investing heavily, and our solid and rising cash flow will also play its part."
With its high level of investment in the further expansion of production capacity for lithium-ion batteries, the VARTA AG Group will create around 600 additional jobs in this area.
About VARTA AG
VARTA AG produces and markets a comprehensive battery portfolio, ranging from microbatteries, household batteries, energy storage systems to customer-specific battery solutions for a wide range of applications, and, as a technology leader, sets industry standards in key areas. As the parent company of the Group, it operates in the business segments "Microbatteries & Solutions" and "Household Batteries".
16.01.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||954555|
|End of News||DGAP News Service|