IHS Chemical Week

People & Business :: M&A

Hitachi Chemical to raise stake in CSB Battery, reports higher revenues

11:30 AM MDT | July 28, 2014 | Natasha Alperowicz

Hitachi Chemical (Tokyo) says it has signed a letter of intent with Chau-Hai Chen Group (Taipei) to raise its stake in CSB Battery (Taipei), a producer of lead-acid batteries, by 26%. Hitachi Chemical, through its wholly owned subsidiary Shin-Kobe Electric Machinery, already owns a 27.1% share in CSB Battery, and the acquisition will make the company a majority-owned subsidiary. CSB’s manufacturing activities are in China, Taiwan, Vietnam, and the Philippines. The acquisition, which will raise Hitachi Chemical’s stake in CSB to 53.1%, will help...

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