- The transaction includes the transfer of assets, employees, and contracts for seamless operations.
- Northvolt Systems Industrial employs 300 people in Stockholm and Gdańsk.
- The division serves industries like material handling, construction, and mining.
- Regulatory clearances and binding agreements are required for the transaction.
Transaction Overview
Northvolt has signed a Sale and Purchase Agreement with an unnamed leading industrial group to acquire its Systems Industrial division. This division specializes in developing and manufacturing battery systems for heavy industry and off-highway market segments. The transaction includes the transfer of all necessary assets, employees, and contracts to ensure seamless operations.
Operational Details
Established in 2018, Northvolt Systems Industrial employs approximately 300 people across its prototyping facility in Stockholm, Sweden, and its production facility in Gdańsk, Poland. The division offers a range of battery modules and systems to industries such as material handling, construction equipment, mining, agriculture, and municipal services. It has been actively delivering products from its Gdańsk facility to clients like Epiroc, Konecranes, and Dynell.
Strategic Focus
This transaction is part of Northvolt's strategic review to concentrate on its core business of large-scale cell manufacturing. The decision aligns with the company's long-term goals to establish a sustainable and stable platform for future success.
Regulatory and Future Steps
The completion of the transaction is contingent upon obtaining satisfactory regulatory clearances and executing binding agreements. Both Northvolt and the acquiring industrial group are committed to ensuring a smooth transition and continued growth for the Systems Industrial division.
