Addtech acquires Fey Elektronik GmbH
Addtech Electrification a business area in the Addtech Group, has today signed an agreement to acquire 90 % of the shares outstanding in Fey Elektronik GmbH. (“Fey”). Fey serves European OEM customers with development, design and manufacture of customized battery solutions. Fey has 160 employees and annual sales of around 55 MEUR. The current owner and Managing Director of Fey, Michael Witte, will remain as minority shareholder with 10 percent of the shares in the company. Fey will very effectively complement and strengthen the operations in the business unit Battery Systems, which