C&D Technologies Completes the Buy-Out of Shanghai JV Partner
Blue Bell, PA – July 30, 2012 – C&D Technologies, Inc. a leading global producer of complete, integrated standby power systems, today announced that the C&D Technologies Shanghai operations are now wholly owned by C&D Technologies.
Since inception, C&D Technologies-Shanghai was two-thirds owned by C&D Technologies and one-third owned by Shanghai Electric. In July 2012, C&D Technologies bought Shanghai Electric's one-third stake. "I want to thank Shanghai Electric for its strong partnership and commitment to manufacturing the highest quality, environmentally responsible, energy storage products. C&D's ownership is committed to building on the proud tradition of C&D Shanghai and providing advanced technology energy storage solutions for uninterruptable power supply (UPS), telecom and utility applications. Our innovative products will support and advance grid storage and renewable energy initiatives in China." commented David Treadwell, C&D Technologies Chairman.
C&D Technologies, Inc. provides solutions and services for the switchgear and control (Utility), telecommunications, and uninterruptible power supply (UPS applications). C&D Technologies' engineers, manufactures, sells and services fully integrated reserve power systems for regulating and monitoring power flow and providing backup power in the event of primary power loss until the primary source can be restored. C&D Technologies' unique ability to offer complete systems, designed and produced to high technical standards, sets it apart from its competition. C&D Technologies is headquartered in Blue Bell, PA. For more information about C&D Technologies, visit www.cdtechno.com.