Metair to sell its troubled Turkish operations, return its focus to auto parts

Energy storage and automotive component manufacturer Metair says it will sell its troubled Mutlu operations in Türkiye to Quexco for R1.95-billion in cash. Mutlu forms part of Metair's Energy Storage vertical.

The business manufactures and trades energy storage products, including lead-acid and lithium-ion batteries for use in mobility applications, as well as in the telecoms, utility, mining, retail and materials-handling sectors. Automotive batteries manufactured by Mutlu are supplied to vehicle manufacturers in Türkiye. Batteries are also sold into the automotive aftermarket through Metair's Energy Storage vertical's aftermarket distribution channels and franchised retail networks.

The value of Metair Türkiye's net assets was R2.9-billion, as at the end of last year, and the loss attributable to the business R70.6-million.

Quexco was founded in 1984. It..

. Irma Venter.