Paris, October 28th, 2012 – Industrials Equipments
After five months of talks with the company’s representatives to purchase Uniross Batteries SAS alongside Chinese industrial investors, Altamira has announced today its decision to withdraw from the acquisition process.
On October 11th, Altamira had submitted an offer for the purchase of the assets of UNIROSS SA and UNIROSS Batteries SAS. This offer had received on October 24th conditional acceptance by the company’s creditors and representatives under a liquidation procedure.
Following a comprehensive analysis of the company’s financial and commercial situation, Altamira has assessed that the conditions laid out couldn’t be met and, as a result, has decided to drop its bid.
Uniross is a wellknown brand in the industry, with a long tradition and expertise in rechargeable batteries. In 2007 it reached over €40M of sales. In ‘08 and ’09, after a difficult period, the company was purchased by Eveready Industries India Ltd. In 2012, it filed for liquidation.