Alcatel to sell its SAFT batteries subsidiary to Doughty Hanson

Alcatel has signed an agreement with Doughty Hanson to divest SAFT, a subsidiary of Alcatel specialized in batteries, for 390 million euros. Doughty Hanson is a European, independent private equity firm, focused on acquiring and growing industrial companies.

This acquisition complements Doughty Hanson's portfolio of industrial companies. Since its creation in 1985, Doughty Hanson has invested in more than 60 ventures for more than 17.5 billion euros. SAFT, a leading manufacturer of industrial and specialty batteries, employs approximately 4 000 people at 14 sites in 8 countries. SAFT revenues in 2002 were 550 million euros.

This divestment should be finalized within 3 months and is presented today to the Workers' Council. It will be submitted for regulatory approval in the appropriate countries and will be subject to prior approval concerning foreign investments in France. For Alcatel, this agreement is an additional step in focusing on its core business, the development and deployment of telecommunications systems and services. According to Jean-Pascal Beaufret, CFO of Alcatel, "The backing of a financial buyer will allow SAFT greater financial flexibility to strongly support its development."

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Author Notes:

Sandra Ade contributes and publishes news editorial to http://www.1st-in-batteries.com. A great resource for batteries of all kinds including camcorder, laptop, cell phone and more.

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Alcatel to sell its SAFT batteries subsidiary to Doughty Hanson