Varta

The Federal Ministry for Economic Affairs approved the spin-off of the household-batteries division from the insolvent Varta Group. The new Varta Consumer Batteries will retain around 990 employees and plans further investments at the Dischingen production site. Main financiers supported the transfer into an independent holding; the company expects annual revenue growth of 3–4 percent through 2029 and is targeting growth mainly in Europe as well as in markets in South America, Asia and Canada. » Mere på t-online.de

The commercially successful consumer business of insolvent Varta will be continued as an independent company after approval by the German Ministry for Economic Affairs. The spin-off is intended to secure around 990 jobs; staff reductions are not planned. Creditors and the main financier support the transaction; the new company plans investments in Dischingen and expects annual revenue growth of three to four percent through 2029, primarily in Europe as well as parts of Asia and South America. » Mere på kurier.at

The household batteries division of the insolvent Varta Group will be spun off as an independent Varta Consumer Batteries GmbH & Co. KGaA. The separation was approved by the Federal Ministry for Economic Affairs and is intended to preserve around 990 jobs at the Dischingen site; staff reductions are not planned. Investments in the production site are planned; the new unit targets average sales growth of three to four percent through 2029 and is focusing on growth in Europe as well as expansion opportunities in South America, Asia and Canada. The spin-off was supported by the main creditors. » Mere på manager-magazin.de