March 31 (SeeNews) - South Africa-based energy storage products manufacturer Metair Investments has suspended operations at its Rombat battery plant in Romania due to the coronavirus pandemic, it said.
Metair has also closed Möll factory in Germany and all of its locations in South Africa, it said in a statement filed with the Johannesburg Stock Exchange on Monday.
The company's Mutlu Akü factory in Turkey remains operational at half of its capacity, with strict social distancing between employees.
Metair's Dynamic plant in UK is operating remotely, ensuring essential service supplies only, while its ABM factory in Kenya will remain operational, also with strict social distancing.
The extent and duration of the measures will be reviewed on a continuous basis, the company said.
"The Company has sufficient liquidity and facilities to operate and has confirmed all existing banking facilities. To ensure its sustainability it is continuously evaluating all available support and contingency measures," Metair said.
In February 2018, Johannesburg-headquartered Metair acquired 35% of Romanian company Primemotors through its wholly owned subsidiary, Rombat, in order to speed up production of lithium-ion batteries on the European market. The deal was worth 1 million euro ($1.1 million).
Metair bought Romania's largest automotive lead-acid battery manufacturer Rombat for 43 million euro in 2012.
Metair is a publicly-owned company listed on the Johannesburg Stock Exchange. The group manages an international portfolio of companies that manufacture, distribute and retail products for energy storage and automotive components.
($= 0.9115 euro)