SOFIA (Bulgaria), January 19 (SeeNews) - Bulgarian battery manufacturer Monbat [BUL:MONB] said that it has signed a partnership agreement with UK-based power infrastructure company Alpha House.
Under the terms of the partnership, Alpha House shall operate as Monbat’s exclusive manufacturing partner, service provider and distributor in the UK, Monbat said in a press release on Tuesday.
The partnership is expected to facilitate the expansion of Monbat's products and services to existing and future customers as well as emerging markets within the UK and Ireland.
Monbat is supplying batteries to customers in over 70 countries worldwide. Alpha House is specialised in providing consultative intelligent power solutions across multiple market and industry sectors in the UK and Ireland.
Monbat's consolidated pre-tax profit from ongoing operations rose by 69% year-on-year in the first eleven months of 2021, reaching 23 million levs. Consolidated net sales revenue went up 21% year-on-year to some 336.6 million levs in the review period.
Shares in Monbat closed unchanged at 5.85 levs ($3.40/2.99 euro) on the stock exchange in Sofia on Tuesday, bourse data showed.
(1 euro = 1.95583 levs)