BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - The FUCHS Group (FUPEF.PK) announced it has taken over 28 percent of the shares in E-Lyte Innovations GmbH, a company which develops and produces liquid electrolytes for high-performance batteries in the industrial and automotive sectors. The new investment grants FUCHS access to the fast-growing market for electrolytes. The company noted that the share purchase agreement opens up the possibility of acquiring further shares on a step-by-step basis over time.
The required production infrastructure will be established jointly at the FUCHS location in Kaiserslautern, Germany. Production is scheduled to begin in the summer of 2023.
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