MORGAN STANLEY DEAN WITTER FORMS NEW FIRM OUT OF YUASA UNITS
READING, Pa.
Yuasa Inc., a provider of stored DC power products, systems and services, announces that Morgan Stanley Dean Witter Capital Partners has acquired its Motive Power and Stationary Power business units. To be renamed EnerSys Inc., effective Jan. 1, the company will continue to provide stored-energy solutions for industries such as telecommunications, the Internet, utilities, materials handling and uninterruptible power supplies (UPS). Worldwide revenues of the Motive and Stationary Power units, which employs more than 3,000 people, were $427.1 million for the 12 months ended Sept. 30, 2000.
“Together with Morgan Stanley Dean Witter Capital Partners, we can rapidly move forward to extend our legacy of stored DC energy systems innovation and expertise,” says John D. Craig, chairman, president and CEO of the new enterprise. “Our mission is to enhance our position as a world-class provider of fully integrated stored-power solutions.”
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