Battery maker EnerSys to close plant in Bulgaria

EnerSys, an industrial battery maker based in Bern Township, Berks County, is closing a plant in Bulgaria that makes batteries for submarines, according to a regulatory filing.

The plant’s closure, expected to take place this year, affects roughly 80 employees, according to the filing with the U.S. Securities and Exchange Commission

The company’s board approved the plant’s closure on March 5. It is in Targovishte, Bulgaria and focuses on diesel-electric batteries for submarines.

“Management determined that future demand for batteries of diesel-electric submarines was not sufficient given the existing number of competitors in the market,” EnerSys said in its filing. The company said it plans to sell or transfer the plant and the equipment, if possible.

The company said in the SEC filing it would record a pre-tax charge of $32 million, mostly in the fourth quarter of 2019, as a result.

EnerSys posted sales of $680 million for the quarter ending Dec. 30, up from $658.9 million for the same period a year earlier.

The company recorded net income of $48.6 million for the quarter ending Dec. 30, up from a loss of $25.8 million for the year-ago period.

EnerSys produces a range of batteries for industrial use at its headquarters in Bern Township and in 31 factories around the world, according to LVB records.

Efforts to reach the company were not immediately successful.

LVB Business Events

2019 Health Care Symposium

Thursday, August 01, 2019
2019 Health Care Symposium

2019 CFO of the Year Awards

Wednesday, September 11, 2019
2019 CFO of the Year Awards

HR Symposium

Wednesday, September 25, 2019
HR Symposium

2019 Fastest Growing Companies Awards

Wednesday, October 23, 2019
2019 Fastest Growing Companies Awards