February 24, 2015 11:56
Samsung SDI said Monday it has acquired the battery pack unit of Austrian auto parts supplier Magna Steyr.
The deal, whose value was not disclosed, was worth an estimated W100 billion (US$1=W1,110).
Magna Steyr supplies car batteries to Audi, BMW and Mercedes-Benz.
A Samsung SDI spokesman said the company hopes to become the world's top car battery manufacturer with the acquisition, which will bolster its cell and modular battery capabilities.
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