PMB Defence has announced that it has completed the acquisition of selected plant, machinery, tooling, stock, and Intellectual Property related to the submarine battery business of the EnerSys group of companies.
PMB Defence says it will now use its new production, research and development and engineering facilities situated adjacent to the Osborne Naval Shipyard in Adelaide to manufacture battery systems for several foreign military customers.
"This acquisition will further transform PMB from one historically focussed on a single market to a company with multi geographical customers and the capability to supply battery systems to various submarine classes around the world," the company said in a statement. "Over the medium term we expect that production volumes will more than double as a result of this acquisition."
“The acquisition further supports our strategic intention to be the world’s most credible designer and supplier of submarine battery systems," PMB Defence’ Chief Executive Officer, Stephen Faulkner said.