October 9, 2019 / 6:12 AM / a month ago

Deutz buys battery equipment maker in electrification push

DUESSELDORF (Reuters) - Germany’s Deutz (DEZG.DE) has bought Futavis GmbH, a maker of battery management systems, as part of a drive by the engine maker to expand its offering of electrified powertrain components, Chief Executive Frank Hiller told Reuters.

Deutz declined to comment on the purchase price for Futavis, which has around 30 employees and expects to generate revenue of around 5 million euros this year.

Deutz wants to expand its offering of components for use in electrified vehicles used in agriculture and construction, Hiller said.

Reporting by Tom Kaeckenhoff; Writing by Edward Taylor; Editing by Chris Reese

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