Technoform S.A. acquires Netelco’s production of metal cases

High added value agreement for northern Greece

Technoform S.A., subsidiary of Sunlight Group Energy Storage Systems announces the acquisition of the Netelco S.A. business unit that involves the production and sales of metal cases, per relevant agreement signed on 17 October 2022. Netelco is a Greek company, located in Xanthi. It was founded in 2000 and carries 22 years of experience in the manufacturing of metal cases for energy storage, suitable for industrial applications.  

Commenting on the agreement, CEO of Sunlight Group, Lampros Bisalas, stated: “We’re very pleased to see that under a year from its acquisition, Technoform is already proceeding with the implementation of its investment plan, aiming to expand its product portfolio and customer base in Greece and abroad. Technoform’s investment plan exceeds €100m and is centered around the industrial facility of Kilkis. Our vision for Technoform is to continue growing autonomously and creating value for itself and the local economy, with the support of Sunlight Group. Technoform will cover part of our needs in metal cases for lead-acid batteries, mainly supplying our industrial complex in Xanthi. At the same time, Sunlight will continue its ongoing partnerships with other suppliers abroad for our facilities in Verona and North Carolina. Regarding lithium batteries, the goal is for Technoform to cover 80% of our future needs in metal cases and components, significantly contributing to the vertically integrated production of this critical segment for our company”.   

Chairman of Technoform, Georgios Dokouzgiannis, stressed the importance of the agreement: “This acquisition will give Technoform a very significant boost, as from now on the company’s activities will expand beyond the design and manufacturing of high-tech molds and components. It will also include the production and sales of metal cases for industrial batteries, for both lead-acid and lithium-ion technology. We are ready to welcome the Netelco team to the Technoform family and create together a model company in northern Greece. A local business with an international footprint, offering solutions that will meet global industrial needs.”  

On his part, CEO of Netelco S.A., Polychronis Papadopoulos, noted: “Twenty years in the business of manufacturing metal cases for industrial batteries, we had to manage many challenges but also gained significant experiences. With the vision to support and advance local industry, and in collaboration with Sunlight, my father started the business of manufacturing cases back in 2000. And progress in the sector has been great over the years. A significant aspect of the whole endeavor has always been to further develop the business and secure jobs for the local community. The contribution of Sunlight Group during all this time has been extremely important. We are thrilled to complete today the sale of this particular business unit to the rapidly growing Technoform, a company connected to the Sunlight Group. Hence, the efforts and experiences gathered all these years become part of a great Group of companies, ensuring both continuity and further growth. Netelco S.A. will continue its other activities dynamically and with the same passion for metal business.”