Komatsu to acquire American Battery Solutions.

Komatsu, a manufacturer of construction, mining, forestry and industrial heavy equipment, agreed to acquire American Battery Solutions, a leader in the design, development and manufacturing of advanced lithium-ion batteries. Financial terms were not disclosed. "We are excited to join the Komatsu family with its global presence. This partnership will position ABS as a leading partner for electrification of industrial equipment and commercial vehicles globally. We are thankful for the support of our initial investors, KCK Group, and are pleased to enable a successful exit after only 4 ½ years. Komatsu's acquisition of ABS is testament to the intellectual and manufacturing assets ABS has developed in the span of four years," Subhash Dhar, ABS Founder and CEO.