Midtronics Inc. announced the sale of its Stationary Power Division to Franklin Electric Co., Inc.
“The divestiture of the Stationary Power Division enables us to focus on strategic innovation and solutions development in the rapidly changing transportation marketplace,” said Steve McShane, Midtronics President and CEO. “Going forward, we will devote our resources to grow our business in electric and hybrid vehicles, connectivity, data analytics and autonomous vehicles, as well as new battery technologies and applications.”
The Stationary Power Division will be combined with Franklin Electric Grid Solutions. Stationary Power Division customers will continue to use the same contact information for product service and support.
“We are proud of the accomplishments and growth of our Stationary Power Division,” said McShane. “Its portfolio of critical power solutions aligns well with Franklin Electric offerings. We thank our customers and wish our former Midtronics team members continued success as they develop and expand products to serve stationary power markets around the world.”
