The German battery manufacturer, VARTA, (turnover of EUR 1.2 bn in 2001 with 7,700 on the payroll) has sold its battery section off for EUR 262 million (turnover EUR 398 million in 2001 with 2,900 on the payroll) to its US competitor RAYOVAC, which subsequently becomes a world leader in the sector. RAYOVAC will gain 100% control of all VARTA subsidiaries in the battery sector outside of Germany. Even in Germany it will have a majority holding (51%) in a joint venture with VARTA.