Since 1988, the European lead/acid battery industry has undergone exte
nsive restructuring through mergers and acquisitions. Such development
s have been commonly interpreted as a normal trend to optimize economi
es-of-scale in order to face increasing competition. Although this is
one of the reasons for the concentration process, other aspects should
be considered in order to understand and prepare the future of the ba
ttery industry. The automotive (SLI) and industrial battery sectors ha
ve different challenges and opportunities. Nevertheless, for the purpo
se of this study, the focus is essentially on the SLI business. Where
appropriate, extrapolation will be made to the industrial battery busi
ness. (C) 1997 Elsevier Science S.A.