2017-05-31 Is This a Thermal Fuse?

I have a bunch of these Ni-MH battery packs with 5 cells per pack for 6 volts. I want to use them to power 5 volt devices, so I remove one cell.  The metal straps are spot welded between cells, and the metal strip shown in the photo is between cells.  It has two strips of metal that overlap. with labeled heat shrink tube around both strips.  I am thinking this is a thermal fuse, to protect the cells from overheating.  But I can’t remember ever seeing one like this.  Any ideas?

  

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