Business Daily from THE HINDU group of publications
Saturday, Jul 22, 2006
Business Daily from THE HINDU group of publications Saturday, Jul 22, 2006 |
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Corporate
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Overseas Investments Exide looks for acquisition prospects in Germany Our Bureau
Better opportunities Many German battery makers have run into rough weather The acquisition, if comes through, will cater the European markets
Kolkata , July 21 Exide Industries is exploring acquisition opportunities in Germany. The company has also decided to carry out a Rs 120 crore-capacity expansion in all its facilities in India and is setting up second manufacturing facility at Haldia in West Bengal to primarily cater the export market. The facility will manufacture industrial traction batteries. "A number of German battery makers have run into rough weather in recent years. We are exploring acquisition opportunities in that country. However, we are yet to take a call on such possibilities," the company Chairman, Mr S.B. Ganguly, told newspersons, after the 59th annual general meeting held on Friday .
Looking West
According to company sources, a number of German companies were forced to pull down their shutters in recent years due to high labour cost and the company is scouting for opportunities in both automotive and industrial battery segments. The acquisition, if comes through, will cater the European markets. Exide has subsidiaries in the UK (Espex Batteries Ltd), Singapore (Chloride Batteries S.E. Asia Pte Ltd) and Sri Lanka (Associated Batter Manufacturers Ltd). The company has also decided to increase the operations of Chloride Batteries S.E. Asia Pte Ltd to meet increasing demands from countries like Japan, Australia, New Zealand and others.
domestic capacities
To cater the growing demand for automotive and industrial batteries, Exide Industries have decided capacity expansion in all its eight manufacturing facilities covering almost all the major products. The expanded capacity will be commissioned by March 2007. Automotive battery capacity will be expanded from the existing 4.5 million pieces to 5.5 million pieces. Motorcycle batteries, which are experiencing the highest demand, will move up from 6 million pieces to 7.5 - 8 million pieces. The industrial battery capacity will be expanded by 150 million ampere hour. Apart from expanding capacities of the existing production lines at Hosur, Haldia, Shyamnagar and Guindy, the company will set up a second facility at Haldia to produce up to one million pieces of traction batteries at an approximate cost of Rs 40 crore.
More Stories on : Overseas Investments | Mergers & Acquisitions | Automobile Components
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