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 Corporate - Mergers & Acquisitions
Exide acquires lead smelting co

Kolkata, Nov. 1

Exide Industries on Wednesday said that it had acquired 100 per cent interest in the Pune-based Tandon Metals Pvt Ltd, an unlisted lead smelting company. The backward integration is expected to help Exide to use more recycled lead in its battery manufacturing facilities. According to Mr T.V. Ramanathan, Managing Director and CEO, Tandon Metals is an important supplier of lead alloys of good quality to Exide facilities located in Western India. The company is now planning to scale up the production capacity of this unit in a cost effective manner in the shortest time-period. Though the cost of the acquisition is not revealed, the board of directors of Exide previously approved an initial investment upto Rs 25 crore in acquiring lead smelting capacity. - Our Bureau

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