Exide enters lead smelting & recycling business
Exide Industries Ltd on October 31, 2007 has announced that the Company had finalized the 100% acquisition of Tandon Metals Pvt Ltd, an unlisted Lead smelting Company located near Pune, Maharashtra.
Mr. T V Ramanathan, Managing Director & CEO of Exide stated that, "we are pleased that we have been able to acquire this smelter who is an important supplier of Lead Alloys of good quality to our factories located in Western India. The challenge that we face now is to scale up the production capacity of this unit in a cost effective manner in the shortest period of time possible. This we believe would give us economies of scale and inter-alia, assist us in import substitution."
Dr. S K Mittal, Director — Research & Development, Exide was ecstatic on this development. He said "this acquisition opens up avenues for us to outsource different types of Lead Alloys from a source which has a proven track record without in any way compromising on quality. R & D of Exide would also benefit from having a ready source to research and evaluate new alloy composition."
Mr. T V Ramanathan, Managing Director & CEO of Exide stated that, "we are pleased that we have been able to acquire this smelter who is an important supplier of Lead Alloys of good quality to our factories located in Western India. The challenge that we face now is to scale up the production capacity of this unit in a cost effective manner in the shortest period of time possible. This we believe would give us economies of scale and inter-alia, assist us in import substitution."
Dr. S K Mittal, Director — Research & Development, Exide was ecstatic on this development. He said "this acquisition opens up avenues for us to outsource different types of Lead Alloys from a source which has a proven track record without in any way compromising on quality. R & D of Exide would also benefit from having a ready source to research and evaluate new alloy composition."
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