Exide finalises acquisition of Tandon Metals

Mumbai, Oct 31 (UNI) Exide Industries, leading manufacturer of lead acid storage batteries, has finalised the 100 per cent acquisition of Tandon Metals, an unlisted lead smelting company near Pune.

''We are pleased that we have been able to acquire this smelter, and the challenge now is to scale up the production capacity of this unit in a cost effective manner in the shortest period of time possible,'' Exide CEO and managing director T V Ramanathan said in a press release here today.

Commenting on the development, Exide research and development director Dr S K Mittal said, ''This acquisition opens up avenues for us to outsource different types of lead alloys from a source which has a proven track record. The R&D of Exide would also benefit from having a ready source to research and evaluate new alloy composition.'' UNI