The company is eying Rs 100 crores revenue in the first year of operation.
Artheon Battery Company Pvt Ltd (ABCPL) has commissioned its new battery manufacturing facility at Sinnar, near Nashik, at a total investment of Rs 75 crore.
The company is eying Rs 100 crores revenue in the first year of operation, including 30 percent revenue from export. ABCPL is a 51:49 joint venture between Artheon Energy Group from India and NorthStar Battery Company of Sweden.
This newly set up facility, which has just commenced its commercial operation, is spread across 9,000 sq metres at Malegaon (Sinnar) area of Maharashtra Industrial Development Corporation (MIDC). This facility has a manufacturing capacity of 25 lakh batteries a year.
This new facility will manufacture a complete line of lead-acid batteries serving both the domestic and export markets.
The joint venture will combine the industry-leading manufacturing and technology capabilities of NorthStar and the distribution and service capabilities of Artheon across India.
"We have commissioned our new joint venture battery manufacturing facility at Sinnar and the investment in the project is around Rs 75 crores. This facility will cater to the domestic and export markets. We are eyeing Rs 100 crore revenue in the first year of operation," Sushil Jiwarajka, Chairman of Artheon Group, told Business Standard.
The Artheon invests in and operates companies in telecommunications, IT, renewable and clean technologies.
The NorthStar Battery Company is a member of the NorthStar Group, based in Stockholm, Sweden, serving the world's leading equipment manufacturers in the telecommunications and data storage backup power markets. The company has major operating units in Stockholm (Sweden), Springfield, Missouri (USA) and Shanghai (China).