French battery manufacturer Saft buys remaining 49% in Indian venture

French battery manufacturer Saft, a unit of Total, has announced the acquisition of the remaining 49 per cent stake in its Indian joint venture Amco at an undisclosed sum. With this, the company plans to establish its Indian subsidiary Saft India and reinforce its partnership with Indian industries.

With euro 745 million business, Saft was recently acquired by Total for $1.1 billion. Saft partnered with Indian Space Research Organisation (ISRO) in 1977 for the launch of the first Indian satellite. Saft has associated with India in the launch of 67 satellites thereafter. All Saft batteries used for propelling satellite to the orbit and backup power for the satellite to function for a long time in harsh and unknown conditions.

Saft is providing back up power for continuity to over 16,000 Reliance Jio base stations in India –winning euro 27 million (Rs 2.25 billion).

“We are increasing our focus on India through a local subsidiary – Saft India- to support Indian government’s ‘Make in India’ programme and also Indian industries. We are envisaging our growth here,” said Franck Cecchi, Executive Vice President, Industrial Standby Division, Chairman of the board, Saft India.

Saft has been present in the Indian market since the early 1900s through Stone, UK, which helped build Indian Railway operations. In 2006, the company began manufacturing in Indian through a joint venture with Amco in which the French battery manufacturer had 51 per cent stake. 
 

Since then, Saft has been powering India’s critical space mission by Indian Space Research Organisation (ISRO), safe transportation through metros in Delhi, Uttar Pradesh, Kolkata, Bengaluru and Chennai, as well as building presence in telecom and standby power for industry.

After 11 years of continuous growth in the Indian market with nickel-based technology, Saft acquired the remaining 49 per cent of the joint venture company, Cecchi said without divulging the size of the deal.

“Now, we are looking to strengthen our leadership position in India with an increased focus on rail, telecom and infrastructure. That is why we are increasing our investment in our plant, in both lithium-ion and nickel technologies. This will allow us to continue to be more responsive to the needs of our Indian customers,” said Guy-Patrick de Broglie, General Manager, Saft India.

Saft celebrates 2018 as the centenary year. The company has more than 3000 industrial customers worldwide. The company has research centres in France and the US with 14 manufacturing sites and 30 sales offices.

Saft specializes in advanced technology battery solutions for industry, from the design and development to the production, customization and service provision. For 100 years, Saft’s longer-lasting batteries and systems have provided critical safety applications, backup power and propulsion for our customers.