Exide to invest Rs 350 cr to increase capacity

Battery maker Exide Industries would invest Rs 350 crore in the present fiscal to increase manufacturing capacity at its existing plants, a top company official said today.
"The company is looking to invest Rs 350 crore 2014-15, mainly to increase industrial battery making capacity at its existing plants," P K Kataky, managing director and chief operating officer of Exide Industries, told reporters on the sidelines of the company's AGM here.
The company might also consider raising the automotive battery capacity in the next fiscal as it expects the industry sentiments to improve, he said.
"Next year we might go for even higher capacity expansion in the automotive battery segment if the demand in the sector picks up going forward," Kataky said.

The company was also witnessing an increased demand in the replacement battery market. "We expect the sale of commercial vehicles to improve with higher economic activities going forward, which should lead to additional demand in the OEM market from the second quarter," he said.