Chloride Alloys India Ltd (CAIL) has amalgamated with Chloride Metals Ltd (CML), with effect from March 1, 2016. Both the companies, which are wholly owned subsidiaries of Exide Industries Ltd, are engaged in running smelting plants having integrated facilities for extracting lead from exhausted batteries and manufacturing & supplying recycled lead and lead alloys.
Amalgamation will strengthen the position of the merged entity by enabling it to harness and optimise the synergies of the two companies. "The business of the merged entity will be carried on more efficiently and economically as a result, inter alia, of pooling and more effective utilisation of combined resources of the said companies and substantial reduction in costs and expenses. Amalgamation will lead to increased competitive strength, productivity gains and logistic advantages," said Exide Industries in a press release.
