Exide Industries

Exide picks 51% shareholding in Bangalore-based firm for Rs 35 crore

Exide Industries, a leading lead acid storage battery company, has bought 51% shareholding in Leadage Alloys India Ltd., a lead smelting company located near Bangalore for Rs 35 crore. This is the second lead smelting unit in which Exide has taken a controlling interest.

Last year in October, Exide Industries had bought lead smelter Tandon Metals Pvt. Ltd, to access recycled raw materials and cut dependence on high-cost imported lead.