Exide to invest Rs 180 crores on expansion in FY09

Kiran · 07-31-2008, 05:53 PM

Automotive and industrial battery maker Exide Industries Ltd plans to invest Rs 180 crores to raise capacity in FY09, Managing Director and Chief Executive Officer T.V. Ramanathan said on Friday.

"We will raise capacity by 20 per cent in both industrial and auto segments," he told reporters after the annual shareholders meet.

Ramanathan also said that the company would examine any price increase only if lead prices rise above $2,500 a tonne. Current lead prices are around $2,200 a tonne, he said.

07-31-2008, 05:53 PM	#1 (permalink)
Kiran Status: Administrator Join Date: Feb 2008 Posts: 165	Exide to invest Rs 180 crores on expansion in FY09 Automotive and industrial battery maker Exide Industries Ltd plans to invest Rs 180 crores to raise capacity in FY09, Managing Director and Chief Executive Officer T.V. Ramanathan said on Friday. "We will raise capacity by 20 per cent in both industrial and auto segments," he told reporters after the annual shareholders meet. Ramanathan also said that the company would examine any price increase only if lead prices rise above $2,500 a tonne. Current lead prices are around $2,200 a tonne, he said.

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