Time Technoplast acquires Bahrain-based co
Time Technoplast Ltd announced that it has acquired 100 per cent stake in Gulf Powerbeat WLL (GPW), Kingdom of Bahrain – through its subsidiary NED Energy Ltd (NED), Hyderabad.
GPW has state-of-art production facility at South Alba Industrial Area, Manama, Bahrain for manufacturing high quality long life batteries. It is currently owned by a reputed business family in the UAE.
The company has entered into the battery business early this year through acquisition of NED Energy Ltd – Hyderabad based company, manufacturing Valve Regulated Lead Acid (VRLA) batteries mainly for high growth telecom sector. NED has successively increa sed its capacity in FY ’07 and FY ’08 (present day capacity 100 million AH) and is completely sold out on its present capacity.
NED is tripling its present capacity from 100 million AH to 300 million AH through project expansion at Jammu (J&K) which is expected to come on stream by the second quarter of FY’09. The acquisition would provide the company ‘ready to use’ capacity whic h could be integrated fully with its operation in the next three months.
GPW, Bahrain has installed capacity for telecom/automotive batteries of up to 150 million AH with surplus capacity to produce vital battery components (grids and Lead plates) of additional 250 million AH.
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