Saft takes Controlling Stake of Battery Company in India

May 11, 2006 by Jeff Shepard

Saft announced that it has taken control of AMCO Power Systems Ltd, based in Bangalore, the nickel-cadmium battery business of Amalgamations private Ltd. The entity will be called AMCO-Saft India Ltd.

With this action, Saft is continuing its long-term commitment to the Indian market by reinforcing its relationship with its long-term partner in this high growth region. The company AMCO-Saft India Ltd is one of the major manufacturers of nickel-cadmium industrial batteries in India, and manufactures batteries mainly for industrial, standby and rail applications for the Indian market, using certain key components supplied by Saft. The Saft Group is aiming to address additional markets, such as the military battery market in India, Bangladesh, Sri Lanka and Nepal.

John Searle, President and CEO of Saft said: "This joint-venture is an opportunity to expand our business in the fast-growing Indian market. We are strengthening our long-term partnership with APSL and intend to develop the facility in Bangalore to take advantage of the strong demand for high-technology batteries in the industrial and military markets in India.