Exide Industries Ltd. has entered into an additional Technical License and Assistance Agreement with Japan-based Shin-Kobe Electric Machinery Co. Ltd. to implement new manufacturing processes for automotive batteries.
Under this agreement, shin-Kobe will provide to Exide the technology and extensive technical support and assistance to enable Exide to manufacture quality automotive batteries in its various plants in India. This new technology would enable the company to not only manufacture superior quality batteries but also expected to result in cost reduction.
Shin-Kobe Electric Machinery Company is a manufacturer of automotive and industrial batteries and part of the renowned Hitachi Group and is a wholly-owned subsidiary of Hitachi Chemical Co. Ltd., Japan.
At the BSE, Exide Industries shares are currently trading at Rs.122.65, up 0.90 percent from the previous close.
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