Exide Industries plans to buy Gujarat unit of US firm

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Kolkata | Published: June 26, 2018 4:47:17 AM

In a filing on Monday, Exide Industries said it has entered an agreement with Tudor India towards acquisition of its immovable and movable assets of the latter’s Gujarat unit.

The US firm had decided to waive any right to the ownership or use of the ‘Exide’ mark. (Reuters)

India’s largest storage battery maker Exide Industries is planning to acquire the Gujarat facility of Tudor India, a part of US-based Exide Technologies, within a month. The US firm had decided to waive any right to the ownership or use of the ‘Exide’ mark or name in India last year after a settlement pact with the Kolkata-headquartered battery maker.

In a filing on Monday, Exide Industries said it has entered an agreement with Tudor India towards acquisition of its immovable and movable assets of the latter’s Gujarat unit.

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