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Time Technoplast acquires Gulf Powerbeat WLL
By siliconindia
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Thursday, 27 December 2007, 20:30 IST
New Delhi: Time Technoplast, which provides a range of technology based polymer product today said it has acquired Bahrain-based Gulf Powerbeat WLL (GPW), through its Hyderabad subsidiary NED Energy.
GPW has state-of-art production facility at South Alba Industrial Area, Manama, Bahrain for manufacture of high quality Long Life batteries.
The company had entered into the battery business early this year through acquisition of NED Energy. Hyderabad based Company, manufacture Valve Regulated Lead Acid (VRLA) batteries mainly for the telecom sector.
GPW, Bahrain has installed capacity for telecom and automotive batteries of up to 150 million with surplus capacity to produce vital battery components (grids and Lead plates) of additional 250 million. NED plans to tap GCC market for automotive batteries and bring additional components into India to augment the capacity of its Hyderabad plant from 100 million to 200 million in the first phase.
The total investment in Bahrain project is estimated at 10 million dollar over the next three years and shall be financed through a mix of equity contribution from NED and overseas debts.