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Exide buys lead facility in Pune

Calcutta, Oct. 31: Exide Industries has acquired a lead smelter in Pune.

The largest lead-acid battery maker in India is worried about the rise in lead prices in the international market.

Exide paid Rs 22 crore to buy Pune-based Tandon Metals, an unlisted company with a capacity to recycle 10,000 tonnes of used lead.

The company said it hoped to double the capacity of this smelter to reduce dependence on virgin lead whose price has increased 100 per cent since April in the global market.

“Our target is to meet 35-40 per cent of lead requirement through recycling of old batteries,” managing director T.V. Ramanathan said.

Of the 150,000 tonnes of annual lead requirement, 10,000 tonnes, or 7.5 per cent, is met through recycling.

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