Exide chairman S.B. Ganguly (left) with MD designate T.V. Ramanathan in Calcutta on Saturday. Picture by Kishor Roy Chowdhury

Calcutta, April 21: Exide Industries plans to double its production, sales and profits in the next three years, for which the company has earmarked a capital expenditure of around Rs 450 crore.

Around Rs 100 crore will be invested in the Shyamnagar and Haldia factories in Bengal. This will be a challenge for the new management team under the leadership of T.V. Ramanathan, who takes charge as managing director and CEO from May 1, Exide chairman S.B. Ganguly told reporters here today.

Ganguly will relinquish the chairman’s post on April 30 but will continue as chairman emeritus of the company.

According to the chairman, meeting the challenge will not be a difficult task for the management if the present industrial growth continues. Ganguly, however, expressed concern over the price rise and competition in the lead acid storage battery industry.

The company is also having preliminary discussions with Australian and German companies for joint ventures in technology transfer, Ganguly said.

The company is also exploring the possibility of setting up a plant in Uttaranchal, which is emerging as a major automobile hub.