EnerSys has announced the purchase of the remaining shares in their joint venture company in India, Energy Leader Batteries India Private Limited. Energy Leader is a manufacturer of a comprehensive range of industrial batteries serving both reserve power and motive power customers in India.
“As we have noted previously, we will continue to expand globally to meet the needs of our customers and to better serve additional geographic markets,” said John D. Craig, chairman, president and chief executive officer of EnerSys. “This transaction, in addition to our recently completed transactions, meaningfully expands the addressable markets for our products in South Asia.”
Mark Tough, president of EnerSys Asia, added, “The continued rapid growth of the Indian markets provides exciting opportunities for EnerSys. Our joint venture provided a solid platform to establish our business in India, and the completion of the acquisition of the remaining ownership interest provides us the opportunity to accelerate our regional growth strategy.”
