Exide Industries has acquired home inverter business of Kevin Power Solutions, an Uttar Pradesh-based manufacturer of power back-up systems, batteries and home appliances.
The acquisition will help the leading manufacturer of automotive and industrial batteries to provide complete household power back-up system.
The Rs4,500 crore Exide has acquired Kevin’s home inverter business, with its manufacturing plant in Roorkee, Uttarakhand, with technology and manpower.
“This is in a way a backward integration for us, as we have been providing batteries for household inverters as well. Kevin has good technology and has been maintaining the quality of the product. The facility at Roorkee now produces less than 1,000 home inverters a month and we will be ramping up production to 5 lakh units in 12 to 18 months. The manpower at the facility also will be increased from 155 to 400,” Exide Industries CEO and managing director TV Ramanathan said. However, he declined to reveal the value of the deal.
Under power back-up solutions, the Rs200 crore Kevin produces inverters, UPS and batteries. It has retail as well as institutional sales of Kevin brand of inverters, apart from providing original equipment for 17 inverter brands.
“We have home inverters of 650VA, 850VA and 1450VA. Our products are retailed through 5,000 counters in 17 states. We also export power back-up solutions to 41 countries mainly in Africa, West Asia, Saarc and Latin America,” said Himanshu Kansal, a spokesperson of the company.
The company has five manufacturing facilities — two in Roorkee and three in Haridwar.
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The acquisition will help the leading manufacturer of automotive and industrial batteries to provide complete household power back-up system.
The Rs4,500 crore Exide has acquired Kevin’s home inverter business, with its manufacturing plant in Roorkee, Uttarakhand, with technology and manpower.
“This is in a way a backward integration for us, as we have been providing batteries for household inverters as well. Kevin has good technology and has been maintaining the quality of the product. The facility at Roorkee now produces less than 1,000 home inverters a month and we will be ramping up production to 5 lakh units in 12 to 18 months. The manpower at the facility also will be increased from 155 to 400,” Exide Industries CEO and managing director TV Ramanathan said. However, he declined to reveal the value of the deal.
Under power back-up solutions, the Rs200 crore Kevin produces inverters, UPS and batteries. It has retail as well as institutional sales of Kevin brand of inverters, apart from providing original equipment for 17 inverter brands.
“We have home inverters of 650VA, 850VA and 1450VA. Our products are retailed through 5,000 counters in 17 states. We also export power back-up solutions to 41 countries mainly in Africa, West Asia, Saarc and Latin America,” said Himanshu Kansal, a spokesperson of the company.
The company has five manufacturing facilities — two in Roorkee and three in Haridwar.
....more info