Wednesday, July 30, 2008

Exide may increase exports from Sri Lanka

Exide Industries, that enjoyed a 76 per cent market share in automotive batteries, will increase exports from its Sri Lankan subsidiary to India by 15 to 20 per cent this fiscal to take advantage of tax benefits in trade among South Asian Association for Regional Cooperation(SAARC) countries.

Exide subsidiary Associated Battery Manufacturers (Ceylon) shipped around 88,000 batteries to India during 2007-08. The ABML facility was upgraded earlier during the fiscal that resulted in the rise in exports as well as local sales.

While exports more than doubled from Rs15.9 crore in in FY07 to Rs33 crore in FY08, the local sales shot up 35 per cent to Rs111.4 crore during the same period. Field trials have started for the Advanced Hybrid Maintenance free technology based batteries at ABML, Sri Lanka.

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