Exide opens second India lead smelter

Archiv – Battery producer and recycler Exide Industries Ltd from Mumbai, India will invest 350 million rupees (US$8.2 million) to set up a second smelter in India.
The firm is in talks with local smelter firms, it says. In October 2007, Exide Industries had bought lead smelter Tandon Metals Pvt Ltd, to access recycled raw materials and cut dependence on high-cost imported lead.India | Battery producer and recycler Exide Industries Ltd from Mumbai, India will invest 350 million rupees (US$8.2 million) to set up a second smelter in India.
The firm is in talks with local smelter firms, it says. In October 2007, Exide Industries had bought lead smelter Tandon Metals Pvt Ltd, to access recycled raw materials and cut dependence on high-cost imported lead.
Exide Industries officials were not available to elaborate on the plans for a new smelter. ’Since recycled lead is cheaper, its good news for the company if they are investing more in another smelter,’ a Mumbai based analyst says.
Lead prices have gone down 15% since the beginning of the year, and have dropped as much as 21% in the month of May. ‘€˜But lead is a highly volatile commodity, you cannot rely on one month’s fall,’€™ the analyst adds.