Time Technoplast Limited expands its Battery Operations in India
Time Technoplast Limited (TTL) announces the commencement of commercial production at its battery expansion project at Panoli (Gujarat).
In September'08, the company had undertaken a major expansion of its battery operations at Panoli near Ankleshwar (Gujarat), through NED Energy Ltd.(NED), its 71% subsidiary. The said expansion has successfully been completed in record time of six months and the commercial production at the plant commenced w.e.f 28th March, 2009.
The total installed capacity at this location stands at 100 MAHs (with sale value of Rs. 90 crores approx. at current raw material levels). NED has already established its quality leadership for serving the Telecom batteries and would absorb this additional capacity with existing customers.
After acquisition of NED, Hyderabad based VRLA battery manufacturing company, TTL was hard pressed to increase its capacity to be able to meet up huge demand for its products in telecom sector. Whereas in early 2008-09, it acquired 100% stake in Gulf Powerbeat WLL(Bahrain), a "ready to use" facility manufacturing key battery components, it simultaneously started implementing a battery assembly project at Panoli (Gujarat).