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India’s largest automotive battery maker, Exide Industries, has entered into an agreement to acquire the Gujarat-based facility of Tudor India, according to a stock market notification. Tudor is the Indian arm of the US-based Exide Technologies.
According to sources, the factory was largely unused as Tudor failed to make much of a dent in the Indian market. In May last year, Exide Industries announced it had reached an out-of-court settlement with Exide Technologies over rights for using the “Exide” mark in India.
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