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EnerSys Enters Into Joint Venture in India for energy storage solutions

EnerSys (NYSE: ENS), the global leader in stored energy solutions for industrial applications, announced today the formation of a new joint venture company in India to produce and market batteries for industrial applications.

EnerSys will have majority ownership in the joint venture with Energy Leader Batteries India Limited, an Indian producer of industrial batteries. The joint venture will serve both reserve power and motive power customers in India.

“As we have noted previously we will continue to expand globally to meet the needs of our customers and to better serve additional geographic markets,” said John D. Craig, chairman, president and chief executive officer of EnerSys. “This transaction, in addition to our recently completed transactions in South Africa and South America, meaningfully expands the addressable markets for our products.”

David M. Shaffer, president EnerSys Asia, added, “The rapid development of infrastructure and modernization in India brings exciting opportunities for EnerSys. The joint venture will also provide products and brands well known to our global customers to support their south Asian growth.”

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