April 6, 2023: Indian batteries producer Exide Industries said on March 30 it had completed the amalgamation of its Chloride Power Systems & Solutions subsidiary which designs and manufactures battery chargers and related equipment.

The move was approved by the boards of both companies in March 2022.

Exide said the amalgamation would provide for greater synergies, optimize the use of personnel and facilities and boost growth as both firms are inter-dependent on the supply of a range of materials.

The move also streamlines operations by reducing the number of legal entities in the group, which will reduce the multiplicity of legal and regulatory compliance requirements and cut costs, Exide said.

On March 17, Exide announced the impending merger of two of its lithium business subsidiaries — Exide Leclanche Energy Private Limited and Exide Energy Solutions Limited — subject to regulatory approvals.