French battery maker Saft buys remaining 49% in Indian venture
French battery manufacturer Saft, a unit of Total, has announced the acquisition of the remaining 49 per cent stake in its Indian joint venture Amco Saft India from Amalgamations Group, the JV partner, for an undisclosed sum. With this, the company plans to rename its Indian subsidiary Saft India and reinforce its partnership with Indian industries.
With revenue of 745 million, Saft was recently acquired by Total for $1.1 billion. Saft partnered with the Indian Space Research Organisation (ISRO) in 1977 for the launch of the first Indian satellite; Saft has assisted India in the launch of 67 satellites thereafter. Saft batteries are used for propelling satellites into the orbit, and as backup power for satellites to function for a long time in harsh, unknown conditions.
Saft is providing back-up power for continuity to over 16,000 Reliance Jio base stations in India; the contract was valued at 27 million (~2.25 billion).
“We are increasing our focus on India through our local subsidiary to support Indian industries as well as the government’s ‘Make in India’ programme. We are envisaging our growth here,” said Franck Cecchi, executive vice-president (Industrial Standby Division) and chairman of the board, at Saft’s India arm.
Saft has been present in the Indian market since the early 1900s through Stone, UK, which helped build Indian Railways operations. In 2006, the company began manufacturing in India through a joint venture with Amco, in which the French battery manufacturer had 51 per cent stake. Since then, Saft has been powering India’s critical space missions by ISRO, enabling safe transportation through metros in Delhi, Uttar Pradesh, Kolkata, Bengaluru and Chennai, as well as building presence in the telecom sector and providing standby power to industry.
After 11 years of continuous growth in the Indian market with nickel-cadmiumbased technology, Saft acquired the remaining 49 per cent of the joint venture company, said Cecchi without divulging the size of the deal. “Now, we are looking to strengthen our leadership position in India, with an increased focus on rail, telecom and infrastructure. This is why we are increasing our investment in our plant, in both lithium-ion and nickel technologies. This will allow us to continue to be more responsive to the needs of our Indian customers,” said Guy-Patrick de Broglie, general manager at Saft India.
Saft will celebrate 2018 as the centenary year. The company has more than 3,000 industrial customers globally. The company has research centres in France and the US, with 14 manufacturing sites and 30 sales offices.
Saft specialises in advanced technology battery solutions for industry — from the design and development stage to production, customisation and service provision. For 100 years, Saft’s long-lasting batteries and systems have provided critical safety applications, back-up power and propulsion for our customers.