Exide Industries + Rain Calcining Foreign Acquisition

The board of Exide Industries has given approval for acquisition of 26% stake in a joint venture company in Australia for marketing of traction batteries. Further, the board has also approved the acquisition of the balance 49% shareholding in its existing 51% subsidiary company, Caldyne Automatics.

Rain/CII Holdings, a subsidiary of Rain Calcining, has completed its acquisition of CII Carbon, L.L.C., USA for a cash purchase price of approximately US $ 595 million on 19 July 2007 (New York time). With this acquisition of CII, the company has become the largest manufacturer of calcined petroleum coke in the world.