exide buys guj plant from exide tech arm - storage battery
Kolkata: Exide Industries, a leading battery manufacturer, has finally acquired Gujarat-
Base factory in Tudor India, Indian branch of the United States
Based on Exide technology.
The size of the transaction, though unknown, has played an important role as it will mark 20-year-
Long-standing struggle between US and Indian trademark owners on the issue of brand ownership of Exide in India.
This is one of the few cases in which Indian companies have successfully blocked multinational giants from entering the domestic market.
Exide India informed the stock exchange on Monday that "the company has entered into an asset purchase agreement with Tudor India Pvt Co. , Ltd. to acquire the real estate and movable property of its plant located in the plot.
Taluka Prantij NH No 8 Kamalpur 10/1 ", Sabarkantha district, Gujarat state ".
"The above-mentioned asset purchase transaction is expected to be completed within one month," battery professionals said . ".
The plants of Tudor are not
Operations over the past few months.
Tudor India is the current name of Exide Technologies in India.
The dispute between the two companies dates back to 1997, when Exide Technologies in the United States entered the Indian market after opening up, and in the past few decades, india's export industry has sold car batteries under the "export" trademark.
Once America-
India-based Exide Industries filed a trademark infringement lawsuit in the Delhi High Court.
After a long legal conflict, the court restricted the use of the "Exide" trademark by Exide Technologies in India in 2012.
Exide Technologies also appealed the judgment of 2012 to the division judge.
Finally, follow a long
Has arrived at the Supreme Court for a protracted legal struggle, Exide Industries has stepped outof-the-
Reached a court settlement with global battery major Exide Technologies Inc.
Under the 2017 agreement, Exide Technologies agreed not to use the Exide brand in India.
According to sources, Exide US later proposed to sell its products in India using the Prestolite trademark.
The ban that Exide India seeks is to prevent them from using anything that describes the origin, or their connection to the name of Exide's company, and the fact that Prestolite has a connection with Exide.
Exide Industries claims that the earliest registration of the Exide trademark took place on 1942 and that, pursuant to the agreement reached between Chloride Group and Exide India on 1978, chloride Group plc has agreed to transfer the trademark Exide to Indian companies.
At present, the turnover of Exide is Rs 9,500.
Trade = TrademarkExide industry fights have been selling "exide "(
Registered by Chloride India on 1942)
In the past few decades, battery technology in the United States entered the Indian market in 1997. The dispute over "Exide" brand ownership in India began with Exide India and Exide TechExide Ind in the Delhi High Court, arguing that through the agreement of 1978 on the export of chlorine Group and India, the former transferred the "Exide" trademark to the Indian coThe Court in 2012, limiting the use of the "Exide" trademark by Exide Tech in indias. of-the-