Saft buys stakes from Amco to hold direct desi presence

Saft completed the purchase of shares from its JV partner Amco, a city-based firm, to establish Saft India and reinforce its partnership with Indian industries. “We have been at the forefront of creating future technologies. Our batteries and systems have helped industries around the world with critical safety applications, back-up power and propulsion.”

“We are increasing our focus on India now as Saft India to support the Indian government, Make in India and domestic industries. We look forward to accelerating our growth here,” said Franck Cecchi, EVP, Industrial Standby Division Chairman of the Board of Saft India. Saft has been present in India from early 1900s through Stone, UK, which helped build Indian Railways’ operations. In 2006, it began manufacturing in India through a joint venture with Amco. 

Since then, Saft has been powering India’s critical space missions by ISRO, safe transportation through metros like Chennai and  Delhi, as well as building presence in telecom and standby power for industry.

After 11 years of continuous growth in the Indian market with nickel-based technology, Saft acquired the remaining 49 pc of the JV firm.

“The joint venture has proven to be a successful partnership since 2006. Now, we are looking to strengthen our leadership position in India with an increased focus on rail, telecom and infrastructure,” said Guy-Patrick de Broglie, GM Saft India.