Japan’s GS Yuasa International has bought 50% of the outstanding shares in a Turkish lead-acid battery manufacturer.
The Asian battery manufacturer will turn Inci Aku Sanayi ve Ticaret Anonim Sirketi (inci) into one of its ‘key centers’ in its global strategy as it looks to expand during its third mid-term business plan.
The automotive, forklift and stationary lead-acid battery manufacturer agreed to the share transfer with its existing shareholders including Inci Holding Anonim Sirketi.
A GS Yuasa statement said: “Capitalising on the location where it stands as a geographical advantage, this manufacturing company makes over half of its turnovers through its export to destinations the world over, in more than 80 countries.
“We are aiming, as a target of our group, to realise our sales expansion domestically in Turkey, where there continues to be a steady increase in demand for lead-acid storage batteries.”
The company is also aiming to further scale-up its existing exports to Europe, Asia, the Middle East and North Africa as part of its global strategy.
The statement added: “We are committed to pursuing a large expansion of our lead-acid storage battery business in the above-mentioned regions, in which we have not been very competitive thus far.”
GS Yuasa plan to change the trade name of Inci to “Inci GS Yuasa Anonim Sirketi” later this year, possibly in August.
Pic: GS Yuasa president Makoto Yoda
