Johannesburg-based auto parts maker and distributor Metair has bought 25% of the Kenya-based lead-acid battery firm Chloride Exide for $7.3 million.
The move supports managing director Theo Loock’s confirmation last year that the company was investigating 11 expansion projects, including two joint ventures in Africa.
Loock said at the time that Metair was considering a vehicle battery manufacturing and distribution joint venture in Kenya and a battery distribution joint venture in North Africa that would cover Algeria, Morocco, Egypt and the Middle East.
Chloride Exide claims to be the largest lead-acid battery maker in eastern and central Africa, making up to a million batteries a year.
It makes lead-acid automotive batteries (including maintenance free), deep cycle batteries, solar panels, solar water heating, inverter power back-up systems, motive power batteries, standby batteries and related accessories.
The batteries are made at the company’s factory in Kenya, the Associated Battery Manufacturers East Africa (Abmeal).
Metair has set itself the goal of becoming a global leader in its field, increasing the number of batteries it produces annually from 7.2 million to 50 million within the next five years.
