EnerSys' Ironclad, General Battery and EnForcer product lines.

Battery maker EnerSys of Reading purchased the remaining shares in joint venture company Energy Leader Batteries India Pvt Ltd of Hyderabad, India, effective from 19 November.

In a securities filing, EnerSys says it obtained a controlling financial interest in battery maker Energy Leader in early 2012 and assumed an Indian term loan at the date of acquisition. EnerSys paid the loan in full in late 2012 and replaced it with a short-term borrowing on which the amount outstanding was USD15.1 million as of 31 March 2013.

"The continued rapid growth of the Indian markets provides exciting opportunities for EnerSys," says Mark Tough, president of the Singapore-based EnerSys Asia business segment. "Our joint venture provided a solid platform to establish our business in India, and the completion of the acquisition of the remaining ownership interest provides us the opportunity to accelerate our regional growth strategy."

EnerSys manufactures motive power batteries for use in electric forklift trucks and other commercial electric-powered vehicles and reserve power batteries for applications in the telecommunication and utility industries, uninterruptible power supplies and other stored-energy requirements, including aerospace and defence systems.

EnerSys competitors in Asia for motive power products include GS-Yuasa Corp of Kyoto and Tokyo, Japan; Shin-Kobe Electric Machinery Co Ltd of Tokyo; and Zibo Torch Energy Co Ltd of Zibo, China.

EnerSys reports profit of USD165 million on sales of USD2.28 billion for the fiscal year ended 31 March 2013. On that date, EnerSys had about 9,000 employees.