Eveready signs supply pact with S Asia firm

Eveready Industries India has entered into an agreement with a south Asian company for the supply of rechargeable batteries.

The company was open to exploring joint venture prospects with the company once the volumes increased. The company has set a target of seven million batteries, initially.

Eveready today launched the Eveready Recharge 2100 series, which could be recharged up to a 1,000 times. Along with the 2100 series, Eveready Recharge also introduced a quick charger that could charge both AA and AAA rechargeable batteries.

Saurav Z Medhi, senior general manager ""rechargeable business, Eveready Industries India, said, "The newly introduced rechargeble batteries are three times as powerful as normal rechargeable batteries of 700mAh."

Medhi said the company would be the first player from the organised market to venture into the rechargeable batteries' segment. The batteries were ideal for digital cameras, personal cassette and CD players, MP3 players, PDAs, remote controlled racing toy cars.

Eveready plans to launch the product in around 30 markets in the country.

Medhi said the main competition for rechargeable batteries was the grey market and there was no estimate as to how the big this market is.

Eveready was the market leader in the dry cell battery. The company has a 46.5 per cent market share in carbon zinc battery and 85 per cent in torches and flashlights.

The range of products includes batteries, alkaline batteries, rechargeable batteries, flashlights and packet tea under the Greendale brand.