Japan-based battery company GS Yuasa is acquiring 50% of the outstanding shares of Inci Aku Sanayi ve Ticaret Anonim Sirketi in the Republic of Turkey. Inci manufactures and sells lead-acid batteries for automotive, forklift and stationary applications.
GS Yuasa has embarked on a strategic global expansion to grow its business and earnings capacity.
Inci is the second-largest lead-acid storage battery company is Turkey, measured by turnover, more than half of which are through its export to destinations the world over, in more than 80 countries including its neighbors.
GS Yuasa said that it aims to realize sales expansion domestically in Turkey where there continues to be a steady increase in demand for lead-acid storage batteries and also further scale-up its existing exports to regions including Europe, Asia, the Middle East and North Africa.
As part of its global strategy, it is committed to pursue a large expansion of the lead-acid storage battery business in those regions, in which it has not been very competitive thus far.
GS Yuasa will change the trade name of Inci to “Inci GS Yuasa Anonim Sirketi” later this year.