GS Yuasa Establishes Forklift Lead Battery JV in Thailand

GS Yuasa International announced on Monday the firm established a joint venture with Siam Motors, Thai largest automotive group, to produce lead storage battery for forklifts. The JV will start production in next spring. The sale target is 400,000 cells per year in fiscal 2013 ending March 2014 with 40% market shares in ASEAN and Oceania.The JV, GS Yuasa Siam Industry, was established in Thailand on 1 July. The plant will be constructed in Gateway Industrial Estate, Chachoengsao, Thailand. The capital is about 500 million yen, 60% shared by GS Yuasa and 40% by Siam Motors.The JV will start lead storage battery production at 200,000 cells per year in next year, those which will cater 8,000 forklifts. The annual revenue is estimated at 300 million yen. The output capacity is scheduled to double toward fiscal 2013.GS Yuasa Group now produces lead storage battery for forklifts in Wuxi, China and Brisbane, Australia.