Eveready Industries India has executed an agreement with Nuland Technologies, for sale of its land situated at Moula Ali Industrial Development Area, Hyderabad, for a consideration of Rs 100 crore. The sale is expected to be completed within 4 - 5 months on completion of certain milestones.
The land was earlier the location of a battery manufacturing facility which had become economically unviable which led to it becoming idle for some time. The land therefore became surplus to the Company's needs.
Eveready Industries India (formerly known as Union Carbide India) is engaged in the manufacture of dry cell batteries and flashlights. It also manufactures tea under the brands Tez, Jaago, Premium Gold and Classic and insect repellents under the brand Eveready Poweron. The company was founded in 1905 and is based in Kolkata, West Bengal.