Camel Group's Outdated Lead-Acid Battery Capacity to Close is ``Minimal''

SHANGHAI, Jul. 29 (SMM) – Camel Group said the amount of its outdated lead-acid battery capacity ordered by Chinese government to close was only ``minimal’’.

China’s Ministry of Industry and Information Technology (MIIT) ordered closures of outdated metal capacities in a statement on July 25.

A 10-KVAh lead-acid battery plant at Camel Group’s subsidiary Hubei Camel Special Power Co. was included on the closure list, the Group told Shanghai Stock Exchange over the weekend.

Total capacity of the Group’s main product – engine start battery – was 1,300 KVAh as of the end of 2012, it said in a statement.

Furthermore, the Group has switched to production of lithium ion power battery in accord with China’s environmental policies and the company’s market positioning, it added.