Exide
{{short description|American manufacturer of lead-acid batteries}}
{{other uses}}
{{Use mdy dates|date=October 2018}}
{{Update|date=April 2024}}
{{Infobox company
| name = Exide Holdings, Inc.
| trade_name = Exide Technologies
| logo = Exide Logo.svg
| image = Exide's Global Headquarters.jpg
| founded = {{Start date and age|1888}}
| founder = W.W. Gibbs
| hq_location_city = Milton, Georgia, U.S.
| products = Batteries
| fate = Chapter 11 bankruptcy
| successors = {{Bulleted list|Continental Battery Systems (US Exide-branded battery distribution) |Stryten Energy (battery manufacturing) |Element Resources (battery recycling)|Exide Technologies (HQ in Gennevilliers, France, has the non-USA, non-Canadian, and non-Indian businesses)}}
| website = {{URL|http://www.exide.com}}
}}
Exide was originally a brand name for batteries produced by The Electric Storage Battery Company and later became Exide Holdings, Inc. doing business as Exide Technologies, an American lead-acid batteries manufacturing company. Exide Holdings manufactured automotive batteries and industrial batteries. Exide Holdings is based in Milton, Georgia, United States.
Exide Holdings had both manufacturing and recycling plants. The former were located throughout the U.S., Pacific Rim, Europe and Australia. Recycling plants are located in Canon Hollow, which is north of Forest City, Missouri, and Muncie, Indiana. Two recycling plants in Frisco, Texas and Vernon, California have been closed in 2012 and 2013.{{cite web |author=Molly Peterson |url=http://www.scpr.org/blogs/environment/2013/06/03/13867/exide-technologies-faq-everything-you-need-to-know/ |title=Exide Technologies FAQ: Everything you need to know about recycling lead batteries in LA |work=Scpr.org |date=March 25, 2014 |access-date=October 15, 2018 |archive-date=February 14, 2017 |archive-url=https://web.archive.org/web/20170214020300/http://www.scpr.org/blogs/environment/2013/06/03/13867/exide-technologies-faq-everything-you-need-to-know// |url-status=dead }} The plants in Reading, Pennsylvania and Baton Rouge, Louisiana have also been closed.
History
=19th century=
File:Exide advert in Horseless Age 1918-01-15 v43 p82.pngExide's predecessor corporation was the Electric Storage Battery Company, founded by William Warren Gibbs in 1888. Gibbs purchased the ideas and patents of inventor Clement Payen to make the storage battery a commercial product. Gibbs targeted electric lighting companies so they could use the storage batteries to provide services to their customers.{{cite book |last1=Goodsell |first1=Charles M. |last2=Wallace |first2=Henry E. |date=1902 |title=The Manual of Statistics Stock Exchange Hand-book ... |url=https://books.google.com/books?id=qAk8AQAAMAAJ |location=Pennsylvania |publisher=Pennsylvania State University |page=457}}
In 1893 The Electric Storage Battery Company was producing lead chloride accumulators for stabilizing electric grids.{{cite web |url=https://digital.hagley.org/08055529_electric_storage_1893?solr_nav%5Bid%5D=6823b5e021a967541b1f&solr_nav%5Bpage%5D=0&solr_nav%5Boffset%5D=9&search=Electrolysis%2520of%2520Sodium%2520Chloride |title=The Electric Storage Battery Company, sole manufacturers of the chloride accumulator |author= |date=1893 |website=Hagley Digital Archives |publisher=Electric Storage Battery Company |access-date=March 6, 2021}} Nine years later there were 220 accumulator installations in service enabling electric street rail.{{cite web |url=https://digital.hagley.org/08002815_electric_storage_1902 |title=A few illustrations selected from 220 installations of the "chloride accumulator" operated in street railway service installed by the Electric Storage Battery Co. |author= |date=1902 |website=Hagley Digital Archives |publisher=Electric Storage Battery Company |access-date=March 6, 2021}}
File:Electric Storage Battery Company 18th and Allegheny Philadelphia, Pennsylvania.png
W. W. Gibbs, president of the Electric Storage Battery Company, stated on the night of Sunday December 16, 1894 that the company had consummated the day before in New York the purchase of all patents and patent rights concerning the manufacture and use of electric storage batteries of the General Electric Company, the Edison company, the Thomson-Houston, the Brush, the Accumulator company, the Consolidated Electric Storage Company and the General Electric Launch Company. Mr. Gibbs asserted that this secured to the Electric Storage Battery Company the sole right to supply this country electric storage batteries of all the various types heretofore developed, as well as the protection of every decision thus far rendered by the federal courts in the interpretation of patents of this kind.{{cite news |author= |title=IMPORTANT ELECTRIC TRANSACTION - All Patents and Patent Rights of Electric Storage Batteries Bought Up in New York by One Company |work=Buffalo Evening News |date=December 17, 1894 }}{{cite news |author= |title=A Big Electric Monopoly |url=https://chroniclingamerica.loc.gov/lccn/sn88053055/1894-12-17/ed-1/seq-1/#date1=12%2F16%2F1894&index=2&date2=12%2F17%2F1894&searchType=advanced&language=&sequence=0&words=Battery+company+Electric+Storage&proxdistance=5&state=&rows=20&ortext=&proxtext=&phrasetext=electric+storage+battery+company&andtext=&dateFilterType=range&page=1 |work=The Wilmington daily Republican |location=Wilmington, Del. |date=December 17, 1894 |access-date=November 3, 2020}}{{cite news |author= |title=Electric Storage Rights. All the Patents Secured by One Company. |url=https://chroniclingamerica.loc.gov/lccn/sn94052989/1894-12-17/ed-1/seq-2/#date1=12%2F16%2F1894&index=0&date2=12%2F17%2F1894&searchType=advanced&language=&sequence=0&words=Battery+Company+Electric+Storage&proxdistance=5&state=&rows=20&ortext=&proxtext=&phrasetext=electric+storage+battery+company&andtext=&dateFilterType=range&page=1 |work=The morning call |location=San Francisco Calif |date=December 17, 1894 |access-date=November 3, 2020}}{{cite news |author= |title=Gobble Storage Batteries - Very Important Purchase by a Philadelphia Company |url=https://chroniclingamerica.loc.gov/lccn/sn90059522/1894-12-17/ed-1/seq-1/#date1=12%2F16%2F1894&index=1&date2=12%2F17%2F1894&searchType=advanced&language=&sequence=0&words=Battery+company+Electric+Storage&proxdistance=5&state=&rows=20&ortext=&proxtext=&phrasetext=electric+storage+battery+company&andtext=&dateFilterType=range&page=1 |work=St. Paul Daily Globe |location=St. Paul Minn |date=December 17, 1894 |access-date=November 3, 2020}}{{cite book |author= |title=Moody's Manual of Railroads and Corporation Securities |url=https://books.google.com/books?id=18khAQAAIAAJ&dq=%22Electric+Storage+Battery+Company%22+%22General+Electric%22+%22patent+rights%22+%221894%22&pg=PA311 |publisher=Moody Manual Company |page=311 |date=1900 }}
In 1898, an Exide brand battery provided the submerged power for the USS Holland (SS-1), the first submarine commissioned in the US Navy. Electric Storage remained a significant supplier of US Navy submarine batteries at least through World War II. Isaac Rice, president of Electric Storage in 1899, was instrumental in founding the Electric Boat Company as a bailout of the Holland Torpedo Boat Company.{{Cite news|url=https://www.militaryfactory.com/ships/detail.asp?ship_id=USS-Holland-SS1|title=USS Holland (SS-1) Gas-Electric Attack Submarine - United States|access-date=August 22, 2018|language=en-US}}
=20th century=
In 1900, the Electric Storage Battery Company developed a product of greater capacity and less weight for electric taxicabs. This battery was the first to bear the name Exide, short for "Excellent Oxide".
In 1902, The Electric Storage Battery Co. formed Willard Storage Battery Co. when they acquired the battery-making assets of a jewelry manufacturer in Cleveland, OH and incorporated them. By 1950 Willard automotive batteries were outselling Exide automotive batteries although The Electric Storage Battery Co. was larger due to diversification.{{cite news |author= |title=In 62d Year--and Happy, Electrical Storage Battery Pushes Vigorous Program |page=28 a d |work=The Philadelphia Inquirer |location=Philadelphia, PA |date=March 27, 1950 }}
File:1919 Willard Service Station for battery-powered automobiles - Employees of the Washington Battery Co., 1623 L Street N.W., Washington, D.C. - National Photo Co. LCCN92520374 (cropped).jpg and employees of the Washington Battery Co., 1623 L Street N.W., Washington, D.C.]]
In 1911, Charles F. Kettering turned to the Electric Storage Battery Company for a suitable automotive battery to complement his new electric starter.{{Citation |last=Waltz |first=George H. |date=September 1951 |title=Bet I'm the toughest battery in town |journal=Popular Science |volume=159 |issue=3 |pages=110–113 |url=https://books.google.com/books?id=YyEDAAAAMBAJ&pg=RA1-PA11 |postscript=.}} This project yielded the first car battery of the modern type. (Within 5 years, there was a substantial field of aftermarket brands in storage batteries and starters for automobiles, as evidenced by the advertisements in automotive trade journals of the era.)
When the United States entered World War I, Exide batteries were used to operate airplane radio sets and power radio stations.
In 1920 the Electric Storage Battery Company purchased 40 acres of land in Crescentville, Philadelphia Pennsylvania to build a new plant at the estimated initial cost of two million US dollars.{{cite journal |author= |date=March 20, 1920 |title=Philadelphia Stocks - Electric Storage Battery Company |url=https://drive.google.com/file/d/1Z8BTkly17l9r5Ks8tlfHN1f3ENK6ryP6/view |journal=United States Investor |volume=582 |issue=30 |pages= |access-date=February 27, 2022 |oclc=2144191 |quote=The company announces having arranged for the purchase of 40 acres of land at Crescentville in the northeastern part of Philadelphia.}}{{cite journal |author= |date=1922 |title=The Electric Storage Battery Company |url=https://books.google.com/books?id=jZo9AQAAMAAJ |journal=Moody's Manual of Investments |volume=13 |issue=2 |pages=1527 |access-date=February 27, 2022 |quote=During 1920 company began construction of a new plant for the manufacture of electric starting and lighting devices for automobiles at Crescentville, Philadelphia, to cost when completed, $2,000,000.}}
In 1934 the Electric Storage Battery Company filed for the trademark Exide Ironclad and in 1935 their trademark was registered.{{cite web |url=https://trademarks.justia.com/owners/electric-storage-battery-company-the-2492/ |title=ELECTRIC STORAGE BATTERY COMPANY, THE Trademarks |author= |date=1934 |publisher=Justia |access-date=December 31, 2017 }}{{cite web |url=https://bizstanding.com/p/exide+ironclad-106144865 |title=EXIDE IRONCLAD (trademark) |publisher=Bizstanding |access-date=December 31, 2017 |quote=Owner: Electric Storage Battery Company, The, 19Th St. And Allegheny Ave., Philadelphia, PA}}
In 1938, the Electric Storage Battery Company acquired the Giant Storage Battery Company, and expanded into battery chargers and testers.
During World War II, the Electric Storage Battery Company was a major supplier of batteries for U.S. Navy submarines and primary contractor for batteries used in the Mark 18 electric torpedo.
The Electric Storage Battery Company entered the dry-cell battery industry in 1957 when it acquired the Ray-O-Vac Company, the then second-largest producer of dry-cell batteries in the US.{{cite news |author= |title=BATTERY MAKERS AGREE TO MERGE |url=https://www.nytimes.com/1957/11/20/archives/battery-makers-agree-to-merge-electric-storage-to-acquire-rayovac.html |work=The New York Times |location= |date=November 20, 1957 |access-date=March 7, 2021}}
File:London Transport RT Bus with Exide Advertisements.jpg
NASA used solar-charged, nickel-zinc Exide batteries on all of the Apollo program missions.{{cite web|url=http://www.exide.com/Media/files/The%20History%20of%20Exide%20Technologies.pdf|title=The History of Exide Technologies|access-date=February 20, 2016|archive-url=https://web.archive.org/web/20140309024622/http://www.exide.com/Media/files/The%20History%20of%20Exide%20Technologies.pdf|archive-date=March 9, 2014|url-status=dead|df=mdy-all}}
File:Thomas Edison's nickel–iron batteries.jpg
In 1967 The Electric Storage Battery Company was merged into ESB Incorporated.{{cite web |url=https://www.justice.gov/sites/default/files/pages/attachments/2014/08/04/cu-0770.pdf |title=FOREIGN CLAIMS SETTLEMENT COMMISSION OF THE UNITED STATES Claim No. CU-0770 |last=Re |first=Edward D. |date=October 18, 1967 |website=United States Department of Justice |access-date=March 7, 2021}}
In 1972, ESB Inc. acquired the Edison Storage Battery Company, which had developed a practical nickel-iron battery in 1901. The production of this type of battery was subsequently discontinued in 1975.{{cite book |last1=Garrison |first1=William |author-link1=William Garrison (geographer) |last2=Levinson |first2=David M. |author-link2=David M. Levinson |date=2014 |title=The Transportation Experience Policy, Planning, and Deployment |publisher=OUP USA |page=113 |isbn=9780199862719}}
From 1974 through 1978 ESB Inc. became Inco Electroenergy Corporation as the result of the first hostile takeover in the US.{{cite book |last=Madrick |first=Jeffrey G. |author-link=Jeff Madrick |date=2003 |title=Taking America - How We Got from the First Hostile Takeover to Megamergers, Corporate Raiding, and Scandal |publisher=Beard Books |isbn=9781587982170}}{{cite news |last=Wiggins |first=Phillip H. |date=December 15, 1981 |title= Why Inco Decided To Drop Batteries: Slump Key Factor|url=https://www.nytimes.com/1981/12/15/business/why-inco-decided-to-drop-batteries-slump-key-factor.html |work=New York Times |access-date=March 6, 2021}}{{cite web |url=https://www.csmonitor.com/1981/0120/012051.html |title=Eroding share of world nickel market deals a blow to Sudbury miners |author= |date=January 20, 1981 |publisher=The Christian Science Monitor. |access-date=March 6, 2021 |quote=ESB didn't join Inco until Jan. 31, 1978}} In 1983 Inco sold their Exide Corporation unit to the First Chicago Investment Corporation and principals of the Spectrum Group.{{cite web |url=http://getfilings.com/o0000950109-95-002565.html |title=Exide Corporation 10-K |author= |date=1995 |website=GetFilings.com |publisher=U.S. Securities and Exchange Commission |access-date=March 6, 2021 |quote=Principals of The Spectrum Group, Inc. ("Spectrum") and other investors acquired Exide from INCO in 1983}}{{cite news |author= |title=Inco Sells Exide |url=https://www.nytimes.com/1983/02/01/business/inco-sells-exide.html|work=The New York Times |date=February 1, 1983 |access-date=March 6, 2021}}
In 1987, Exide Corp. (doing business as Exide Technologies) acquired General Battery Corporation and moved the company headquarters to Reading, Pennsylvania.{{cite news|last=Spatz|first=Don|title=Battery Maker to Pay $27.5 Million Fine|url=https://news.google.com/newspapers?id=u_khAAAAIBAJ&pg=1055%2C4951540|newspaper=Reading Eagle|date=March 24, 2001|access-date=December 28, 2013}}
Exide became a publicly traded company in October 1993.{{cite news|last=Spatz|first=Don|title=Exide Goes Public With Stock Offering|url=https://news.google.com/newspapers?id=rfghAAAAIBAJ&pg=1648%2C376583|newspaper=Reading Eagle|date=November 3, 1993|access-date=December 28, 2013}}
Arthur M. Hawkins resigned as chairman and chief executive officer of Exide in October 1998.{{cite news|last1=White|first1=Gregory L.|last2=Sendler|first2=Emily R.|title=Exide Corp.'s Chairman, CEO Resigns; Earnings to Fall Far Short of Estimates|newspaper=The Wall Street Journal|date=October 19, 1998|id={{ProQuest|398659316}}}}
=21st century=
In 2000, Exide acquired GNB Technologies, a North American supplier of automotive batteries.
In 2002, Exide filed for bankruptcy after compiling a debt of $2.5 billion as a result of the recent acquisitions. In April 2004, a judge approved the company's plan to eliminate $1.3 billion in debt and exit bankruptcy protection by the end of the month{{cite news|url=https://www.nytimes.com/2004/04/17/business/company-news-exide-s-plan-to-cut-1.3-billion-in-debt-is-approved.html|title=COMPANY NEWS; EXIDE'S PLAN TO CUT $1.3 BILLION IN DEBT IS APPROVED|work=The New York Times|date=April 17, 2004}}
In April 2013, Exide closed its battery-recycling plant in Vernon, California (Los Angeles County).{{Cite news|url=http://www.scpr.org/news/2015/03/12/50323/vernon-based-exide-technologies-to-shut-down-perma/|title=Exide to shut down permanently under deal with US Attorney|last=Radio|first=Southern California Public|date=March 12, 2015|work=Southern California Public Radio|access-date=August 22, 2018}}
In June 2013, Exide again filed for Chapter 11 bankruptcy protection with the aim of cutting debt and implementing a restructuring plan (Exide Technologies, Case No. 13-11482, U.S. Bankruptcy Court, District of Delaware).
In April 2015, the company emerged from Chapter 11 bankruptcy protection, which reduced its debt by approximately $600 million.{{Cite news|url=https://globenewswire.com/news-release/2015/04/30/730980/10131906/en/Exide-Technologies-Emerges-From-Chapter-11-Restructuring.html|title=Exide Technologies Emerges From Chapter 11 Restructuring|last=Technologies|first=Exide|work=GlobeNewswire News Room|access-date=August 22, 2018|language=en-US}}
On May 20, 2015, the company announced the appointment of Victor M. (Vic) Koelsch, former executive vice president, Michelin North America, as president and chief executive officer of the company.{{Cite news|url=https://globenewswire.com/news-release/2015/05/20/737774/10135380/en/Exide-Technologies-Announces-Victor-M-Koelsch-Appointment-as-President-and-Chief-Executive-Officer.html|title=Exide Technologies Announces Victor M. Koelsch Appointment as President and Chief Executive Officer|last=Technologies|first=Exide|work=GlobeNewswire News Room|access-date=August 22, 2018|language=en-US}}
On May 24, 2017, Exide completed a series of financing transactions to fund growth and additional capacity.{{Cite news|url=http://www.batteriesinternational.com/2017/05/25/exide-to-raise-200-million-for-capital-projects/|title=Exide to raise $200 million for capital projects - Batteries International|date=May 25, 2017|work=Batteries International|access-date=August 22, 2018|language=en-GB}}
On October 25, 2017, Exide Technologies unveiled a $35 Million grid manufacturing facility in Kansas City, Missouri.{{cite web|url=http://www.supplychain247.com/article/exide_technologies_unveils_35_million_manufacturing_facility_in_kansas_city/Lift%20Trucks|title=Exide Technologies unveils $35 million manufacturing facility in Kansas City, Mo. - Supply Chain 24/7|last=Staff|first=MMH|website=www.supplychain247.com|language=en|access-date=August 22, 2018}}
On May 24, 2018, Exide expanded its motive power offering with acquisition of Aker Wade Power Technologies.{{cite web|url=https://www.bestmag.co.uk/content/exide-acquires-aker-wade-forge-motive-powerhouse|title=Exide acquires Aker Wade to forge motive powerhouse {{!}} www.bestmag.co.uk|website=www.bestmag.co.uk|date=June 2018|language=en|access-date=August 22, 2018}}
On November 14, 2018, Exide named Timothy D. Vargo, former president and CEO of AutoZone, President and chief executive officer of the company.{{Cite web|url=https://www.exide.com/en/leadership-announcement-Nov2018|title=Exide Technologies Names Timothy D. Vargo President and Chief Executive Officer {{!}} Exide|website=www.exide.com|access-date=2019-11-21|archive-date=June 6, 2019|archive-url=https://web.archive.org/web/20190606135218/https://www.exide.com/en/leadership-announcement-Nov2018|url-status=dead}} Tim is also chairman of the board.{{Cite web|url=https://www.linkedin.com/in/tim-vargo-24559611/|title=Tim Vargo|website=LinkedIn}}{{dead link|date=January 2020|bot=medic}}{{cbignore|bot=medic}}
Between January 10 and July 30, 2019, Exide appointed new leadership in its CIO, CLO, COO, CFO, and President EMEA positions.{{Cite web|url=https://www.exide.com/en/node/48681|title=Exide Technologies Names Brian Woodworth Senior Vice President and Chief Information Officer {{!}} Exide|website=www.exide.com|access-date=2019-11-21|archive-date=February 5, 2021|archive-url=https://web.archive.org/web/20210205073009/https://www.exide.com/en/node/48681|url-status=dead}}{{Cite web|url=https://www.exide.com/en/node/48931|title=Exide Technologies Names John J. Gasparovic Executive Vice President, Chief Legal Officer and Secretary {{!}} Exide|website=www.exide.com|access-date=2019-11-21|archive-date=February 5, 2021|archive-url=https://web.archive.org/web/20210205084240/https://www.exide.com/en/node/48931|url-status=dead}}{{Cite web|url=https://www.exide.com/en/node/49126|title=Exide Technologies Names Michael Judd Executive Vice President and Chief Operations Officer {{!}} Exide|website=www.exide.com|access-date=2019-11-21|archive-date=September 25, 2020|archive-url=https://web.archive.org/web/20200925170159/https://www.exide.com/en/node/49126|url-status=dead}}{{Cite web|url=https://www.exide.com/en/exide-promotes-lou-martinez-CFO|title=Exide Technologies Promotes Lou Martinez to Executive Vice President and Chief Financial Officer {{!}} Exide|website=www.exide.com|access-date=2019-11-21}}{{Dead link|date=April 2023 |bot=InternetArchiveBot |fix-attempted=yes }}{{Cite web|url=https://www.exide.com/en/node/48686|title=Exide Technologies Promotes Stefan Stübing to Executive Vice President and President, EMEA {{!}} Exide|website=www.exide.com|access-date=2019-11-21}}{{Dead link|date=April 2023 |bot=InternetArchiveBot |fix-attempted=yes }}
On April 2, 2019, Battery Systems, Inc. acquired Exide's branch network business and became the exclusive distributor of Exide-branded aftermarket transportation batteries.{{Cite web|url=https://www.exide.com/en/node/48951|title=Battery Systems, Inc. Acquires Exide's Branch Network Business {{!}} Exide|website=www.exide.com|access-date=2019-11-21}}{{Dead link|date=April 2023 |bot=InternetArchiveBot |fix-attempted=yes }}
On June 26, 2019, Exide completed a comprehensive new financing and recapitalization transaction which "enhanced the Company’s liquidity, extended debt maturities and deleveraged its balance sheet."{{Cite web|url=https://www.exide.com/en/exide-completes-new-financing-and-recapitalization|archive-url=https://web.archive.org/web/20200327134921/https://www.exide.com/en/exide-completes-new-financing-and-recapitalization|url-status=dead|archive-date=March 27, 2020|title=Exide Technologies Completes Comprehensive New Financing and Recapitalization {{!}} Exide|website=www.exide.com|access-date=2019-11-21}}
On May 19, 2020, Exide (and four subsidiaries) filed for Chapter 11 bankruptcy protection to facilitate the sale of its North American assets.{{Cite web|title=Exide Technologies Announces Comprehensive Strategy to Position Businesses for Long-Term Sustainable and Profitable Growth|url=https://www.prnewswire.com/news-releases/exide-technologies-announces-comprehensive-strategy-to-position-businesses-for-long-term-sustainable-and-profitable-growth-301061433.html|date=May 19, 2020|website=PR Newswire}} In July 2020, Exide sold certain North American assets to Atlas Holdings.{{Cite news|url=https://www.law360.com/articles/1295076/atlas-holdings-wins-exide-s-us-assets-with-179m-ch-11-bid|title=Atlas Holdings Wins Exide's US Assets With $179M Ch. 11 Bid|date=2020-07-24|access-date=2020-08-10}}
On August 25, 2020, Atlas Holdings launched standalone companies Stryten Manufacturing and Element Resources following its acquisition of substantially all the operating assets of the Americas business of Exide Technologies, LLC. The transaction completes a court-supervised sale process, pursuant to Section 363 of the U.S. Bankruptcy code.{{Cite web |url=https://stryten.com/atlas-establishes-stryten-manufacturing/ |title=Atlas Holdings Establishes Stryten Manufacturing Following Acquisition of Assets of Exide Technologies' Americas Business |access-date=February 27, 2022 |archive-date=October 8, 2020 |archive-url=https://web.archive.org/web/20201008004833/https://stryten.com/atlas-establishes-stryten-manufacturing/}}
On October 16, 2020, a federal bankruptcy court allowed Exide to divest itself of responsibilities for multiple waste sites including Exide's battery recycling plant in Vernon, CA, near Los Angeles.latimes.com/california/story/2020-10-16/exide-bankrtuptcy-decision-vernon-cleanup
In July 2024, Exide Technologies unveiled Solition Mega Three, the latest in their containerized energy storage series. {{Cite web |date=2024-07-05 |title=Exide Technologies unveiled innovative Energy Storage Solutions at ees Europe 2024 |url=https://news.cision.com/exide/r/exide-technologies-unveiled-innovative-energy-storage-solutions-at-ees-europe-2024,c4012122 |access-date=2024-09-30 |website=News Powered by Cision |language=en}}
Locations
Exide Technologies' global headquarters was located in Milton, Georgia. It had both manufacturing and recycling plants located throughout the U.S. and Europe. Exide Technologies's Headquarters is located in Gennevilliers, France. Exide operates in approximately 80 countries around the world.{{Cite web|url=https://www.exide.com/en/locations|title=Locations {{!}} Exide|website=www.exide.com|language=en|access-date=2018-10-22|archive-date=August 23, 2018|archive-url=https://web.archive.org/web/20180823042037/https://www.exide.com/en/locations|url-status=dead}}
Exide operates three R&D facilities including one in the U.S. (Milton, Georgia), and two in Europe (Büdingen, Germany and Azuqueca, Spain).
Exide operates seven manufacturing plants and three recycling plants in the U.S. In Europe, Exide operates ten manufacturing plants and three recycling facilities.{{Cite web|url=https://www.exide.com/en/locations?type=291|title=Locations {{!}} Exide|website=www.exide.com|language=en|access-date=2018-10-22|archive-date=October 22, 2018|archive-url=https://web.archive.org/web/20181022232736/https://www.exide.com/en/locations?type=291|url-status=dead}}
Exide maintains principal sales offices in Mexico City, São Paulo, Dubai, Shanghai, Hong Kong and Sydney.{{Cite web|url=https://www.exide.com/en/locations?type=296|title=Locations {{!}} Exide|website=www.exide.com|language=en|access-date=2018-10-22|archive-date=October 22, 2018|archive-url=https://web.archive.org/web/20181022232719/https://www.exide.com/en/locations?type=296|url-status=dead}}
Products
Exide produces batteries and accessories for the transportation market, including original-equipment and aftermarket products for auto/truck/SUV, heavy duty, lawn and garden, marine/RV, golf carts and power sport, using absorbed glass mat (AGM), flooded, enhanced flooded battery, and gel (VRLA) technologies. Exide also markets lithium-ion batteries for motorbikes in Europe.
Exide serves the industrial market with lead–acid and lithium-ion batteries{{Cite news|url=http://www.batteriesinternational.com/2018/04/12/exide-technologies-launches-lithium-battery/|title=Exide Technologies launches lithium battery - Batteries International|date=2018-04-12|work=Batteries International|access-date=2018-10-22|language=en-GB}} for motive power material handling (forklifts), railroad, mining and submarine applications.{{Cite news|url=https://www.ajc.com/news/local/north-fulton-company-awarded-75m-deal-make-batteries-for-navy/HPD4WawTtquv2fOnbdwiKP|title=North Fulton company awarded $75M deal to make batteries for Navy|work=ajc|access-date=2018-10-22}} Exide also provides chargers and fast chargers for material handling applications, as well as modeling and real time monitoring products. Exide produces energy storage for industrial network power markets including telecommunications, uninterruptible power supply (UPS), utilities, and solar energy, as well as for other critical backup needs.
Criticism and concerns
{{Further|Exide lead contamination}}
Exide was one of the world's largest producers, distributors and recyclers of lead-acid batteries.
As early as 1937 employees said that the Electric Storage Battery Company was negligent in protecting their workers.{{cite web |url=https://law.justia.com/cases/federal/appellate-courts/F2/98/815/1508243/ |title=Boal v. Electric Storage Battery Co. |last=Balka |first=Henry W. |date=August 25, 1938 |website=Justia US Law |publisher= US Court of Appeals for the Third Circuit |access-date=March 16, 2021 |quote=...the defendant was negligent: 1. in failing to warn him of this danger, 2. in failing to provide ventilating facilities, or 3. in failing to take any other precautionary measures for his safety.}} Since 2010, operations at seven Exide lead-acid battery plants have been linked to ambient airborne lead levels that posed a health risk to the environment and residents in communities and neighborhoods surrounding the Exide plants.{{cite news|url=https://www.latimes.com/local/la-xpm-2013-may-29-la-me-exide-pollute-20130530-story.html |title=Battery recycler Exide's problems aren't just local |work=Los Angeles Times |date=May 29, 2013 |access-date=October 15, 2018}}
Concerns have been raised about their environmental practices. Lead and other dangerous chemicals coming from Exide's plants have repeatedly polluted communities around the United States, triggering protests and extensive media coverage.{{Cite web|url=http://www.latimes.com/local/lanow/la-me-exide-cleanup-20180426-story.html|title=The Exide plant in Vernon closed 3 years ago. The vast majority of lead-contaminated properties remain uncleaned|last=Poston|first=Tony Barboza, Ben|website=Los Angeles Times|date=April 26, 2018|access-date=2018-09-19}}
In March 2001, Exide pleaded guilty to fraud conspiracy charges and agreed to pay a fine of $27.5 million to end a federal criminal investigation into auto battery sales to customers of Sears. The case arose from investigations and accusations that Exide conspired with Sears to sell used batteries as new to Sears customers and that Exide officials had paid bribes to conceal the fraud.{{cite news|url=https://www.nytimes.com/2001/03/24/business/exide-will-pay-27-million-in-fraud-case.html |title=Exide Will Pay $27 Million in Fraud Case |work=The New York Times |date=March 24, 2001 |access-date=October 15, 2018}} In 2002, two former top executives of Exide were sentenced to prison for their scheme to sell defective batteries to Sears. Former Exide president Douglas N. Pearson was sentenced to five years and four months in prison and ordered to pay a $150,000 fine. Pearson's accomplice, former Exide chief executive Arthur M. Hawkins, was sentenced to 10 years in prison and ordered to pay a $1 million fine. The two were convicted of wire fraud and conspiracy to commit wire fraud in a huge scheme to sell defective Exide batteries to Sears for its Die-hard battery line.{{cite web|url=http://www.michigansthumb.com/news/article/Ex-Exide-CEO-Sentenced-to-10-Years-7351677.php |title=Ex-Exide CEO Sentenced to 10 Years |work=Michigansthumb.com |date=December 19, 2002 |access-date=October 15, 2018}}
In 2008, it was reported that Exide was emitting two times the number of pollutants allowed into the environment at their secondary lead-acid battery smelter plant in Bristol, Tennessee.{{cite web|url=http://www.heraldcourier.com/news/focus-on-exide-s-pollution-too/article_df31f2ac-d121-5a51-937a-175fa9c63e21.html |title=Focus On Exide's Pollution, Too |work=heraldcourier.com |date=May 5, 2008 |access-date=October 15, 2018}}
In 2013, Exide was under federal criminal investigation for emitting high levels of harmful pollutants from its battery recycling plant in Vernon, California.{{cite news|author=Tony Barboza |url=http://www.latimes.com/science/la-me-0816-exide-feds-20140816-story.html |title=Federal grand jury investigating Exide Technologies over Vernon plant |work=Los Angeles Times |date=August 15, 2014 |access-date=October 15, 2018}} Hundreds of residents had complained for years about Exide's toxic emissions before state and federal agencies acted.{{cite news|url=http://www.latimes.com/local/lanow/85366771-132.html |title=Inside the fight to shut down a dangerous polluter |work=Los Angeles Times |date=December 21, 2015 |access-date=October 15, 2018}}
In fall 2017, the Department of Toxic Substances Control began to implement their plans to remove lead-contaminated soil from 2,500 residential properties near the closed Exide lead-acid battery plant in Vernon.{{cite web|author=Tony Barboza |url=http://www.latimes.com/local/lanow/la-me-ln-exide-cleanup-plan-20170706-story.html |title=State releases plan to clean lead contamination from 2,500 parcels near closed battery recycler Exide - Los Angeles Times |work=Los Angeles Times |date=July 6, 2017 |access-date=October 15, 2018}} It is believed to be the largest environmental cleanup effort of its kind in California history, encompassing seven Los Angeles County neighborhoods. California state regulators estimate that Exide's operations may have threatened the health of an estimated 100,000 people and 10,000 residential properties.{{cite news|url=http://www.latimes.com/local/california/la-me-ln-exide-what-we-know-20170806-htmlstory.html |title=What we know about California's largest toxic cleanup: Thousands of L.A. County homes tainted with lead |work=Los Angeles Times |date=August 6, 2017 |access-date=October 15, 2018}} A total of $192 million has been authorized by the state for the massive cleanup effort; $176.6 million of which was approved by Governor Jerry Brown in April 2016.
Sustainability and recycling
Exide is one of the largest secondary recyclers in the world, and one of few battery companies with the ability to provide Total Battery Management, also known as "closed loop recycling."{{Cite news|url=https://www.generalkinematics.com/blog/open-loop-vs-closed-loop-recycling/|title=Open-Loop vs Closed-Loop Recycling {{!}} General Kinematics|date=2018-03-27|work=General Kinematics|access-date=2018-09-19|language=en-US}} Closed loop recycling frees customers from the burden of handling spent batteries in their own facilities.{{Cite web|url=https://www.exide.com/en/sustainability-recycling|title=Sustainability & Recycling {{!}} Exide|website=www.exide.com|language=en|access-date=2018-10-22|archive-url=https://web.archive.org/web/20180823042018/https://www.exide.com/en/sustainability-recycling|archive-date=August 23, 2018|url-status=dead}}
Recycling recovers 99% of all lead received at Exide's recycling centers. Every year Exide recycles millions of pounds of lead and recovers and neutralizes millions of gallons of sulfuric acid.
In 2017 Exide Technologies recycled 35 million pounds of plastic in the United States alone, which was used to produce 13 million new batteries.{{Cite news|url=https://essentialenergyeveryday.com/lead-battery-recycling-helps-beat-plastic-pollution/|title=Lead Battery Recycling Helps Beat Plastic Pollution - Essential Energy Everyday|date=2018-06-04|work=Essential Energy Everyday|access-date=2018-10-22|language=en-US}}
Lead battery recycling is one of the best examples of a circular economy as recognized by the World Economic Forum.
Industry-wide, this “closed loop” process for recycling lead batteries keeps more than 1.7 million tons of lead batteries out of U.S. landfills annually.{{Cite news|url=https://essentialenergyeveryday.com/lead-batteries-infinite-recycling/)|title=Lead Batteries: Infinite Recycling and Beyond! - Essential Energy Everyday|date=2018-05-17|work=Essential Energy Everyday|access-date=2018-10-22|language=en-US}}
Exide Technologies is a contributing member of the [https://batteryinnovation.org/ Advanced Lead Acid Battery Consortium (ALABC)] and [https://essentialenergyeveryday.com/wp-content/uploads/2018/10/ANL-Lead-Battery-Science-Research-Program.pdf Lead Battery Research Working Group], formed by the North American lead battery industry with goals to advance technology, "undertake pre-competitive research to improve performance and longevity of lead batteries," and develop understanding of the crystal precipitation/dissolution process.{{Cite news|url=https://www.just-auto.com/news/alabc-members-collaborate-to-advance-lead-technology_id185834.aspx|title=ALABC members collaborate to advance lead technology|date=2018-11-27|access-date=2018-11-28|archive-date=November 2, 2019|archive-url=https://web.archive.org/web/20191102145958/https://www.just-auto.com/news/alabc-members-collaborate-to-advance-lead-technology_id185834.aspx|url-status=dead}}{{Cite web|url=https://batteryinnovation.org/membership/current-membership/|title=Consortium for Battery Innovation {{!}} » Current membership|language=en-US|access-date=2019-11-21}} Exide is also a member of [https://www.eurobat.org/ EUROBAT], an Association of European Automotive and Industrial Battery Manufacturers whose purpose is "to study all matters of interest to storage battery manufacturers and their sub-contractors in Europe, Middle East and Africa."{{Cite web|url=https://www.eurobat.org/about-eurobat|title=About Eurobat|website=www.eurobat.org|access-date=2019-11-21}}{{Cite web|url=https://www.eurobat.org/about-eurobat/members|title=Members|website=www.eurobat.org|access-date=2019-11-21}} Exide's president, CEO, and chairman, Timothy D. Vargo, is also a board member of [https://batterycouncil.org/ Battery Council International], "a not-for-profit trade association formed to promote the interests of the international battery industry."{{Cite web|url=https://batterycouncil.org/blogpost/1190989/331725/Meet-BCI-s-New-Board-Member-Timothy-Vargo-Chairman-President-and-CEO-Exide-Technologies?hhSearchTerms=%22exide%22&terms=|title=Meet BCI's New Board Member: Timothy Vargo, Chairman, President and CEO, Exide Technologies - Battery Council International|website=batterycouncil.org|access-date=2019-11-21}}{{Cite web|url=https://batterycouncil.org/page/ABOUTUS|title=About Us - Battery Council International|website=batterycouncil.org|access-date=2019-11-21}}
References
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|archive-date=January 29, 2017 |url-status=dead }}
Blair, Clay, Jr. Silent Victory (New York: Bantam, 1976), p.280.
External links
{{Commons category|Exide Technologies}}
- [http://webarchive.nationalarchives.gov.uk/20111202195250/http://competition-commission.org.uk/rep_pub/reports/1960_1969/025vehicles.htm Report on the Supply of Electrical Equipment for Mechanically Propelled land Vehicles], UK Board of Trade, Monopolies Commission, 1963. Chapter 4 goes into some history concerning Exide, Chloride and Dryex batteries.
- [https://cases.ra.kroll.com/Exide2020/ 2020 bankruptcy docket website]
Category:Consumer battery manufacturers
Category:Motor vehicle battery manufacturers
Category:Electric vehicle battery manufacturers
Category:Manufacturing companies based in Georgia (U.S. state)
Category:Companies based in Fulton County, Georgia
Category:Companies that filed for Chapter 11 bankruptcy in 2002
Category:Companies that filed for Chapter 11 bankruptcy in 2013
Category:Companies that filed for Chapter 11 bankruptcy in 2020
Category:Manufacturing companies established in 1888
Category:American companies established in 1888