Exide Technologies Follow-up

Exide Technologies Follow-up

On March 12, 2015, Exide Technologies announced that it will permanently close its lead-acid battery recycling facility in Vernon, CA under the terms of a non-prosecution agreement reached with the USAO for the Central District of California.  The agreement resolves the criminal investigation into Exide.  Additionally, Exide has also entered into an agreement with the California Department of Toxic Substances Control for the closure and cleanup of the facility.

Exide will need to get the approval of the Bankruptcy Court for the agreements and the closure.  The hearing is scheduled for March 27, 2015.

More later.

As always, feel free to contact me at walter.james@jamespllc.com.

WDJiii

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