Exide Receives Order From California Department Of Toxic Substances Control Regarding Its Vernon, CA Facility
VERNON, Calif., April 25, 2013 (GLOBE NEWSWIRE) -- Exide Technologies (Nasdaq:XIDE) is suspending operations at its Vernon secondary lead recycling facility in compliance with an Order dated April 24, 2013 from the California Department of Toxic Substances Control (DTSC). The DTSC alleges that the Company's underground stormwater system is not in compliance with State of California requirements and alleges the Company's furnace emissions are not meeting applicable DTSC health risk standards.
The Company will comply with the Order from the DTSC and is suspending operations in Vernon while evaluating its legal and regulatory remedies. At this time the Company does not know how long the suspension of operations at the Vernon facility will last. The Vernon facility provides a significant portion of the Company's domestic lead requirements.
Exide currently operates two other active secondary lead recycling facilities in the U.S. which continue to supply lead for the Company's domestic manufacturing facilities. Exide is evaluating its ability to purchase lead on the open market as well as seeking to negotiate agreements with third-party lead recyclers to provide some or all of the internal lead requirements that would have been provided from the Vernon facility.About Exide Technologies Exide Technologies, with operations in more than 80 countries, is one of the world's largest producers and recyclers of lead-acid batteries. The Company's four global business groups – Transportation Americas, Transportation Europe and Rest of World, Industrial Energy Americas and Industrial Energy Europe and Rest of World – provide a comprehensive range of stored electrical energy products and services for industrial and transportation applications. Transportation markets include original-equipment and aftermarket automotive, heavy-duty truck, agricultural and marine applications, and new technologies for hybrid vehicles and automotive applications. Industrial markets include network power applications such as telecommunications systems, electric utilities, railroads, photovoltaic (solar-power related) and uninterruptible power supply (UPS), and motive-power applications including lift trucks, mining and other commercial vehicles.
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