Exide files for Ch. 11 in challenging market

Jun 10, 2013 | 05:24 PM | Nathan Laliberte

Tags  Exide Technologies, batteries, Chapter 11 bankruptcy protection

NEW YORK — Exide Technologies Inc., a leading producer and recycler of lead-acid batteries, has filed for Chapter 11 bankruptcy protection, listing assets of about $1.89 billion and liabilities of about $1.14 billion.
The Milton, Ga.-based company’s 20 largest creditors hold unsecured claims in excess of $71 million, according to documents filed June 10 in U.S. Bankruptcy Court in Delaware. Some of the largest unsecured creditors listed in the petition are metals companies, including Fort Smith, Ark.-based Copperfab Inc. and Lancaster, N.Y.-based Seibel Modern Mfg & Welding Corp. Neither company immediately returned calls for comment. ....

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