Exide Technologies’ former EMEA and Asia-Pacific business now operates as a standalone company under new owners. Today, the battery manufacturer announced the closing of the deal, successfully concluding its separation from the Exide Holdings Inc. in the U.S. and the transfer of its entire business to a group of long-term shareholders, under the U.S.-based Energy Technologies Holdings LLC. As part of this transaction, the business received further multi-million-dollar funding from the new investors.
The new Exide, headquartered near Paris, France, is a leading provider of advanced energy solutions for the automotive and industrial markets. The company employs more than 5,000 staff members across Europe, the Middle East, Asia, and Australia. Exide says it is committed to high-quality engineering, manufacturing and recycling, and continues to innovate according to customers’ evolving energy storage needs. The company has two R&D facilities and 11 production plants in Europe.
Exide Technologies is managed by a highly dedicated and experienced executive team, led by Stefan Stübing, former president EMEA & APAC, newly appointed as resident, CEO and director.
The shareholders also announced the appointment of Joe Hinrichs as chairman of the board of directors. Hinrichs recently retired as the president of Ford Motor Company’s global automotive business. He is bringing extensive global automotive and technology expertise and will be a strong contributor to Exide’s future success.
“Now, as a standalone, we are more agile. It will allow us to react even faster to the wishes of our customers and requirements of the market,” said Stübing. “The new owners represent a group of Exide’s long-term noteholders and know us well, thereby demonstrating their continued commitment to our success.”
“I am impressed by Exide’s growth trajectory, loyal customer base, and talented employees,” said Hinrichs. “Together, we are confident in Exide’s capability to deliver consistent growth and profitability by bringing to market innovative energy storage technologies to benefit our customers.”
As an original equipment manufacturer to leading European vehicle and equipment manufacturers, Exide has been involved in many of the significant breakthrough energy-storage developments that are enabling innovation across the markets. 5G, e-mobility, sustainability, digitization, and urbanization will be the challenges of the coming years. The new Exide will meet them with continual innovation to power the world with the most efficient energy solutions and helping customers maximize productivity and performance.