MILTON, Ga. – Exide Technologies announced that is has retained the advisory firm Lazard to advise the company on financing alternatives "to maximize the value of the company for all stakeholders." Exide stated it does not anticipate making any further announcements regarding its review until the process is complete. Lazard is a leading financial adviser and investment bank.
With operations in more than 80 countries, Exide 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.
The company expects that fiscal 2013 fourth quarter free cash flow will be approximately $50 million, exceeding prior guidance of $30 million, with total liquidity (cash and availability under credit lines) at March 31, 2013 of greater than $230 million.
