Exide was originally a brand name for batteries produced by The Electric Storage Battery Company and later became Exide Corporation doing business as Exide Technologies, an American multinationallead-acid batteries manufacturing company. It manufactures automotive batteries and industrial batteries. It is based in Milton, Georgia, United States.
Electric Storage Battery Company advertisement for Exide batteries in the journal Horseless Age, 1918.
Exide's predecessor corporation was the Electric Storage Battery Company, founded by William Warren Gibbs in 1888. Gibbs purchased the ideas and patents of inventor Clement Payen to make the storage battery a commercial product. Gibbs targeted electric lighting companies so they could use the storage batteries to provide services to their customers.[2][3][4][5]
In 1893 The Electric Storage Battery Company was producing lead chloride accumulators for stabilizing electric grids.[6] Nine years later there were 220 accumulator installations in service enabling electric street rail.[7]
Advertisement for Electric Storage Battery Company 1897
W. W. Gibbs, president of the Electric Storage Battery Company, stated on the night of Sunday December 16, 1894 that the company had consummated the day before in New York the purchase of all patents and patent rights concerning the manufacture and use of electric storage batteries of the General Electric Company, the Edison company, the Thomson-Houston, the Brush, the Accumulator company, the Consolidated Electric Storage Company and the General Electric Launch Company. Mr. Gibbs asserted that this secured to the Electric Storage Battery Company the sole right to supply this country electric storage batteries of all the various types heretofore developed, as well as the protection of every decision thus far rendered by the federal courts in the interpretation of patents of this kind.[8][9][10][11][12]
In 1898, an Exide brand battery provided the submerged power for the USS Holland (SS-1), the first submarine commissioned in the US Navy. Electric Storage remained a significant supplier of US Navysubmarine batteries at least through World War II. Isaac Rice, president of Electric Storage in 1899, was instrumental in founding the Electric Boat Company as a bailout of the Holland Torpedo Boat Company.[13]
In 1900, the Electric Storage Battery Company developed a product of greater capacity and less weight for electric taxicabs. This battery was the first to bear the name Exide, short for "Excellent Oxide".[2]
An Exide Nickel Cadmium battery
In 1902, The Electric Storage Battery Co. formed Willard Storage Battery Co. when they acquired the battery-making assets of a jewelry manufacturer in Cleveland, OH and incorporated them. By 1950 Willard automotive batteries were outselling Exide automotive batteries although The Electric Storage Battery Co. was larger due to diversification.[14]
1919 Willard Service Station for battery-powered automobiles and employees of the Washington Battery Co., 1623 L Street N.W., Washington, D.C.
In 1911, Charles F. Kettering turned to the Electric Storage Battery Company for a suitable automotive battery to complement his new electric starter.[15] This project yielded the first car battery of the modern type.[15] (Within 5 years, there was a substantial field of aftermarket brands in storage batteries and starters for automobiles, as evidenced by the advertisements in automotive trade journals of the era.)
When the United States entered World War I, Exide batteries were used to operate airplane radio sets and power radio stations.
In 1920 the Electric Storage Battery Company purchased 40 acres of land in Crescentville, Philadelphia Pennsylvania to build a new plant at the estimated initial cost of two million US dollars.[16][17]
In 1934 the Electric Storage Battery Company filed for the trademark Exide Ironclad and in 1935 their trademark was registered.[18][19]
In 1938, the Electric Storage Battery Company acquired the Giant Storage Battery Company, and expanded into battery chargers and testers.[2]
The Electric Storage Battery Company entered the dry-cell battery industry in 1957 when it acquired the Ray-O-Vac Company, the then second-largest producer of dry-cell batteries in the US.[21]
London Transport RT Bus with 1950/60s period Exide Advertisements
NASA used solar-charged, nickel-zinc Exide batteries on all of the Apollo program missions.[22]
Nickel-iron batteries, originally developed in 1901 by Thomas Edison, manufactured between 1972 and 1975[citation needed] under the "Exide" brand.
In 1967 The Electric Storage Battery Company was merged into ESB Incorporated.[23] From 1974 through 1978 ESB Inc. became Inco Electroenergy Corporation as the result of the first hostile takeover in the US.[24][25][26] In 1983 Inco sold their Exide Corporation unit to the First Chicago Investment Corporation and principals of the Spectrum Group.[27][28]
In 1987, Exide Corp. (doing business as Exide Technologies) acquired General Battery Corporation and moved the company headquarters to Reading, Pennsylvania.[2][30]
Exide became a publicly traded company in October 1993.[31]
Arthur M. Hawkins resigned as chairman and chief executive officer of Exide in October 1998.[32]
In 2000, Exide acquired GNB Technologies, a North American supplier of automotive batteries.[2]
In 2002, Exide filed for bankruptcy after compiling a debt of $2.5 billion as a result of the recent acquisitions.[33] In April 2004, a judge approved the company's plan to eliminate $1.3 billion in debt and exit bankruptcy protection by the end of the month[34]
In April 2013, Exide closed its battery-recycling plant in Vernon, California (Los Angeles County).[35]
In June 2013, Exide again filed for Chapter 11 bankruptcy protection with the aim of cutting debt and implementing a restructuring plan (Exide Technologies, Case No. 13-11482, U.S. Bankruptcy Court, District of Delaware).
In April 2015, the company emerged from Chapter 11 bankruptcy protection, which reduced its debt by approximately $600 million.[36]
On May 20, 2015, the company announced the appointment of Victor M. (Vic) Koelsch, former executive vice president, Michelin North America, as president and chief executive officer of the company.[37]
On May 24, 2017, Exide completed a series of financing transactions to fund growth and additional capacity.[38]
On October 25, 2017, Exide Technologies unveiled a $35 Million grid manufacturing facility in Kansas City, Missouri.[39]
On May 24, 2018, Exide expanded its motive power offering with acquisition of Aker Wade Power Technologies.[40]
On November 14, 2018, Exide named Timothy D. Vargo, former president and CEO of AutoZone, President and chief executive officer of the company.[41] Tim is also chairman of the board.[42]
Between January 10 and July 30, 2019, Exide appointed new leadership in its CIO, CLO, COO, CFO, and President EMEA positions.[43][44][45][46][47]
On April 2, 2019, Battery Systems, Inc. acquired Exide's branch network business and became the exclusive distributor of Exide-branded aftermarket transportation batteries.[48]
On June 26, 2019, Exide completed a comprehensive new financing and recapitalization transaction which "enhanced the Company’s liquidity, extended debt maturities and deleveraged its balance sheet."[49]
On May 19, 2020, Exide (and four subsidiaries) filed for Chapter 11 bankruptcy protection to facilitate the sale of its North American assets.[50] In July 2020, Exide sold certain North American assets to Atlas Holdings.[51]
On August 25, 2020, Atlas Holdings launched standalone companies Stryten Manufacturing and Element Resources following its acquisition of substantially all the operating assets of the Americas business of Exide Technologies, LLC. The transaction completes a court-supervised sale process, pursuant to Section 363 of the U.S. Bankruptcy code.[52]
On October 16, 2020, a federal bankruptcy court allowed Exide to divest itself of responsibilities for multiple waste sites including Exide's battery recycling plant in Vernon, CA, near Los Angeles.[53]
Locations
Exide Technologies' global headquarters is located in Milton, Georgia. It has both manufacturing and recycling plants located throughout the U.S. and Europe. Exide's European Headquarters is located in Gennevilliers, France. Exide operates in approximately 80 countries around the world.[54]
Exide operates seven manufacturing plants and three recycling plants in the U.S. In Europe, Exide operates ten manufacturing plants and three recycling facilities.[55]
Exide produces batteries and accessories for the transportation market, including original-equipment and aftermarket products for auto/truck/SUV, heavy duty, lawn and garden, marine/RV, golf carts and power sport, using absorbed glass mat (AGM), flooded, enhanced flooded battery, and gel (VRLA) technologies. Exide also markets lithium-ion batteries for motorbikes in Europe.
Exide serves the industrial market with lead–acid and lithium-ion batteries[57] for motive power material handling (forklifts), railroad, mining and submarine applications.[58] Exide also provides chargers and fast chargers for material handling applications, as well as modeling and real time monitoring products. Exide produces energy storage for industrial network power markets including telecommunications, uninterruptible power supply (UPS), utilities, and solar energy, as well as for other critical backup needs.
Exide is one of the world's largest producers, distributors and recyclers of lead-acid batteries.
As early as 1937 employees said that the Electric Storage Battery Company was negligent in protecting their workers.[59] Since 2010, operations at seven Exide lead-acid battery plants have been linked to ambient airborne lead levels that posed a health risk to the environment and residents in communities and neighborhoods surrounding the Exide plants.[60]
Exide has been the subject of much controversy regarding environmental practices in the past. Lead and other dangerous chemicals coming from Exide's plants have repeatedly polluted communities around the United States, triggering protests and extensive media coverage.[61]
In March 2001, Exide pleaded guilty to fraud conspiracy charges and agreed to pay a fine of $27.5 million to end a federal criminal investigation into auto battery sales to customers of Sears. The case arose from investigations and accusations that Exide conspired with Sears to sell used batteries as new to Sears customers and that Exide officials had paid bribes to conceal the fraud.[62] In 2002, two former top executives of Exide were sentenced to prison for their scheme to sell defective batteries to Sears. Former Exide president Douglas N. Pearson was sentenced to five years and four months in prison and ordered to pay a $150,000 fine. Pearson's accomplice, former Exide chief executive Arthur M. Hawkins, was sentenced to 10 years in prison and ordered to pay a $1 million fine. The two were convicted of wire fraud and conspiracy to commit wire fraud in a huge scheme to sell defective Exide batteries to Sears for its Die-hard battery line.[63]
In 2008, it was reported that Exide was emitting two times the number of pollutants allowed into the environment at their secondary lead-acid battery smelter plant in Bristol, Tennessee.[64]
In 2013, Exide was under federal criminal investigation for emitting high levels of harmful pollutants from its battery recycling plant in Vernon, California.[65] Hundreds of residents had complained for years about Exide's toxic emissions before state and federal agencies acted.[66]
In fall 2017, the Department of Toxic Substances Control began to implement their plans to remove lead-contaminated soil from 2,500 residential properties near the closed Exide lead-acid battery plant in Vernon.[67] It is believed to be the largest environmental cleanup effort of its kind in California history, encompassing seven Los Angeles County neighborhoods. California state regulators estimate that Exide's operations may have threatened the health of an estimated 100,000 people and 10,000 residential properties.[68] A total of $192 million has been authorized by the state for the massive cleanup effort; $176.6 million of which was approved by Governor Jerry Brown in April 2016.[68]
Sustainability and recycling
Exide is one of the largest secondary recyclers in the world, and one of few battery companies with the ability to provide Total Battery Management, also known as "closed loop recycling."[69] Closed loop recycling frees customers from the burden of handling spent batteries in their own facilities.[70]
Heavy duty transportation battery from the Exide website
Recycling recovers 99% of all lead received at Exide's recycling centers. Every year Exide recycles millions of pounds of lead and recovers and neutralizes millions of gallons of sulfuric acid.[70]
In 2017 Exide Technologies recycled 35 million pounds of plastic in the United States alone, which was used to produce 13 million new batteries.[71]
Industry-wide, this “closed loop” process for recycling lead batteries keeps more than 1.7 million tons of lead batteries out of U.S.landfills annually.[72]
Exide Technologies is a contributing member of the Advanced Lead Acid Battery Consortium (ALABC) and Lead Battery Research Working Group, formed by the North American lead battery industry with goals to advance technology, "undertake pre-competitive research to improve performance and longevity of lead batteries," and develop understanding of the crystal precipitation/dissolution process.[73][74] Exide is also a member of EUROBAT, an Association of European Automotive and Industrial Battery Manufacturers whose purpose is "to study all matters of interest to storage battery manufacturers and their sub-contractors in Europe, Middle East and Africa."[75][76] Exide's president, CEO, and chairman, Timothy D. Vargo, is also a board member of Battery Council International, "a not-for-profit trade association formed to promote the interests of the international battery industry."[77][78]
^"IMPORTANT ELECTRIC TRANSACTION - All Patents and Patent Rights of Electric Storage Batteries Bought Up in New York by One Company". Buffalo Evening News. December 17, 1894.
^"A Big Electric Monopoly". The Wilmington daily Republican. Wilmington, Del. December 17, 1894. Retrieved November 3, 2020.
^"Philadelphia Stocks - Electric Storage Battery Company". United States Investor. 582 (30). March 20, 1920. OCLC2144191. Retrieved February 27, 2022. The company announces having arranged for the purchase of 40 acres of land at Crescentville in the northeastern part of Philadelphia.
^"The Electric Storage Battery Company". Moody's Manual of Investments. 13 (2): 1527. 1922. Retrieved February 27, 2022. During 1920 company began construction of a new plant for the manufacture of electric starting and lighting devices for automobiles at Crescentville, Philadelphia, to cost when completed, $2,000,000.
^"EXIDE IRONCLAD (trademark)". Bizstanding. Retrieved December 31, 2017. Owner: Electric Storage Battery Company, The, 19Th St. And Allegheny Ave., Philadelphia, PA
^Blair, Clay, Jr. Silent Victory (New York: Bantam, 1976), p.280.
^Madrick, Jeffrey G. (2003). Taking America - How We Got from the First Hostile Takeover to Megamergers, Corporate Raiding, and Scandal. Beard Books. ISBN9781587982170.
^"Exide Corporation 10-K". GetFilings.com. U.S. Securities and Exchange Commission. 1995. Retrieved March 6, 2021. Principals of The Spectrum Group, Inc. ("Spectrum") and other investors acquired Exide from INCO in 1983
^"Inco Sells Exide". The New York Times. February 1, 1983. Retrieved March 6, 2021.
^White, Gregory L.; Sendler, Emily R. (October 19, 1998). "Exide Corp.'s Chairman, CEO Resigns; Earnings to Fall Far Short of Estimates". The Wall Street Journal. ProQuest398659316.
^Balka, Henry W. (August 25, 1938). "Boal v. Electric Storage Battery Co". Justia US Law. US Court of Appeals for the Third Circuit. Retrieved March 16, 2021. ...the defendant was negligent: 1. in failing to warn him of this danger, 2. in failing to provide ventilating facilities, or 3. in failing to take any other precautionary measures for his safety.
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