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Exide Technologies and City of Frisco Reach Tentative Agreement 5-31-12

Exide Technologies and City of Frisco Reach Tentative Agreement 5-31-12

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Published by Robert Wilonsky

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Published by: Robert Wilonsky on May 31, 2012
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05/31/2012

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 N E W S R E L E A S E
FOR IMMEDIATE RELEASEMEDIA CONTACTS: INVESTOR CONTACT
Susan Jaramillo Carol KniesVice President, Communications Sr. Director, Investor RelationsExide Technologies Exide Technologies203/699-9133 phone 678/566-9316 phonesusan.jaramillo@exide.comcarol.knies@exide.comDana BairdDirector, CommunicationsCity of Frisco(972) 292-5080dbaird@friscotexas.gov 
EXIDE TECHNOLOGIES AND CITY OF FRISCO REACH TENTATIVEAGREEMENT REGARDING EXIDE’S FRISCO OPERATIONSFRISCO, Texas, May 31, 2012
– Exide Technologies (NASDAQ: XIDE,www.exide.com) and the City of Frisco announced today a proposed agreement thatwould result in the sale of approximately 180-acres of undeveloped land surroundingExide’s Frisco Operations Under the terms of the agreement, the land, which consists of the current buffer zone around Exide’s plant, will be sold to the Frisco CommunityDevelopment Corporation and the Frisco Economic Development CommissionCorporation for $45 million.Exide Technologies will retain ownership of the federal and state permitted plant site. Aspart of the proposed agreement, Exide would cease business operations in Frisco no laterthan December 31, 2012. Exide will assume responsibility for cleaning up the permittedplant site, including removal of all vertical structures with the exception of anadministrative office building and wastewater treatment plant. The company willmaintain the vacated plant site in accordance with EPA and Texas Commission onEnvironmental Quality (TCEQ) regulations.“This agreement was a difficult one to make as Exide is committed to its employees andcontinuing to provide the critically important environmental service of recycling spentlead-acid batteries. However, this agreement makes the most sense for both Exide and theCity of Frisco to move forward,” said Jim Bolch, Exide CEO and President. “I want to

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