Exide customer move may hurt Transportation Americas unit projections

By Caroline Salls

Pittsburgh, Nov. 19 – Exide Technologies said one of its largest customers by volume plans to transition its relationship to a new third-party vendor over the next several months, according to an 8-K filed with the Securities and Exchange Commission.

The company said the move may have a negative effect on financial results portrayed in proposed projections for its Transportation Americas business unit.

According to the 8-K, Exide is evaluating the effect of the customer’s decision on the plan of reorganization and related disclosure statement it filed on Monday and on the proposed financial projections.

Exide Technologies, a Milton, Ga.-based maker and recycler of lead-acid batteries, filed for bankruptcy on June 10, 2013 in the U.S. Bankruptcy Court for the District of Delaware. Its Chapter 11 case number is 13-11482.

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