Exide requests court approval of $7.54 million trading credits sale

By Caroline Salls

Pittsburgh, April 6 – Exide Technologies requested court approval of the proposed $7.54 million sale of some of its NOx and SOx emission reduction trading credits to Koch Supply & Trading LP, according to a Monday filing with the U.S. Bankruptcy Court for the District of Delaware.

Specifically, the credits being sold include two single-year trades of 65,366 pounds and 68,366 pounds, respectively, and an infinite-year block trade of 70,866 pounds nitrogen oxide Regional Clean Air Incentives Market (Reclaim) emissions reduction trading credits and two single-year trades of 82,846 pounds and an infinite-year block trade of 82,996 pounds sulfur oxide Reclaim emissions reduction trading credits.

Exide said the amounts being sold are also subject to confirmation and approval by South Coast Air Quality Management District.

A brokerage fee of $264,029 will be deducted from the total purchase price, according to the motion.

The company has requested an April 20 hearing.

Exide Technologies, a Milton, Ga.-based maker and recycler of lead-acid batteries, filed for bankruptcy on June 10, 2013. Its Chapter 11 case number is 13-11482.

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