Exide, Texas City Reach Agreement on Battery Recycling Plant

Exide Technologies, based in Frisco, Tex., and the City of Frisco have jointly proposed an agreement that would result in the sale of about 180 acres of undeveloped land surrounding Exide's Frisco operations. Under terms of the agreement, the land, which consists of the current buffer zone around Exide's battery recycling plant, will be sold to the Frisco Community Development Corp. and the Frisco Economic Development Commission Corp. for $45 million.

Exide Technologies will retain ownership of the federal and state permitted plant site. As part of the proposed agreement, Exide would cease business operations in Frisco by the end of 2012. The company will assume responsibility for cleaning up the permitted plant site, including the removal of all vertical structures with the exception of an administrative office building and wastewater treatment plant. The company will maintain the vacated plant site in accordance with EPA and Texas Commission on Environmental Quality (TCEQ) regulations.

"This agreement was a difficult one to make as Exide is committed to its employees and continuing to provide the critically important environmental service of recycling spent lead-acid batteries. However, this agreement makes the most sense for both Exide and the City of Frisco to move forward," says Jim Bolch, Exide CEO and president.

"I want to thank our loyal and hardworking employees who have continued to remain dedicated to Exide and the valuable service we provided throughout the years. As we work through this process we will provide our employees with all the necessary support and career guidance," Bolch adds.

"Exide has been a good corporate citizen of Frisco for more than four decades. This agreement recognizes that Frisco has changed from a rural community of about 1,100 people into one of the fastest-growing, most dynamic cities in the nation, with a current population of more than 125,000 people. This is a good business decision for Frisco that ensures a positive outcome for the city, Exide and protects the public as well as private investment around our central business district for years to come," says Frisco City Manager George Purefoy.