October 27, 2020 (Gennevilliers, France) – Exide Technologies’ former EMEA and Asia- Pacific business now operates as a standalone company under new owners. Today, the battery manufacturer announced the ‘closing of the deal’, successfully concluding its separation from the Exide Holdings, Inc. in the US and the transfer of its entire business to a group of long-term shareholders, under the US-based Energy Technologies Holdings LLC. As part of this transaction, the business received further multi-million-dollar funding from the new investors.
The new Exide, headquartered near Paris, France, is a leading provider of advanced energy solutions for the automotive and industrial markets. The company’s more than 5,000 employees across Europe, the Middle East, Asia, and Australia serve the global markets with best in class products & services under several well-known brands. With two R&D facilities and eleven production plants in Europe, Exide is committed to high-quality engineering, manufacturing and recycling, and continues to innovate according to customers’ evolving energy storage needs.
Exide Technologies is managed by a highly dedicated and experienced executive team, led by Stefan Stübing, former President EMEA & APAC and newly appointed President, Chief Executive Officer and Director.
The shareholders also announced the appointment of Joe Hinrichs as Chairman of the Board of Directors. Joe recently retired as the President of Ford Motor Company’s global automotive business. He is bringing extensive global automotive and technology expertise and will be a strong contributor to Exide’s future success.
“Now, as a standalone, we are more agile. It will allow us to react even faster to the wishes of our customers and requirements of the market”, says Stefan Stübing, CEO. “The new owners represent a group of Exide’s long-term noteholders and know us well, thereby demonstrating their continued commitment to our success.”
“I am impressed by Exide’s growth trajectory, loyal customer base, and talented employees”, says Joe Hinrichs, Chairman of the Board of Directors. ”Together, we are confident in Exide’s capability to deliver consistent growth and profitability by bringing to market innovative energy storage technologies to benefit our customers.”
Automotive, Motive Power, and Network Power – Exide is well positioned in the three businesses. As an original-equipment manufacturer to leading European vehicle and equipment manufacturers, Exide has been involved in many of the significant breakthrough energy-storage developments that are enabling innovation across the markets. 5G, e-mobility, sustainability, digitization, and urbanization will be the challenges of the coming years. The new Exide will meet them with continual innovation to power the world with the most efficient energy solutions and helping customers maximize productivity and performance.
About Exide Technologies
Exide Technologies, headquartered near Paris, France, is a leading provider of advanced energy storage solutions for the automotive and industrial markets. It designs, manufactures and markets today´s and next-generation battery technologies used across a wide range of applications, from automotive and off-road to material handling, stationary, rail and defense. Exide Technologies serves the global markets with top-notch battery technologies, know-how & added-value services under many well-known brands. As an original equipment manufacturer to leading automotive and industrial equipment manufacturers, Exide Technologies has been involved in many of the significant breakthrough energy-storage developments that are enabling innovation across the markets. With two R&D facilities and eleven production plants in Europe, Exide is committed to high-quality engineering, manufacturing and recycling, and continues to power the world with the most efficient energy solutions and helping customers maximize productivity and performance. In the fiscal year 2020, Exide achieved a turnover of 1.4 billion EUR.
About Joe Hinrichs
Joe Hinrichs retired as President of Ford Motor Company’s global automotive business in March, 2020. His Ford career included roles as President of Global Operations, President of North America & South America, President of Asia Pacific & Africa, Chairman & CEO of Ford China, and head of Global Manufacturing & Labor Affairs. Hinrichs was named the top Operations Executive in the global automotive industry by Automotive News and KPMG for 2019. Prior to Ford he was a Partner at private equity group Ryan Enterprises LLC and spent ten years at General Motors in various engineering and manufacturing leadership roles. Hinrichs currently also serves on the board of directors of technology startup WaveSense LLC and previously served on the board of Rivian Automotive LLC. Hinrichs has an electrical engineering degree magna cum laude from the University of Dayton and an MBA from Harvard Business School.