Battery Co. Settles Ill. Cleanup Claims For $1.3M

Law360, New York (March 8, 2011, 6:07 PM EST) -- A bankruptcy judge on Tuesday approved a $1.3 million settlement between lead-acid battery manufacturer and recycler Exide Technologies Inc. and several claimants who sought contributions for lead pollution cleanup at a Granite City, Ill., Superfund site.

Judge Kevin Carey of the U.S. Bankruptcy Court for the District of Delaware approved Exide's request to pay out $1.3 million in stock and warrants for stock to Alcatel-Lucent, Johnson Controls Inc. and Honeywell International Inc. to settle their claims over cleanup of the NL Industries-Taracorp site.

The claimants are...
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