Exide Agrees To $67.5M Settlement With EPA, NOAA

By Evan Weinberger (April 6, 2011, 5:47 PM EDT) -- Battery maker Exide Technologies on Friday agreed to pay environmental regulators $67.5 million in stock and warrants to cover cleanup costs at 23 sites around the U.S., resolving the largest remaining claim from its 2002 bankruptcy filing.

The settlement, filed in the U.S. Bankruptcy Court for the District of Delaware, resolves a claim of approximately $800 million lodged in 2003 by the U.S. Environmental Protection Agency and the National Oceanic and Atmospheric Administration under the Comprehensive Environmental Response, Compensation and Liability Act for the response costs at 21 Superfund sites and two natural resource damages sites.

The sites encompassed in the...

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