Exide Technologies (NYSE: EX – news) announced today that it has sold its 13.5 percent interest in Yuasa Inc. for $29.9 million. The company expects to report a pre-tax gain of approximately $13.0 million on the sale of the investment in its third fiscal quarter. Proceeds from the sale will be used to reduce debt.
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Industrial applications include network power batteries for telecommunications
systems, fuel cell load leveling, electric utilities, railroads, photovoltaic
and other critical uninterruptible power supply markets; and motive power batteries
for a broad range of equipment uses including lift trucks, mining and other
commercial vehicles.
