Exide Sells Start/Alternator Business

July 09, 2000 by Jeff Shepard

Exide Corp. (Reading, PA) announced that it has sold its remanufactured starter and alternator business to a private investment group formed by Laurian Capital Corp. (Chicago, IL) and Sure Start Management (Cooper, TX), for total consideration of $8.0 million, of which $3.0 million was cash at closing. Proceeds from the sale will be used to reduce debt.