The story
Founded by William Warren Gibbs in 1888.1
19th century
Exide's predecessor corporation was the Electric Storage Battery Company, founded by William Warren Gibbs in 1888. Gibbs purchased the ideas and patents of inventor Clement Payen to make the storage battery a commercial product. Gibbs targeted electric lighting companies so they could use the storage batteries to provide services to their customers.
In 1893 The Electric Storage Battery Company was producing lead chloride accumulators for stabilizing electric grids. Nine years later there were 220 accumulator installations in service enabling electric street rail.
W. W. Gibbs, president of the Electric Storage Battery Company, stated on the night of Sunday December 16, 1894 that the company had consummated the day before in New York the purchase of all patents and patent rights concerning the manufacture and use of electric storage batteries of the General Electric Company, the Edison company, the Thomson-Houston, the Brush, the Accumulator company, the Consolidated Electric Storage Company and the General Electric Launch Company. Mr. Gibbs asserted that this secured to the Electric Storage Battery Company the sole right to supply this country electric storage batteries of all the various types heretofore developed, as well as the protection of every decision thus far rendered by the federal courts in the interpretation of patents of this kind.
In 1898, an Exide brand battery provided the submerged power for the USS Holland (SS-1), the first submarine commissioned in the US Navy. Electric Storage remained a significant supplier of US Navy submarine batteries at least through World War II. Isaac Rice, president of Electric Storage in 1899, was instrumental in founding the Electric Boat Company as a bailout of the Holland Torpedo Boat Company.
20th century
In 1900, the Electric Storage Battery Company developed a product of greater capacity and less weight for electric taxicabs. This battery was the first to bear the name Exide, short for "Excellent Oxide".
In 1902, The Electric Storage Battery Co. formed Willard Storage Battery Co. when they acquired the battery-making assets of a jewelry manufacturer in Cleveland, OH and incorporated them. By 1950 Willard automotive batteries were outselling Exide automotive batteries although The Electric Storage Battery Co. was larger due to diversification.
In 1911, Charles F. Kettering turned to the Electric Storage Battery Company for a suitable automotive battery to complement his new electric starter. This project yielded the first car battery of the modern type. (Within 5 years, there was a substantial field of aftermarket brands in storage batteries and starters for automobiles, as evidenced by the advertisements in automotive trade journals of the era.)
When the United States entered World War I, Exide batteries were used to operate airplane radio sets and power radio stations.
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In 1920 the Electric Storage Battery Company purchased 40 acres of land in Crescentville, Philadelphia Pennsylvania to build a new plant at the estimated initial cost of two million US dollars.
In 1934 the Electric Storage Battery Company filed for the trademark Exide Ironclad and in 1935 their trademark was registered.
In 1938, the Electric Storage Battery Company acquired the Giant Storage Battery Company, and expanded into battery chargers and testers.
During World War II, the Electric Storage Battery Company was a major supplier of batteries for U.S. Navy submarines and primary contractor for batteries used in the Mark 18 electric torpedo.
The Electric Storage Battery Company entered the dry-cell battery industry in 1957 when it acquired the Ray-O-Vac Company, the then second-largest producer of dry-cell batteries in the US.
NASA used solar-charged, nickel-zinc Exide batteries on all of the Apollo program missions.
In 1967 The Electric Storage Battery Company was merged into ESB Incorporated.
In 1972, ESB Inc. acquired the Edison Storage Battery Company, which had developed a practical nickel-iron battery in 1901. The production of this type of battery was subsequently discontinued in 1975.
From 1974 through 1978 ESB Inc. became Inco Electroenergy Corporation as the result of the first hostile takeover in the US. In 1983 Inco sold their Exide Corporation unit to the First Chicago Investment Corporation and principals of the Spectrum Group.
In 1987, Exide Corp. (doing business as Exide Technologies) acquired General Battery Corporation and moved the company headquarters to Reading, Pennsylvania.
Exide became a publicly traded company in October 1993.
Arthur M. Hawkins resigned as chairman and chief executive officer of Exide in October 1998.
21st century
In 2000, Exide acquired GNB Technologies, a North American supplier of automotive batteries.
In 2002, Exide filed for bankruptcy after compiling a debt of $2.5 billion as a result of the recent acquisitions. In April 2004, a judge approved the company's plan to eliminate $1.3 billion in debt and exit bankruptcy protection by the end of the month
In April 2013, Exide closed its battery-recycling plant in Vernon, California (Los Angeles County).
In June 2013, Exide again filed for Chapter 11 bankruptcy protection with the aim of cutting debt and implementing a restructuring plan (Exide Technologies, Case No. 13-11482, U.S. Bankruptcy Court, District of Delaware).
In April 2015, the company emerged from Chapter 11 bankruptcy protection, which reduced its debt by approximately $600 million.
On May 20, 2015, the company announced the appointment of Victor M. (Vic) Koelsch, former executive vice president, Michelin North America, as president and chief executive officer of the company.
On May 24, 2017, Exide completed a series of financing transactions to fund growth and additional capacity.
On October 25, 2017, Exide Technologies unveiled a $35 Million grid manufacturing facility in Kansas City, Missouri.
On May 24, 2018, Exide expanded its motive power offering with acquisition of Aker Wade Power Technologies.
On November 14, 2018, Exide named Timothy D. Vargo, former president and CEO of AutoZone, President and chief executive officer of the company. Tim is also chairman of the board.
Between January 10 and July 30, 2019, Exide appointed new leadership in its CIO, CLO, COO, CFO, and President EMEA positions.
On April 2, 2019, Battery Systems, Inc. acquired Exide's branch network business and became the exclusive distributor of Exide-branded aftermarket transportation batteries.
On June 26, 2019, Exide completed a comprehensive new financing and recapitalization transaction which "enhanced the Company’s liquidity, extended debt maturities and deleveraged its balance sheet."
On May 19, 2020, Exide (and four subsidiaries) filed for Chapter 11 bankruptcy protection to facilitate the sale of its North American assets. In July 2020, Exide sold certain North American assets to Atlas Holdings.
On August 25, 2020, Atlas Holdings launched standalone companies Stryten Manufacturing and Element Resources following its acquisition of substantially all the operating assets of the Americas business of Exide Technologies, LLC. The transaction completes a court-supervised sale process, pursuant to Section 363 of the U.S. Bankruptcy code.
On October 16, 2020, a federal bankruptcy court allowed Exide to divest itself of responsibilities for multiple waste sites including Exide's battery recycling plant in Vernon, CA, near Los Angeles.
In July 2024, Exide Technologies unveiled Solition Mega Three, the latest in their containerized energy storage series.
In 2025, Exide Technologies announced that the Fulmen Commercial Vehicle battery line and other developments would be showcased at the Equip Auto Trade Fair in Paris.
From Wikipedia’s article on Exide, shared under CC BY-SA 4.0.5