Exide Technologies fka EXTC

[BaGr]

Exide Technologies Jon Bauer’s Contrarian Capital Management Bought New Stake

05/11/2015 BY OCTASTAFF IN SEC 13G & 13D FILINGS
Jon Bauer’s Contrarian Capital Management. New Position in Exide Technologies

Contrarian Capital Management. has filled a SC 13G form regarding Exide Technologies . Per Jon Bauer’s Contrarian Capital Management.’s filing, the filler now owns 12.17% of the company, holding 1,022,384 shares.

Exide Technologies is a newly disclosed equity position for the hedge fund and the filing was required due to activity on April 30, 2015. This most probably shows Jon Bauer’s Contrarian Capital Management.’s confidence and optimism in the future of the company. As a hedge fund with $4.20 billion AUM and 53+ professional employees, we have no reason to doubt they didn’t do their homework before buying such a stake.

The hedge fund has been active in the Finance sector recently. In the fund’s latest 13F, it revealed several positions. This sector is 22% of Jon Bauer’s Contrarian Capital Management.’s US equities portfolio.

Company Profile

Exide Technologies is engaged in stored electrical energy solutions, and is a manufacturer and supplier of lead-acid batteries for transportation and industrial applications across the world. Exide operates in four business segments: Transportation Americas, Transportation Europe and ROW, Industrial Energy Americas, and Industrial Energy Europe and ROW. The Company’s transportation batteries include starting lighting and ignition (SLI) batteries for cars, trucks, off-road vehicles, agricultural and construction vehicles, motorcycles, recreational vehicles, marine and other applications including Micro-hybrids. The Company’s Industrial Energy segments supply both motive power and network power applications. Motive power batteries are used in the material handling industry for electric forklift trucks, and in other industries, including floor cleaning machinery, powered wheelchairs, railroad locomotives, mining, and the electric road vehicles market.

Form 13G is used when the filer owns between 5% and 20% of the company and plans to hold it only as a passive investor. If the filler intend to exert control and if the stake’s size exceeds 20%, then a 13D must be filed. Therefore, activist investors and practices such as: hostile takeovers, company breakups, and other “change of control” events, are not permitted by 13G filers.

Tagged: Exide Technologies


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