Replies to post #2338 on Exide Technologies fka EXTC

[Ahmed2012]

you said that exide needs to fix the issues they have related to frisco plant or sell it, but I fould this in the quarterly report:

• Successful closure and sale of the Company’s Frisco, Texas facility for anticipated net proceeds of approximately $25.0 million to $30.0 million ;


In June 2012, the Company announced an agreement to sell approximately 180 acres of undeveloped land surrounding the Company’s Frisco, Texas recycling facility. The Company believes the sale, which is subject to certain pre-closing actions, will provide cash proceeds, after deducting closure related costs, of approximately $25.0 million to $30.0 million . The buyer has fully funded an escrow account with the purchase price, a portion of which is currently available to the Company for certain demolition and remediation activities related to the parcel
of property being sold. At the request of regulators and others, the Company will allow interested parties to provide input on pre-closure remedial activities, which may include one or more notice and comment periods. Accordingly, the Company currently believes that the cash proceeds will be received in fiscal 2015. Under the Company's indenture for the senior secured notes, these proceeds are required to be invested in future U.S.