Also Forms Element Resources, an Independent Recycling Company and Tolling Partner for the Battery Industry
GREENWICH, Conn.–(BUSINESS WIRE)–Atlas Holdings today announced the launch of 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.
The newly formed Stryten Manufacturing, www.stryten.com, headquartered in Milton, Georgia, is a leading provider of innovative energy storage solutions. The company combines more than 130 years of experience manufacturing high-quality, top-performing batteries with deep industry expertise, providing the marketplace with smart power solutions to keep people and industry moving every day. Stryten operates seven manufacturing plants strategically positioned across the United States to serve the evolving needs of its customers and partners. Stryten Manufacturing will be led by Tim Vargo, Chief Executive Officer and Mike Judd, President and Chief Operating Officer.
Also launched today is Element Resources, which owns and operates recycling plants in Canon Hollow, Missouri and Muncie, Indiana. These facilities provide environmentally responsible recycling services to Stryten Manufacturing and other battery manufacturers.
“We are thrilled to officially launch Stryten Manufacturing with our new colleagues at Atlas Holdings,” said Tim Vargo, CEO of Stryten. “Atlas is the ideal partner for us as they believe in growing and strengthening manufacturing companies for the long-term. They provide us with stability, unique operational expertise and a shared commitment to superior customer service. Together with Atlas, we’ll start today in writing the next great chapter for our company.”
“Stryten Manufacturing and Element Resources are well-positioned for a very strong future, led by teams of experienced leaders and dedicated associates, and we are very pleased to welcome them all to the Atlas Family,” said Jacob Hudson, Managing Partner of Atlas Holdings. “With the successful conclusion of the 363 sale process, they can now concentrate on doing what they do best – delivering innovative and reliable power solutions to a broad range of blue-chip customers.”
Stryten Manufacturing supplies car, truck, SUV, marine and lawn and garden battery needs for large consumer retail companies and battery distribution partners. The company’s GNB Industrial Power business underpins critical supply chains with motive power batteries and power management solutions for forklift manufacturers and operators in material handling applications, as well as railroad transportation companies. GNB network power batteries serve the uninterruptible power supply (UPS) and back-up energy storage needs of telecommunications and utility providers. For more than a century, GNB has also proudly provided the U.S. Navy submarine fleet with state-of-the-art battery systems.
About Stryten Manufacturing
Stryten Manufacturing, www.stryten.com, is a leading provider of stored electrical-energy solutions for the Transportation and Industrial markets. Headquartered in Milton, Georgia, the company operates transportation plants in Salina, Kansas, Manchester, Iowa and industrial facilities in Ft. Smith, Arkansas, Kansas City, Kansas, and Charlottesville, Virginia. Its manufacturing plants are located Kansas City, Missouri, and Lampeter, Pennsylvania. These locations produce a comprehensive portfolio of battery and energy storage systems and specialty applications for the Transportation, Network Power and Motive Power markets. Also served are industries such as agricultural, automotive, heavy-duty truck, marine, materials handling, military, mining, railroad, security, telecommunications, utility and uninterruptible power supply (UPS), among others.
About Element Resources
Element Resources is one of the nation’s largest secondary recyclers of lead batteries used to power Transportation and Industrial market applications. With recycling plants located in Canon Hollow, Missouri, and Muncie, Indiana, Element Resources is committed to operating in an environmentally responsible way to ensure more than 16 million lead batteries are safely recycled each year, contributing the sustainability of the lead battery industry.
About Atlas Holdings
Headquartered in Greenwich, Connecticut and founded in 2002, Atlas and its affiliates own and operate 21 platform companies, which employ approximately 22,000 associates at more than 150 facilities worldwide. Atlas operates in sectors such as aluminum processing, automotive, building materials, capital equipment, construction services, food manufacturing and distribution, packaging, paper, power generation, pulp, supply chain management and wood products. Atlas’ companies together generate more than 6 billion dollars in revenues annually. For additional information, please visit www.atlasholdingsllc.com.
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