Exide (XIDE) Signs Battery Licensing Deal with Honeywell (HON)

Shares of battery maker Exide Technologies (XIDE) gained 8% in pre-market trading Friday, the highest intraday PPS since May 4,  after the company said it signed a licensing deal to make batteries using Honeywell International Inc.’s (HON) Autolite trademark for auto, lawn and garden, marine and power-sports applications in the U.S., Canada, and Mexico.

“The Exide Transportation team in North America embraces the opportunity to help broaden our customer reach as a result of our new alliance with Honeywell,” said in a statement Bruce Cole, President — Transportation Americas for Exide Technologies. “Today, there are no active mass market distributors of Autolite(R) batteries, although the brand is strong on spark plugs and numerous other aftermarket replacement parts. Together, Exide and Honeywell look to deliver leading lead-acid batteries to the domestic aftermarket from a trusted source.”

XIDE gained $0.16, or 2.97%, to $5.55 rtq at 11:44 E.T. in Nasdaq composite trading. Honeywell lost 44 cents, or 1.07 percent, to $40.82.

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About Ari Haruni 137 Articles
Ari Haruni is the Co-Founder & CEO of Wall Street Pit.

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