Atlas Holdings Establishes Stryten Manufacturing Following Acquisition of Assets of Exide Technologies’ Americas Business

Also Forms Element Resources, an Independent Recycling Company and Tolling Partner for the Battery Industry

GREENWICH, Conn. — 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.