Sharechat Logo

Exide Technologies to close NZ's only battery recycling plant

Wednesday 15th February 2012 2 Comments

Text too small?

Exide Technologies, which operates the country’s only battery recycling plant, will close its Petone centre at the end of next March, shedding 40 local jobs at the plant.

The closure comes after Exide failed in its bid last year to overturn a Ministry of Economic Development decision granting export recycling permits to send used batteries to developing nations like the Philippines and Korea. At the time, Exide said it was missing out on customers because of the export permits.

“As a result of the New Zealand Court of Appeal’s decision to permit the continued and unlimited export of used lead-acid batteries from New Zealand, we have concluded that it is necessary to close our facility,” John Cowpe, managing director of Exide Australasia said in a statement. “Without a sufficient amount of raw material coming into the facility, we are unable to effectively and profitably operate the business.”

A limited number of employees will temporarily remain at the plant to ensure proper closure and maintenance of the facility. Exide is working with the Wellington City Council to ensure that all appropriate environmental requirements are met through the decommissioning process.

“We are disappointed with the court’s decision and the negative impact on the citizens of New Zealand who no longer have a recycling facility in their country,” Cowpe said.

In August, Exide announced it would sue Power and Environment Minister Nick Smith for granting the export permits and failing under its international obligations to limit the global transport of hazardous waste. It’s unclear whether they are proceeding with that action.

Exide’s profit plunged by 72 percent to $2.1 million in the 12 months ended March 31 2011. It lost more than $18 million of annual revenue, with sales of $52.1 million in the period.


Bond Offer: Infratil Ltd, 7.2 year & 10.2 year unsecured unsubordinated bond

  General Finance Advertising    

Comments from our readers

On 15 February 2012 at 5:41 pm Tony smith said:
Its about time NZ Goverment crew some balls and delt with whats good for the people of nz instead of making continual stuff up,s leaving hard working kiwi,s on the dole line.
On 15 February 2012 at 6:05 pm Don said:
Law of inintended consequences plays out here. Oh well we will just export our rubbish & the jobs that go with it to Asia, a very familiar pattern in the developed economies.
Add your comment:
Your name:
Your email:
Not displayed to the public
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

NZ dollar mixed, buffeted by Fed talk and downunder data
Super Fund can expect lower returns over next decade - review
ANALYSIS: Should penalties for continuous disclosure breaches be relaxed?
Fletcher seeks urgent talks on Ihumatao stalemate
NZ economy grows 0.5% in June quarter, beating expectations
Restaurant Brands lifts 2Q sales; appetite for KFC offsets ditched Starbucks
Auckland jet fuel arrangements a potential barrier to new entrants
NZ dollar weaker after Fed split on outlook for further US cuts
Leading judge says court administration model 'outdated'
MARKET CLOSE: NZ shares fall; Goodman placement sees property stocks sold

IRG See IRG research reports