The Bristol Herald Courier is reporting that a $34.3 million grant from the federal stimulus package is expected to bring 120 jobs to Exide, which laid off nearly 600 workers earlier this year.
Company officials said the grant will help Exide's efforts to research and manufacture lead-acid batteries for use in hybrid vehicles.
The grant was part of a $2.4 billion funding package designed to spur new battery research announced by President Barack Obama last week.
“Despite the current economic situation, we believe this area of investment can be expected to yield significant investments, including job creation, energy savings, and an association with both advanced technology and environmental sustainability,” Exide President and CEO Gordon Ulsh said in a news release about the grant.
This beefed-up production is expected to result in 120 new jobs at Exide’s Bristol plant and another 200 at its plant in Columbus, Ga., the news release states.
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