U.S. battery maker Exide Technologies filed for Chapter 11 bankruptcy protection early on Monday, court documents showed, with the aim of cutting debt and implementing a restructuring plan to better compete in the market.

Exide estimated liabilities and assets of more than $1 billion dollars, according to the court filing.

The company said the Chapter 11 filing applies to the U.S. parent only.

The case is Exide Technologies, Case No. 13-11482, U.S. Bankruptcy Court, District of Delaware.

(Reporting by Sakthi Prasad in Bangalore; Editing by David Holmes)