ALPHARETTA, Ga., May 29, 2008 (PRIME NEWSWIRE) -- Exide Technologies (Nasdaq:XIDE) (www.exide.com), a global leader in stored electrical-energy solutions, announced today that its Industrial Energy Division in Europe has secured two new military contracts. The new affiliations include an expansion of the Company's alliance with the German Federal Office of Defense Technology and Procurement (BWB) for battery supply to the German Army and a submarine battery contract with The Royal Netherlands Navy.
In conjunction with the BWB, the contract calls for Exide to supply approximately 9,600 NBB 248(tm) maintenance-free NATO bloc batteries to the German Army for military-vehicle applications, including the Leopard 2 Tank. These 12 V/100-ampere-hour GEL(tm) batteries will be manufactured at Exide's Industrial Energy manufacturing plant in Budingen, Germany, and shipped during 2008.
The BWB, the largest technical authority in Germany, is responsible for ensuring that the Federal Office of the Bundeswehr for Information Management and Information Technology (IT-AmtBw) is equipped with state-of-the-art technology and equipment. This is Exide's third contract with the BWB since 2007.
In addition, the Royal Netherlands Navy has awarded Exide a new contract for the supply of one of the Company's HAGEN(tm) branded lead-acid batteries that will serve as the main source of propulsion power for a Walrus-class submarine. The new order will be ready for shipment to the Royal Netherlands Navy later in 2008. Exide's HAGEN(tm) submarine batteries, an industry-leading brand for more than 40 years, are manufactured at the Company's Industrial Energy manufacturing facility in Bad Lauterberg, Germany. This contract is Exide's second with the Royal Netherlands Navy since 2005.
"Exide has a strong history as a bloc battery supplier for military-vehicle applications in GEL(tm) technology and also enjoys a leading reputation as a supplier of submarine batteries," said Joel Campbell President - Industrial Energy Europe for Exide Technologies. "These two new contracts give our Company the opportunity to build on already strong relationships, providing advanced product technology, superior quality and reliability to meet demanding applications."
(XIDE-C)
About Exide Technologies
Exide Technologies, with operations in more than 80 countries, is one of the world's largest producers and recyclers of lead-acid batteries. The Company's four global business groups -- Transportation Americas, Transportation Europe and Rest of World, Industrial Energy Americas and Industrial Energy Europe and Rest of World -- provide a comprehensive range of stored electrical energy products and services for industrial and transportation applications.
Transportation markets include original-equipment and aftermarket automotive, heavy-duty truck, agricultural and marine applications, and new technologies for hybrid vehicles and 42-volt automotive applications. Industrial markets include network power applications such as telecommunications systems, electric utilities, railroads, photovoltaic (solar-power related) and uninterruptible power supply (UPS), and motive-power applications including lift trucks, mining and other commercial vehicles.
Further information about Exide, including its financial results, is available at www.exide.com.
Forward-Looking Statements
Except for historical information, this press release may be deemed to contain "forward-looking" statements. The Company desires to avail itself of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 (the "Act") and is including this cautionary statement for the express purpose of availing itself of the protection afforded by the Act. The Company undertakes no obligation to publicly update or revise any forward-looking statement in this or any prior forward-looking statements whether as a result of new information, future developments or otherwise.
Examples of forward-looking statements include, but are not limited to, (a) projections of revenues, cost of raw materials, income or loss, earnings or loss per share, capital expenditures, growth prospects, dividends, the effect of currency translations, capital structure and other financial items, (b) statements of plans and objectives of the Company or its management or Board of Directors, including the introduction of new products, or estimates or predictions of actions by customers, suppliers, competitors or regulating authorities, (c) statements of future economic performance and (d) statements of assumptions, such as the prevailing weather conditions in the Company's market areas, underlying other statements and statements about the Company or its business.
Factors that could cause actual results to differ materially from these forward-looking statements include, but are not limited to, the following general factors such as: (i) the Company's ability to implement and fund business strategies and restructuring plans, (ii) unseasonable weather (warm winters and cool summers) which adversely affects demand for automotive and some industrial batteries, (iii) the Company's substantial debt and debt service requirements which may restrict the Company's operational and financial flexibility, as well as imposing significant interest and financing costs, (iv) the fact that lead, a major constituent in most of the Company's products, experiences significant fluctuations in market price and is a hazardous material that may give rise to costly environmental and safety claims, (v) competitiveness of the battery markets in North America and Europe, (vi) the Company's exposure to fluctuations in interest rates on its variable debt, (vii) general economic conditions, (viii) the ability to acquire goods and services and/or fulfill labor needs at budgeted costs, (ix) the Company's reliance on a single supplier for its polyethylene battery separators, and (x) the Company's ability to successfully pass along increased material costs to its customers.
Therefore, the Company cautions each reader of this press release carefully to consider those factors set forth above and those factors described in the Company's Annual Report on Form 10-K for the fiscal year 2007 and its most recent interim report filed with the SEC because such factors have, in some instances, affected and in the future could affect, the ability of the Company to achieve its projected results and may cause actual results to differ materially from those expressed herein.