ALPHARETTA, Ga., April 23, 2009 (GLOBE NEWSWIRE) -- Exide Technologies (Nasdaq:XIDE) (www.exide.com), a global leader in stored electrical-energy solutions, today announced a new, exclusive partnership with Phoenix-based Advanced Mobil Products, LLC (AMP, www.advancedmobil.com). AMP is developing a multi-national mobile battery replacement network of service providers within the United States and Canada.
According to the terms of the five year agreement, Exide will supply AMP lead-acid automotive starting batteries for the mobile replacement marketplace. In turn, AMP will focus on developing and growing strategic relationships with customers throughout the United States and Canada.
AMP will exclusively market the Exide(r) American(tm) lead-acid battery brand, a product now being reintroduced to the U.S. market. A premium automotive starting battery and a compliment to Exide's NASCAR Select(r) and NASCAR(r) Extreme(tm) product lines, Exide(r) American(tm) batteries deliver optimal performance in harshest of conditions and fit more than 90 percent of passenger vehicles on the road today. In Canada, AMP will market these same products to the mobile replacement marketplace under the ArcticEnergy(tm) battery brand name.
"AMP's philosophy is one that incorporates the best people, products and technology -- an approach to conducting business that fits extremely well with Exide's core values and forward-thinking strategy," said Bruce Cole, President of the Transportation Americas business division for Exide Technologies. "AMP's approach to the mobile battery replacement market is both dynamic and progressive. To that end, Exide believes AMP has the potential to become a market leader in this growing and strategically important marketplace segment."
Both Exide Technologies and John Semeniuk, President of AMP, have broad experience in the development and deployment of mobile battery programs, which gained popularity in North America in the mid 1990s when motorists came to realize the convenience of remote battery replacement - an alternative to taking vehicles to repair facilities for the same service.
"Currently, the mobile battery replacement market represents a relatively small percentage of batteries being sold in North America. But, with the changing landscape and our strategic partnership with Exide in place, AMP is well positioned to increase our business during the next several years," explained John Semeniuk, President of Advanced Mobil Products. "Our collaboration with Exide provides AMP the resources to succeed in this market. We look forward to a long and mutually beneficial relationship in serving an increasing number of motorists with premium products and services."
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 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, are available at www.exide.com.
The Exide Technologies logo is available athttp://www.globenewswire.com/newsroom/prs/?pkgid=5067
About Advanced Mobil Products
Advanced Mobil Products, based in Phoenix, Arizona is dedicated to creating strategic partnerships in the development and implementation of innovative mobile automotive products and services through real life automotive industry experience. Today they are simplifying the lives of the motoring public throughout the United States and Canada.
Further information about Advanced Mobil Products is available at www.advancedmobil.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 based on current liquidity 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 litigation proceedings to which the Company is subject, the results of which could have a material adverse effect on the Company and its business, (v) 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, (vi) competitiveness of the battery markets in North America and Europe, (vii) risks involved in foreign operations such as disruption of markets, changes in import and export laws, currency restrictions, currency exchange rate fluctuations and possible terrorist attacks against U.S. interests, (viii) general economic conditions, (ix) the ability to acquire goods and services and/or fulfill labor needs at budgeted costs, (x) the Company's reliance on a single supplier for its polyethylene battery separators, (xi) the Company's ability to successfully pass along increased material costs to its customers, (xii) the loss of one or more of the Company's major customers for its industrial and transportation products; (xiii) the ability of the Company's customers to pay for products and services in light of liquidity constraints resulting from global economic conditions and restrictive credit markets.
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 filed on June 9, 2008 and its quarterly reports on Form 10-Q filed on August 8, 2008, November 6, 2008 and February 4, 2009, 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.