March 13, 2012
Columbus, GA., March 13, 2012 – Exide Technologies (NASDAQ: XIDE), a global leader in stored electrical energy, today unveiled its newest battery technology and a state-of-the-art manufacturing operation at its Columbus, Georgia facility.
Exide® Edge™ Absorbed Glass Mat batteries feature SureLife™ Graphite Technology designed to maximize available energy capacity – helping batteries perform at higher levels longer. At 2x longer life versus conventional flooded batteries, Exide Edge provides more protection against battery failure, helping vehicles stay strong and perform like new. Exide Edge will begin shipping to aftermarket retailers March 19 for use in today’s cars, trucks, and SUVs.
Exide expanded its manufacturing facility to produce the new battery, bringing new jobs and making a significant investment at its Columbus location.
"This is an exciting announcement for our company, because it signals a great new product for our customers in the Americas and is the result of understanding our customers’ needs and designing a solution,” said Jim Bolch, president and CEO of Exide Technologies. "We have been making batteries in Columbus since 1963, and we are proud that this tradition continues. The launch of our Edge AGM product extends the good work we have done in Columbus to our newest advanced battery technology.”
The expanded operation means new jobs for Columbus and Georgia. The facility anticipates employing approximately 250 people when it reaches full production early in 2013. Already, 60 new jobs have been added to Exide's Columbus payroll, which currently totals 145 employees.
The Columbus plant is Exide’s first AGM automotive battery operation in the U.S. and becomes a “truly integrated battery manufacturing facility," making transportation and industrial batteries at the same location, according to Paul Hirt, President, Exide Americas.
The new advanced manufacturing operation is a part of a broader $70 million production expansion project for Exide. This investment has been supported in part by $34.3 million in U.S. Department of Energy (DOE) funding through the American Recovery and Reinvestment Act (ARRA of 2009).
"AGM's innovation and technology is a response to market demands and customer needs for changes in automobiles," Hirt said. "Exide's AGM batteries form one of the most complete lines in the industry and provides customers with the ability to serve today’s active families and busy professionals, from minivans to SUV’s, sedans and trucks to boats and RV’s."
AGM battery's advanced technology
The Exide Edge AGM battery's advanced technology is the perfect solution for car, truck, boat and RV owners to have a battery with a longer-life thus reducing the need for replacement. The Edge battery is also poised to play an active role in strategic market segments. Exide is currently working with auto manufacturers in North America to feature AGM batteries in new vehicles as well as those being produced with start-stop technology.
"Charge acceptance and longer life are the best benefits of the AGM battery," said Dr. Paul Cheeseman, Exide’s Vice President, Global Engineering and Research. "The Edge technology benefits today’s mainstream vehicles and tomorrow’s hybrid vehicles. And we will continue to innovate with AGM and graphite technology."
Dr. Cheeseman added that Exide has already been providing batteries for start-stop vehicles throughout Europe since 2009 and recently produced its 2.5 millionth battery for these applications.
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.
The Exide Technologies logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=5067
Except for historical information, this news 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.
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, and (c) statements of future economic performance.
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 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, (ii) the Company’s ability to implement and fund business strategies based on current liquidity, (iii) the Company’s ability to realize anticipated efficiencies and avoid additional unanticipated costs related to its restructuring activities, (iv) the cyclical nature of the industries in which the Company operates and the impact of current adverse economic conditions on those industries, (v) unseasonable weather (warm winters and cool summers) which adversely affects demand for automotive and some industrial batteries, (vi) competitiveness of the battery markets in the Americas and Europe, (vii) the ability to acquire goods and services and/or fulfill later needs at budgeted costs, (viii) general economic conditions, (ix) the Company’s ability to successfully pass along increased material costs to its customers, and (xvi) those risk factors described in the Company’s fiscal 2011 Form 10-K filed on June 1, 2011 and the Company’s Quarterly Report on Form 10-Q for the period ended December 31, 2011 filed on February 9, 2012.
The Company cautions each reader of this news release to carefully consider those factors set forth above. 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.
Vice President, Corporate Communications
Senior Director of Investor Relations
Exide Technologies. All Rights Reserved.
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