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Exide Technologies Tennessee
Facility To Produce Batteries For Ford Motor Company
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Alpharetta, Ga. – (April 27, 2006) –
Exide Technologies (NASDAQ: XIDE, www.exide.com)
a global leader in stored electrical-energy
solutions, announced today that its Bristol,
Tennessee, facility has been approved by
Ford Motor Company to produce
original-equipment batteries for a number of
different passenger vehicles.
The Bristol alliance with Ford is part of
Exide’s global plan to position its
manufacturing capacities more closely with
anticipated needs of markets the Company serves.
Exide’s Bristol facility will manufacture
automotive batteries to be installed in select
Ford, Mercury and Mazda vehicles. The models
include the Ford Crown Victoria, E-Series
full-size passenger and utility van, Escape,
Freestyle Crossover vehicle, Focus, Five
Hundred, the F-Series full-size pickup trucks,
Taurus, Mercury Grand Marquis, Mariner, Montego
and the Mazda Tribute.
The batteries manufactured in Bristol will be
supplied to Ford Motor Company assembly plants
located in Atlanta, Georgia; Avon Lake, Ohio;
Chicago, Illinois; Dearborn, Michigan; Kansas
City, Missouri; Norfolk, Virginia; and Wayne,
Michigan.
“Exide has been a proud Ford partner for more
than 30 years, and our continued relationship is
a result of Exide’s drive to achieve consistent,
world-class excellence in product and process
quality,” said Gordon A. Ulsh, President and
Chief Executive Officer of Exide Technologies.
“In the evolving landscape of transportation
battery technology, the Bristol facility plays a
leading role as Exide’s flagship original
equipment operation for research and product
development. In addition, we believe its
geographic location is ideally situated for the
automotive supply chain.”
About Exide Technologies
Exide Technologies, with operations in 89
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, are available at
www.exide.com.
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Media/Investor Contact |
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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 of 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, (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 and (e) statements regarding
the ability to comply with or alternatively obtain
amendments under the Company’s debt agreements.
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) adverse reactions by
creditors, vendors, customers, and others to, among
other things, the Company’s results, financial
conditions or compliance with financial covenants,
(ii) the Company’s ability to implement and fund
based on current liquidity business strategies and
restructuring plans, (iii) unseasonable weather
(warm winters and cool summers) which adversely
affects demand for automotive and some industrial
batteries, (iv) 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 (v) the Company’s ability to comply with the
covenants in its debt agreements or obtain waivers
of noncompliance, (vi) 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, (vii) the realization of the tax
benefits of the Company’s net operating loss carry
forwards, of which is dependent upon future taxable
income, (viii) 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, (ix)
competitiveness of the battery markets in North
America and Europe, (x) the substantial management
time and financial and other resources needed for
the Company’s consolidation and rationalization of
acquired entities, (xi) 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, (xii) the
Company’s exposure to fluctuations in interest rates
on its variable debt, (xiii) the Company’s ability
to maintain and generate liquidity to meet its
operating needs, (xiv) general economic conditions,
(xv) the ability to acquire goods and services
and/or fulfill labor needs at budgeted costs, (xvi)
the Company’s reliance on a single supplier for its
polyethylene battery separators, (xvii) the
Company’s ability to comply with the provisions of
Section 404 of the Sarbanes-Oxley Act of 2002,
(xviii) the ability to successfully pass along
increased costs to its customers, and (xix) the
Company’s ability to successfully resolve the $27.5
million fine with the U.S. Attorney’s Office for the
Southern District of Illinois.
Therefore, the Company cautions each reader of this
press release carefully to consider those factors
set forth above and those factors described in
Amendment No. 1 to the Company’s Registration
Statement on Form S-3 filed with the SEC on
September 14, 2005 and in the Company’s most recent
Form 10-Q filed on February 9, 2006 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.
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