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Exide Technologies to Supply Batteries
for Next-Generation Toyota Tundra Truck
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Alpharetta, Georgia - (March 19, 2007)
- Exide Technologies (NASDAQ: XIDE, www.exide.com), a global
leader in stored electrical-energy solutions, announces a new
supply agreement with Toyota Motor Engineering & Manufacturing
North America. Exide has begun shipping lead-acid starting
batteries for the next generation of Toyota Tundra trucks
assembled at Toyota Motor Manufacturing, Texas, Inc. (TMMTX) in
San Antonio, the automotive manufacturer’s $1.28 billion
assembly facility which began operations in November 2006.
According to the terms of the supply contract, Exide will
provide TMMTX group 24 and 27 starting batteries — with an
annual capacity of 200,000 units — for the Texas-produced Tundra
truck. The batteries are manufactured at Exide’s Bristol,
Tennessee facility and shipped from Exide’s San Antonio branch
location.
“To be selected by Toyota as the exclusive battery supplier to
TMMTX to help power the next generation of one of the world's
best-selling vehicles is testament to the marketplace’s
confidence in our product quality, customer service and
unsurpassed commitment to helping our business partners succeed,
" said E.J. O’Leary, President of the Transportation-Americas
business division for Exide Technologies. “Equally important,
the expansion of our supply agreement with Toyota demonstrates
that this very important customer recognizes and highly values
the strength of Exide’s branch network.”
Exide currently supplies Toyota with batteries for its North
American-produced Camry and Avalon cars, Tundra trucks and
Sequoia sport-utility vehicles. The new supply agreement
continues a long-standing, successful relationship between Exide
Technologies and Toyota Motor Engineering & Manufacturing North
America that began in 1988.
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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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Forward-Looking Statements
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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, (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) 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 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, (iv) competitiveness
of the battery markets in North America and Europe, (v) the
Company's ability to maintain and generate liquidity to meet its
operating needs, (vi) general economic conditions, (vii) the
ability to acquire goods and services and/or fulfill labor needs
at budgeted costs, (viii) the Company's reliance on a single
supplier for its polyethylene battery separators, and (ix) 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 Form 10-Q filed on
February 7, 2007 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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