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Exide Technologies Appoints
Vice President, Global Research and Engineering
Company Establishes New Position
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Alpharetta, Georgia - (June 9, 2008)
- Exide Technologies (NASDAQ: XIDE, www.exide.com), a global
leader in stored electrical-energy solutions, announced today
the appointment of Paul Cheeseman, Ph.D., as Vice President,
Global Research and Engineering, effective June 24. Reporting to
EJ O’Leary, Chief Operating Officer for Exide Technologies, Dr.
Cheeseman will be responsible for leading the Company’s Global
Engineering and Research and Development (R&D) organization.
During the past several years, each operating division at Exide
conducted its own engineering according to product line and
application. Under Dr. Cheeseman’s leadership, the newly
consolidated function will allow the Company to utilize
technology across applications, maximize efficiencies and
accelerate the global growth of new products.
“The integration of Engineering and R&D efforts and activities
at Exide is another phase in our Company’s journey to achieving
world leadership. Paul will help us align our efforts in
developing the next generation of products, technologies and
services that can be marketed via a unified platform,” said Mr.
O’Leary. “Furthermore, with Paul’s expert guidance and ability
to direct and develop engineering organizations, we’re now
poised to begin infusing real commonality across our product
lines. The intent is that Exide will be able to more quickly
adapt to the needs of a continually changing marketplace and
have a stronger position as a global provider of stored
electrical energy.”
A strategic thinker adept at working cross functionally, Dr.
Cheeseman brings more than 25 years of technical experience in
multiple battery systems to his new role at Exide. He served
most recently as Senior Vice President, R&D and Quality, at
Spectrum Brands, Inc., (formerly Rayovac), a global consumer
products company.
During his 10 years with the company, Dr. Cheeseman led four
global research and development integration programs following
acquisitions and oversaw the efforts of approximately 150
scientists and engineers. He also was responsible for government
contract research; the development of the strategy for the
globalization of R&D; and establishing a technology portfolio
management system across the lines of the business. While there,
Dr. Cheeseman also was Vice President of Battery Technology, a
role in which he was responsible for the introduction of a
variety of innovative, rechargeable products and for the
development of a collaborative approach to improve cost
reduction.
Prior to his time at Spectrum Brands, Dr. Cheeseman spent 16
years at Duracell, the world's leading manufacturer and marketer
of high-performance alkaline batteries. He held a variety of
roles at the company, including Director, Lithium Ion Technology
and Director of Operations, New Products Division.
Dr. Cheeseman was instrumental on a variety of business
development initiatives at Duracell, and his contributions
included the development of lithium-ion batteries; building
strong technology relationships with multiple Japanese partners;
establishing an operations infrastructure for the business that
included engineering, quality, purchasing and prototyping.
Dr. Cheeseman holds a Ph.D. in Chemistry and a Bachelor of
Science with Joint Honors in Chemistry and Materials Science. He
earned both degrees from the University of Nottingham in the
United Kingdom.
"The realignment of Engineering and R&D at Exide, in conjunction
with Paul’s appointment as Vice President, Global Research and
Engineering, underscores the continued positive transformation
at our Company," said Gordon Ulsh, President and Chief Executive
Officer of Exide Technologies. “With a strong record of cost
improvement leadership, and his excellent grasp of global
systems and innovative processes required for successful product
development, Paul will be instrumental in strengthening our
competitive position in the global marketplace.”
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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, are available at
www.exide.com.
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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 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
realization of the tax benefits of the Company's net operating
loss carry forwards, which is dependent upon future taxable
income, (vi) 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, (vii) competitiveness of
the battery markets in North America and Europe, (viii) 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, (ix) general economic
conditions, (x) the ability to acquire goods and services and/or
fulfill labor needs at budgeted costs, (xi) the Company's
reliance on a single supplier for its polyethylene battery
separators, (xii) the Company's ability to successfully pass
along increased material costs to its customers, and (xiii) the
loss of one or more of the company's major customers for its
industrial and transportation products.
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-K filed on June
9, 2008, 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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Media Contacts
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Investor Contact
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Carol Knies
Senior Director of Investor Relations
Exide Technologies
678/566-9316 phone
carol.knies@exide.com
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