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ALPHARETTA, Ga.--Exide Technologies (www.exide.com), a global leader in stored electrical-energy solutions, announces anew supply agreement with Toyota Motor Engineering and ManufacturingNorth America. The Company has begun shipping lead-acid starting batteriesfor the next generation of Toyota Corolla and Matrix passenger vehicles assembled at Toyota Motor Manufacturing Canada (TMMC) in Cambridge, Ontario.
According to the terms of the supply agreement, Exide will provideTMMC up to 244,000 group size 24 and 35 starting batteries annually forthe Canada-produced passenger vehicles. The batteries are manufactured at Exide’s Bristol, Tennessee facility and shipped from Exide’s distribution center in Mississauga, Canada.
“Our new supply agreement with Toyota continues a productive, 20-year relationship between ExideTechnologies and Toyota Motor Engineering and Manufacturing North America,” said Bruce Cole, President of the Transportation-Americas business division for Exide Technologies. “Exide’s strong, expanding alliance with this respected customer is a resultof our drive to achieve continuous improvement in both operational processes and product quality.”
Exide currently supplies Toyota with batteries for its North American-produced Camry and Avalon cars, Tundra trucks and Sequoia sport-utility vehicles.
“One of the factors contributing toExide’s increasing strength is building stronger relationships with existing customers such as Toyota,” said GordonUlsh, President and Chief Executive Officer of Exide Technologies. “This supplier relationship also is indicative of Exide’s ability to adapt to today's rapidly evolving worldwide vehicle manufacturer standards.”
About Exide Technologies
Exide Technologies, with operations in more than 80 countries, is oneof 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 Americasand Industrial Energy Europe and Rest of World -- provide a comprehensive range of stored electrical energy products and services forindustrial 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 applicationssuch as telecommunications systems, electric utilities, railroads, photovoltaic (solar-power related) and uninterruptible power supply (UPS), and motive-power applications including lift trucks, miningand other commercial vehicles.
Further information about Exide, including its financial results, are available at www.exide.com.
Forward-LookingStatements
Except for historical information, this press release may be deemedto 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 ofthe protection afforded by the Act. The Company undertakes no obligationto publicly update or revise any forward-looking statement in this orany prior forward-looking statements whether as a result of newinformation, future developments or otherwise.
Examples of forward-looking statements include, but are not limitedto, (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 actionsby customers, suppliers, competitors or regulating authorities, (c) statements of future economic performance and (d) statements of assumptions, such as the prevailing weather conditions in theCompany's market areas, underlying other statements and statements about the Company or its business.
Factors that could cause actual results to differ materially fromthese forward-looking statements include, but are not limited to, the following general factors such as: (i) the Company's ability to implement and fund 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 wellas imposing significant interest and financing costs, (iv) 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, (v) competitiveness of the battery markets in North America and Europe,(vi) the Company's exposure to fluctuations in interest rates on itsvariable debt, (vii) general economic conditions, (viii) the ability toacquire goods and services and/or fulfill labor needs at budgeted costs, (ix) the Company's reliance on a single supplier for its polyethylenebattery separators, and (x) 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 Annual Report on Form 10-K for the fiscal year 2007 and its most recent interim report filed with the SECbecause such factors have, in some instances, affected and in the futurecould affect, the ability of the Company to achieve its projected resultsand may cause actual results to differ materially from those expressed herein.
(XIDE-C)
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