GENNEVILLIERS, France, Dec. 6, 2011 (GLOBE NEWSWIRE) -- Exide Technologies (Nasdaq:XIDE), a global leader in stored electrical-energy solutions, announced the production of its 2,500,000 micro-hybrid battery in Europe. These advanced lead acid batteries are used in vehicles with Start-Stop systems aimed to cut the fuel consumption and CO2 emissions. Exide began production of these batteries in 2009 and they are now produced in two Exide plants in Italy and Spain.
In 2004, Exide Technologies was the first in the market supplying an Absorbent Glass Mat (AGM) technology-based micro-hybrid battery for the Citroen C3. Exide was also first in the market, in 2009, with the Enhanced Cycling Mat (ECM) technology, used by well known European car manufacturers to power their Start-Stop systems. Both the AGM and ECM batteries are 100 percent recyclable thus having a positive impact on the environment throughout the life span of the battery.
Today, a total of 10 European car manufacturers rely on Exide AGM and ECM batteries to be on-board their micro-hybrid vehicles. Exide Technologies is the second largest supplier of Start-Stop batteries in Europe. Since 2010, Exide has doubled its output of Start-Stop batteries and will invest an additional $80 million to upgrade the production capacity for micro-hybrid batteries in Europe. There, Exide is on its way to expand production from two plants today to four plants. In the US, Exide Technologies started the production of AGM batteries in 2010.
The advanced lead acid batteries allow deep cycling combined with high charge acceptance, supporting Start-Stop, Energy Recuperation, Intelligent Charging and other advanced power train features to reduce CO2 emission and fuel consumption.
"We see micro-hybrid vehicles as a mainstream development and expect 70 percent of all combustion cars converting to this technology," said Michael Geiger, Exide's Vice President, Original Equipment Sales, Europe. "Europe is leading the trend and we see other countries following very shortly."
In Europe, the automobile industry must comply with strict emission standards. CO2 emissions for new passenger cars are limited to 130g/km by 2015 and 95g/km by 2020. The industry must be 60 percent compliant with these standards by 2012. Similar targets are also being set for Light Commercial Vehicles, requiring less CO2 emitting fleets in the future.
"These two technologies are truly the future for the automotive industry both in Europe and around the world," said Michael Ostermann, President of Exide Technologies Europe. "Our plan to focus on expanding production of this technology will allow us to strategically locate our plants near our customers – thus sustaining our close relationships and optimizing costs."
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.
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 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) 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, (vi) competitiveness of the battery markets in the Americas and Europe, (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, (vii) the ability to acquire goods and services and/or fulfill later needs at budgeted costs, (xiii) general economic conditions, (viii) the Company's ability to successfully pass along increased material costs to its customers, (ix) recently adopted U.S. lead emissions standards and the implementation of such standards by applicable states, and (x) (xviii) those risk factors described in the Company's fiscal 2011 Form 10-K filed on June 1, 2011.