ALPHARETTA, Ga., May 20, 2008 (PRIME NEWSWIRE) -- In conjunction with its new agreement with Robert Bosch Corporation, Exide Technologies (Nasdaq:XIDE) (www.exide.com), a global leader in stored electrical-energy solutions, announces a new supply agreement with Pep Boys. Starting this month, Exide will begin shipments of Bosch branded automotive starting batteries to all Pep Boys stores across the United States and in Puerto Rico.
According to the terms of the contract, Exide will supply nearly 600 Pep Boys locations with a wide range of automotive batteries, adding to the Pep Boys Bosch-branded lineup that includes 16 different SKUs -- a range that fits more than 90 percent of vehicles on the road today in both the United States and Puerto Rico.
Broadview, Illinois-based Robert Bosch Corporation is the wholly-owned U.S. subsidiary of Robert Bosch GmbH, headquartered in Stuttgart, Germany. The company manufactures precision automotive components and systems sold to vehicle and powertrain manufacturers worldwide. Pep Boys is one of the only aftermarket retail and service chains in the nation that serves all four segments of the automotive aftermarket: the do-it-yourself, do-it-for-me, buy-for-resale and replacement tires.
"This is a powerful alliance. The Bosch brand -- the premium battery offering at all of Pep Boys retail locations -- further expands Exide's reach into the automotive marketplace," said Bruce Cole, President - Transportation Americas for Exide Technologies.
The Exide Bosch-branded batteries are manufactured and distributed at Exide's Salina, Kansas and Bristol, Tennessee facilities. In addition, Exide will service Pep Boys stores through its extensive customer service network.
"Exide's new relationship with Robert Bosch has presented our Company with an exceptional opportunity with Pep Boys that takes best advantage of our strengths and capabilities," said Gordon Ulsh, President and Chief Executive Officer of Exide Technologies. "Our affiliation with two very strong companies also is an indication that our new partners recognize the high quality and technological innovation that Exide integrates into the premium products and services we provide."
(XIDE-C)
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.
The Exide Technologies logo is available at http://www.primenewswire.com/newsroom/prs/?pkgid=5067
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 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 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 its variable debt, (vii) general economic conditions, (viii) the ability to acquire goods and services and/or fulfill labor needs at budgeted costs, (ix) the Company's reliance on a single supplier for its polyethylene battery 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 SEC 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.