EnerSys Purchases Battery Manufacturing Assets in Greece from Ergon Batteries Ltd.By Enersys, PRNE
Monday, March 14, 2011
READING, Pennsylvania, March 15, 2011 - EnerSys (NYSE: ENS), the global leader in stored energy solutions for
industrial applications, today announced that it has finalized the
acquisition of certain assets from Ergon Batteries Ltd., a Greek registered
company based near Athens. Ergon Batteries manufactures, assembles and
distributes lead and nickel based batteries, primarily to the Greek motive
power and reserve power markets.
"The company has been a good partner to EnerSys for a number of years and
a key distributor of our products, especially for the motive power market.
This acquisition gives us the opportunity to expand the range of our product
offering to the Greek market and will give better support to our existing
local customers," said John D. Craig, chairman, president and chief executive
officer of EnerSys.
EDITOR'S NOTE: EnerSys, the world leader in stored energy solutions for
industrial applications, manufactures and distributes reserve power and
motive power batteries, chargers, power equipment, and battery accessories to
customers worldwide. Motive power batteries are utilized in electric fork
trucks and other commercial electric powered vehicles. Reserve power
batteries are used in the telecommunications and utility industries,
uninterruptible power supplies, and numerous applications requiring standby
power. The company also provides aftermarket and customer support services to
its customers from over 100 countries through its sales and manufacturing
locations around the world.
More information regarding EnerSys can be found at
Caution Concerning Forward-Looking Statements
This press release and oral statements made regarding the subjects of
this release contains forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. These forward-looking
statements may include, but are not limited to, (i) statements regarding
EnerSys' plans, objectives, expectations and intentions and other statements
contained in this press release that are not historical facts, including
statements identified by words such as "expects," "anticipates," "intends,"
"plans," "believes," "seeks," "estimates," "will" or words of similar
meaning; and (ii) statements about the benefits of the acquisition of Ergon
Batteries Ltd., including any impact on our financial and operating results
and estimates, and any impact on EnerSys' market position that may be
realized from the acquisition.
These forward-looking statements are based upon management's current
beliefs or expectations and are inherently subject to significant business,
economic, and competitive uncertainties and contingencies many of which are
beyond our control. The following factors, among others, could cause actual
results to differ materially from those described in the forward-looking
statements: (1) our ability to successfully integrate the business of Ergon
Batteries Ltd.; (2) the possibility that EnerSys may not realize revenue
benefits from the acquired businesses within expected time frames; (3)
operating costs and business disruption following the acquisition , including
possible adverse effects on relationships with employees, may be greater than
expected; and (4) competition may adversely affect the acquired businesses
and result in customer loss. The statements in this press release are made as
of the date of this press release, even if subsequently made available by
EnerSys on its website or otherwise. EnerSys does not undertake any
obligation to update any forward-looking statement to reflect circumstances
or events that occur after the date such forward-looking statement is made.
Although EnerSys does not make forward-looking statements unless it
believes it has a reasonable basis for doing so, EnerSys cannot guarantee
their accuracy. The foregoing factors, among others, could cause actual
results to differ materially from those described in these forward-looking
statements. For a list of other factors which could affect EnerSys' results,
including ability to expand product offerings, see EnerSys' filings with the
Securities and Exchange Commission, including "Item 2. Management's
Discussion and Analysis of Financial Condition and Results of Operations,"
including "Forward-Looking Statements," set forth in the Company's Quarterly
Report on Form 10-Q for the period ended January 2, 2011. No undue reliance
should be placed on any forward-looking statements.
Richard Zuidema, Executive Vice President, EnerSys, +1-800-538-3627, or Fax +1-610-208-1807
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