READING, Pa., June 26 /CNW/ -- EnerSys (NYSE: ENS), the world's largest
manufacturer, marketer and distributor of industrial batteries and
Accumulateur Tunisie Assad SA ("Assad"), the market leader in automotive
batteries in Tunisia and North Africa, announced today the formation of a new
joint venture company for the production and sale of industrial batteries. The
new company, EnerSys-Assad SARL, will be 51% owned by EnerSys and 49% by
John Craig, chairman, president and chief executive officer of EnerSys
stated, "This investment in Tunisia is a continuation of our stated strategies
to increase our production in lower cost regions of the world and to expand
our global market presence. Through this joint venture, EnerSys will gain
additional access to the fast growing African markets."
Abdelwaheb Kallel, chairman of Assad stated, "The new company will serve
as a further extension of our progressive development of our energy storage
business following our investments in capacity, technology and recycling in
the past year. This joint venture brings together the experience, technology
and capability of both companies to serve high growth markets."
Ray Kubis, president of EnerSys Europe commented, "The joint venture will
start production later this year in Tunis, focusing on high performance 12
volt products to increase our capacity for Motive and Reserve Power products.
This will include batteries required for the growing market for solar power
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 joint venture including any
impact on our financial and operating results and estimates, and any impact on
EnerSys' market position that may be realized from this program. 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 foregoing factors, among others, could cause actual results to
differ materially from those described in the forward-looking statements.
EnerSys may not realize benefits from this joint venture. 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. For a list of other factors, which could affect EnerSys'
results, see EnerSys' filings with the Securities and Exchange Commission,
including "Item 1A. Risk Factors," set forth in our EnerSys' Annual Report on
Form 10-K for the fiscal year ended March 31, 2008.
EnerSys, the world leader in stored energy solutions for industrial
applications, manufactures, distributes and services reserve power and motive
power batteries, chargers, power equipment, and battery accessories to
customers worldwide. Reserve power batteries are used in the
telecommunications and utility industries, uninterruptible power suppliers,
and numerous applications requiring standby power. Motive power batteries are
utilized in electric forklift trucks and other commercial electric powered
vehicles. 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.
For more information regarding EnerSys, please contact Richard Zuidema,
Executive Vice President, EnerSys, P.O. Box 14145, Reading, PA 19612-4145.
For further information:
For further information: Richard Zuidema, Executive Vice President of