EnerSys Awarded $13 Million in Submarine Battery Contracts
READING, Pa., July 15 /PRNewswire-FirstCall/ -- EnerSys (NYSE: ENS), the world's largest manufacturer, marketer and distributor of industrial batteries, announced that it has been awarded contracts for submarine batteries worth over $13 million in recent weeks. The batteries are scheduled for delivery over the next several years.
The orders were received from HDW, the German shipbuilder, and are for the supply of submarine batteries for propulsion power on diesel electric vessels with several navies worldwide. The contracts include the supply of the batteries as well as the ongoing maintenance and technical support for the customers. The batteries will be manufactured in EnerSys' new special purpose submarine battery facility in Europe.
"EnerSys and its predecessor companies have been supplying submarine batteries for more than 100 years," said John Craig, chairman, president & chief executive officer of EnerSys. "Our submarine batteries are respected for their quality and service and are employed by navies around the world in both diesel electric and nuclear submarines. These latest contracts confirm our strong global position in supplying batteries for the defense sector."
"These latest contracts have been won against strong international competition and reflect our commitment to continue growth in this important sector with value-added, effective energy storage solutions for our land, sea and airborne defense applications," said Ray Kubis, president, EnerSys Europe.
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 contracts including any impact on our financial and operating results and estimates, and any impact on EnerSys' market position that may be realized from these contracts. 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 these contracts. 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 EnerSys' Annual Report on Form 10-K for the fiscal year ended March 31, 2008.
About EnerSys
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.
SOURCE EnerSys
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