READING, Pa., Oct. 14 /PRNewswire-FirstCall/ -- EnerSys (NYSE: ENS), the world's largest manufacturer, marketer, and distributor of industrial batteries, announced that recently it has been awarded contracts in the United States and Europe for submarine batteries with a value in excess of $20 million.
In the US, EnerSys has received a second consecutive contract award from the United States Navy to produce valve regulated lead acid (VRLA) batteries using its proprietary thin plate pure lead (TPPL) technology. This award represents 100% of the US Navy's requirement under their 2009 solicitation for VRLA submarine batteries. In February 2008, EnerSys was awarded its first production contract at the end of the successful culmination of a multi-million dollar multi-year cost sharing partnership between EnerSys and the US Navy.
"EnerSys has performed well on the first production contract and we believe provided a superior product," said John Craig, chairman, president and chief executive officer of EnerSys. "We are pleased that the US Navy has awarded us a second successive contract to supply all of their submarine battery needs."
EnerSys will continue to produce the submarine batteries at the Company's highly automated facility in Warrensburg, Missouri.
"The EnerSys team worked diligently throughout the ongoing initial production contract to maximize customer satisfaction and even met challenging delivery schedules as production started to ramp up. We have developed strong relationships with the US Navy teams at NSWC in Crane, Indiana, NAVSEA in Washington DC, submarine shipyards and other Navy sites," remarked Sanjay Deshpande, EnerSys vice president of Aerospace and Defense.
EnerSys has also recently received contracts in Europe for batteries for both nuclear and diesel electric submarines for existing and new customers. These batteries will be built in EnerSys' newly constructed specialty facility in Targovishte, Bulgaria.
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 submarine 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 contract awards.
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 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. The possibility that EnerSys may not realize revenue benefits from the contract awards within expected time frames, among other factors, could cause actual results to differ materially from those described in the forward-looking statements. 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' Quarterly Report on Form 10-Q for the fiscal quarter ended June 28, 2009.
For more information, contact Richard Zuidema, executive vice president, EnerSys, P.O. Box 14145, Reading, PA 19612-4145, USA. Tel: 800-538-3627; Website: http://www.enersys.com.
About EnerSys: 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 forklift trucks and other commercial electric powered vehicles. Reserve power batteries are used in the telecommunication 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 http://www.enersys.com.
SOURCE EnerSys
Richard Zuidema, EnerSys, executive vice president, +1-800-538-3627