READING, Pa., Jan. 27, 2014 /PRNewswire/ -- EnerSys (NYSE: ENS), the global leader in stored energy solutions for industrial applications, today announced that it has completed the acquisition of UTS Holdings Sdn. Bhd. headquartered in Kuala Lumpur, Malaysia (UTS). UTS and its subsidiaries Battery Power International Pte. Ltd. and IE Technologies Pte. Ltd. based in Singapore are regional market leaders with 20 years' experience in providing motive power and reserve power solutions within the Southeast Asian markets.
"This acquisition along with our recently announced investment in our India business continues to build on our strategy of geographic expansion into rapidly growing markets such as Asia," said John D. Craig, chairman, president and chief executive officer of EnerSys. "UTS is currently profitable. We anticipate that it will generate approximately $40 million in sales over the next 12 months and will be accretive to our Asia financial results."
"We look forward to welcoming the UTS organization to the EnerSys family and are excited to be able to provide our customers with a wider scope of products and services within the Southeast Asia region," commented Mark Tough, president of EnerSys Asia. "We are now able to provide within this region a total solution from design, implementation and a complete end to end solution for our customers."
About EnerSys: EnerSys, the world leader in stored energy solutions for industrial applications, manufactures and distributes reserve power and motive power batteries, battery chargers, power equipment, battery accessories and outdoor equipment enclosure solutions to customers worldwide. Motive power batteries and chargers 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 stored energy solutions including aerospace and defense systems. Outdoor equipment enclosure products are utilized in the telecommunication, cable, utility, transportation industries and by government and defense customers. 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, 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.
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, 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 acquired business; (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 earnings estimates, 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 September 29, 2013. No undue reliance should be placed on any forward-looking statements.
SOURCE EnerSys