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Delaware
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23-3058564
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(State or other jurisdiction of
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(IRS Employer
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incorporation)
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Identification No.)
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[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Information to be included in the report
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EnerSys
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Date: February 22, 2006
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By:
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/s/ Frank M. Macerato
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Frank M. Macerato
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Vice President & General Counsel
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Exhibit No.
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Description
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EX-99.1
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Press Release, dated February 22, 2006, of EnerSys regarding the Modular Energy Devices, Inc. transaction.
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EnerSys Invests in Lithium-Ion Battery Business
Reading, PA, February 22, 2006 /PRNewswire-FirstCall/ -- EnerSys (NYSE: ENS), the world's largest
manufacturer, marketer and distributor of industrial batteries, announced today that it has purchased a
controlling interest in Modular Energy Devices, Inc. (ModEnergy), a development stage company.
ModEnergy produces large format lithium-ion rechargeable batteries utilized in aerospace and defense
applications as well as specialized standby power and commercial applications.
ModEnergy, based in Westerly, Rhode Island, has developed a proprietary method for assembling
lithium-ion cells into battery systems that are designed to be safer and more cost effective than
competitive products currently available.
John D. Craig, chairman, president and CEO of EnerSys, said "The ModEnergy investment gives us a
foothold in the emerging lithium-ion segment of the industrial battery market and supplements our
already broad
line of battery offerings. This investment is targeted towards our aerospace and defense
battery business and will complement our lead-acid and nickel based specialty product lines in the
standby and specialty battery markets."
Sanjay Deshpande, EnerSys vice president for Aerospace and Defense, who will serve as general manager
of ModEnergy, added, "EnerSys first contracted ModEnergy to develop a specific product for a military
application, which has been tested successfully by a government agency, and we then proceeded to make
the investment in ModEnergy. We are confident that ModEnergy will be an excellent springboard for the
continued growth of our business in the targeted markets for these products."
Stephen Spencer Eaves, founder and vice president of Technology for ModEnergy, remarked, "We are
excited about having EnerSys as our strategic partner, with its global reach and operations. We have had
one of our products under field test in a telecommunications applica
tion, which has shown favorable
results to date. With this investment by EnerSys, we will move forward with the accelerated
commercialization of our technology and products in many markets around the world."
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 investment in ModEnergy's lithium-ion battery technology, including any impact on
fin
ancial and operating results and estimates, and any impact on EnerSys' market position that may be
realized from the investment.
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
commercialize ModEnergy's lithium-ion battery technology; (2) the possibility that EnerSys may not
realize revenue benefits from the proposed investment within expected time frames; (3) operating costs
and business disruption following the proposed investment, including possible adverse effects on
relationships with employees, may be greater than expected; and (4) competition may adversely affect
ModEnergy's business and result in custom
er loss. 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 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 suppliers, and numerous applications
requiring standby power. The company also provides aftermarket and customer support services to its
customers fr
om over 100 countries through its sales and manufacturing locations around the world.
More information regarding EnerSys can be found at http://www.enersys.com.