Exide (NASDAQ:EXDTQ)
Historical Stock Chart
From May 2019 to May 2024
Exide Technologies Battery Supply Takes Off with Scandinavian Airlines System
PRINCETON, N.J., Jan. 12 /PRNewswire-FirstCall/ -- Exide Technologies,
(BULLETIN BOARD: EXDTQ) ( http://www.exide.com/ ), a global leader in stored
electrical-energy solutions, has secured a large order for motive power
batteries and a complete battery maintenance system from Scandinavian Airlines
Systems (SAS), the consortium of three national airlines for Norway, Sweden, and
Denmark that offers a broad range of airline services.
Long recognized as one of the best-run commercial airlines, SAS is Europe's 4th
largest carrier measured in total number of passengers with Europe's highest
share in business class service, and is a founding member of the Star Alliance
global airline network. Yet, faced with dire post-9/11 market conditions, SAS
launched a major restructuring initiative in 2002 targeting traffic, operations
and production systems to ensure the company's profitability and long-term
competitiveness.
Under this initiative, SAS recently acquired 68 LINDE tractors, each unit fitted
with 80 volt 620 Ah Exide motive power batteries and supported by a complete
Exide battery water maintenance system to maximize tractor fleet utilization.
These tractors will be used as baggage carriers at Kastrup Airport in
Copenhagen, Denmark, which is Scandinavia's major airport and one of the world's
best functioning, most punctual air transportation hubs. At Kastrup, SAS and
other airlines adhere to tight schedules, producing efficient reloading, shorter
lead times, and shorter transfer times that improve yield and reduce unit cost.
As part of this process, the dependability of the baggage handling fleet is
essential for efficient operations.
"This SAS order, aligned with our marketing alliance with LINDE, culminates the
development of a long-term relationship that positions Exide as SAS's preferred
partner," said Neil Bright, President of the Exide Technologies Industrial
Energy Business Group. "This coordinated supply arrangement-combining LINDE's
tractors with Exide's batteries, maintenance systems and services-illustrates
our commitment to achieving world-class products and services that make our
customers successful."
About Exide Technologies:
Exide Technologies, with operations in 89 countries and fiscal 2003 net sales of
approximately $2.4 billion, is one of the world's largest producers and
recyclers of lead-acid batteries. The company's two global business groups --
industrial energy and transportation -- provide a comprehensive range of stored
electrical energy products and services for industrial and transportation
applications.
Industrial uses include network power applications such as telecommunications
systems, electric utilities, railroads, photovoltaic (solar-power related) and
uninterruptible power supply (UPS); and motive-power applications for a broad
range of equipment uses, including lift trucks, mining vehicles and commercial
vehicles.
Transportation applications include automotive, heavy-duty truck, agricultural
and marine, as well as new technologies being developed for hybrid vehicles and
new 42-volt automotive applications. The company supplies both aftermarket and
original-equipment transportation customers.
Further information about Exide Technologies, its financial results and other
information can be found at http://www.exide.com/ .
Certain statements in this press release may constitute forward-looking
statements as defined by the Securities Litigation Reform Act of 1995. As such,
they involve known and unknown risks, uncertainties and other factors that may
cause the actual results of the company to be materially different from any
results expressed or implied by such forward-looking statements. These are
enumerated in further detail in the company's Form 10-K.
MEDIA CONTACT:
Jeannine Addams or Kristin Wohlleben
Tarkenton & Addams, Inc.
404/231-1132
INVESTOR CONTACT:
Doug Morris
Gavin Anderson & Company
212/515-1962
DATASOURCE: Exide Technologies
CONTACT: Media, Jeannine Addams or Kristin Wohlleben of Tarkenton &
Addams, Inc., +1-404-231-1132; or Investors, Doug Morris of Gavin Anderson &
Company, +1-212-515-1962
Web site: http://www.exide.com/