EXDT Exide's Network Power Business Group to Supply Batteries for U.S. Navy
LOMBARD, Illinois, May 15 /PRNewswire/ -- The GNB Industrial Power division of the Network Power Business Group of Exide Technologies has been awarded two contracts for a total of $3.4 million by the United States Navy Naval Sea Systems Command in Washington, D.C. GNB Industrial Power, based in Lombard, Illinois, is the primary source of the main storage batteries to the U.S. Navy used aboard nuclear submarines.
Under the terms of the first contract, GNB will provide a replacement battery used for critical emergency back up aboard the nuclear-powered USS Seawolf (SSN21) submarine, launched in June 1995. The second contract requires GNB to provide the main storage battery used for similar critical emergency backup for the newest Seawolf Class USS Jimmy Carter (SSN23). The Jimmy Carter is under construction at the General Dynamics Electric Boat Division in Groton, Connecticut, and is scheduled for launch in 2004. In today's nuclear submarines, the primary purpose of the battery system is to supply the power to restart the nuclear reactor. However, in emergencies, it is capable of supplying power for propulsion and all vital life support systems.
As the electric storage energy needs of the U. S. Navy evolve with new vessels, weapons and technologies, GNB Industrial Power continues to develop and provide the Navy new products, processes and services.
"Our role is to help the U.S. Navy maintain its world leadership by providing operationally superior and affordable energy storage systems," said George Hunt, Director of Government and Military Business for GNB Industrial Power. "We are committed to that goal and continue to develop new and revolutionary energy storage solutions for tomorrow's Navy."
The batteries will be manufactured at the Company's facility in Kankakee, Illinois. The plant's submarine battery manufacturing operation recently received the International Organization for Standardization quality certification ISO 9002. The facility has supplied submarine energy storage batteries to the U.S. Navy since World War II and built the original battery set for the USS Seawolf in 1995.
"Military applications represent a significant market for industrial and transportation batteries of a wide range of applications and technologies," said Mitch Bregman, President of the Exide Technologies Network Power Global Business Unit. "Around the world, we're a major supplier of stored electrical energy, supporting the most demanding military requirements."
About Exide Technologies:
Exide Technologies (OTC Bulletin Board: EXDT - News) is the world's largest industrial and transportation battery producer and recycler with operations in 89 countries.
Industrial applications include network-power batteries for telecommunications systems, fuel-cell load leveling, electric utilities, railroads, photovoltaic (solar-power related) and uninterruptible power supply (UPS) markets; and motive-power batteries for a broad range of equipment uses, including lift trucks, mining vehicles and commercial vehicles.
Transportation uses include automotive, heavy-duty truck, agricultural, marine and other batteries, 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 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 CONTACTS:
Bruce Cole: 630/691-7849
Exide Technologies
Jeannine Addams or Kristin Wohlleben
Tarkenton & Addams: 404/231-1132
INVESTOR CONTACT:
Gregory Pettit, Gavin Anderson & Company:
212/515-1962
SOURCE: Exide Technologies |
