EnerSys Acquires South American Battery Business
READING, Pa., Oct. 17, 2011 /PRNewswire/ -- EnerSys (NYSE: ENS), the global leader in stored energy solutions for industrial applications, today announced that it has completed the acquisition of Industrial Battery Holding S.A., the parent company of EnerSystem, a market leader in the South American motive power and reserve power battery markets. EnerSystem has more than 20 years of experience in manufacturing, marketing and servicing industrial batteries and is headquartered in Buenos Aires, Argentina with manufacturing plants in Argentina and Brazil as well as operations in Chile.
"This acquisition builds on our strategy of geographic expansion into rapidly growing markets such as South America and our recently announced transaction in South Africa. This is our third transaction completed in as many weeks with the other being our investment in the German lithium-ion joint venture, which builds on our strategy of investing in non lead-acid battery technologies," said John D. Craig, chairman, president and chief executive officer of EnerSys. "These investments will allow EnerSys to continue to provide supporting our customers globally with solutions to that best fit their needs."
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 stored energy solutions including aerospace and defense systems. 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 visit the EnerSys 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 Industrial Battery Holding 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 Industrial Battery Holding 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 July 3, 2011. No undue reliance should be placed on any forward-looking statements.