Key Developments For Exide Technologies
Exide Technologies (XIDE.O) (Consolidated Issue listed on NASDAQ Global Market)
Exide Technologies Appoints E.J. O'Leary As President
Exide Technologies announced that Gordon Ulsh, President and Chief Executive Officer, has ceded the title of President to E.J. O'Leary. Effective immediately, Mr. O'Leary becomes President and Chief Operating Officer of the Company. He has served the Company as Executive Vice President and Chief Operating Officer since August 2007. Mr. Ulsh will continue serving as the Company's Chief Executive Officer.
Exide Technologies Reaffirms Q3, Q4 2010 EBITDA Guidance
Exide Technologies announced that it continue to anticipate achieving higher adjusted EBITDA for each of the third quarter of 2010 and fourth quarters of 2010 as compared to the third and fourth quarters of fiscal 2009. The Company reported EBITDA of $61.87 million in third quarter of 2009; EBITDA of $38.50 million in fourth quarter of 2009. According to Reuters Estimates, analysts were expecting the Company to report EBITDA of $59.42 million for fourth quarter of 2010.
Exide Technologies Comments On Q2, Q3, Q4 2010 EBITDA Guidance
Exide Technologies announced it expect to report significant sequential improved adjusted EBITDA in the second quarter of 2009. And, assuming no further significant contraction in the global economy and a rational pricing environment, it anticipate reporting higher adjusted EBITDA for the third and fourth quarters of 2010 as compared to the same quarters of fiscal 2009. The Company reported EBITDA of $61.87 million in third quarter of 2009; EBITDA of $38.50 million in fourth quarter of 2009. According to Reuters Estimates, analysts were expecting the Company to report EBITDA of $45 million for second quarter of 2010; EBITDA of $47 million for third quarter of 2010; EBITDA of $56 million for fourth quarter of 2010.
Exide Technologies Announces New Collaborations to Advance Lead-Acid Battery Chemistry
Exide Technologies announced that it has entered into a Cooperative Research and Development Agreement with the U.S. Department of Energy's Savannah River National Laboratory (SRNL) and the University of Idaho to develop and commercialize improvements on lead-acid battery technology. With Exide Technologies as the industrial partner, these two research institutions can collaborate on their unique strengths, with Exide providing the resources to commercialize the technologies to improve lead-acid battery performance. Exide anticipates the alliance to expedite development of advancements in lead-acid chemistry.
Exide Technologies Announces Partnership With Advanced Mobil Products, LLC
Exide Technologies announced that a new, exclusive partnership with Phoenix-based Advanced Mobil Products, LLC (AMP). AMP is developing a multi-national mobile battery replacement network of service providers within the United States and Canada. According to the terms of the five year agreement, the Company will supply AMP lead-acid automotive starting batteries for the mobile replacement marketplace. In turn, AMP will focus on developing and growing strategic relationships with customers throughout the United States and Canada.
