For an undisclosed sum Exide will acquire the principal assets of Delta, British Columbia, Canada-based Mountain Power. The privately-held company specializes in the design and commercialization of high performance, large capacity rechargeable lithium-ion batteries for the telecommunications, utility, industrial, medical and military markets. The transaction is expected to close on or before November 13, 2008. Mountain Power products feature lithium-ion technology that can be used in numerous stationary and motive power applications, from standard Uninterruptible Power Supply (UPS) systems to advanced applications in the military, renewable energy sector and alternative transportation markets. The company has developed a proprietary battery management system (BMS) that provides additional monitoring features for proven lithium-ion cell technologies. The BMS consists of software and hardware that control all aspects of the battery operation, including remote communications.

Exide results in Q2/2009

Fiscal 2009 second quarter of Exide consolidated net sales increased 6% to $914.2 million as compared to net sales of $861.9 million in the fiscal 2008 second quarter. Consolidated net loss for the fiscal 2009 second quarter was $10.2 million compared to a net loss for the fiscal 2008 second quarter of $14.8 million. The fiscal 2009 second quarter’s results include restructuring charges of $9.2 million. These charges are principally the result of an accelerated reduction in force program in Europe and Australia.