Gordon A. Ulsh

Exide Technologies it is withdrawing the sale of its European Industrial Energy and Rest of World operations announced earlier this year. Gordon A. Ulsh, President and CEO said: „ ... we have decided not to proceed with the sale of our European Industrial Energy and ROW business, and instead intend to maximize the value of that business as part of our ongoing FY’07 Business Plan.” Exide Technologies, with operations in 89 countries, is a producer and recycler of lead-acid batteries. Exide`s net sales for the fourth fiscal quarter were $730.6 million compared to $712.8 million in the prior year quarter. The net loss for the fourth quarter of fiscal 2006 was $76.3 million compared with a net loss of $44.4 million. The company reported net sales of $2.82 billion in fiscal 2006 compared with $2.69 billion in fiscal 2005. Net loss as reported was $172.7 million compared with net loss of $466.9 million in last year.