[March 16, 2005] Exide Technologies Announces Election of Mark C. Demetree to Board of Directors Tweet LAWRENCEVILLE, N.J. --(Business Wire)-- March 16, 2005 -- The Board of Directors of Exide Technologies (NASDAQ: XIDE, www.exide.com), a global leader in stored electrical-energy solutions, announced today it has elected Mark C. Demetree, 48, as Director. His appointment follows an earlier announcement by the Company, in its Form 8-K filed with the U.S. Securities and Exchange Commission on March 3, 2005, that the Board had voted to expand its membership by two Directors to a total of nine. Mr. Demetree, who will serve on Exide's Nominating and Governance Committee, is Chairman and CEO of US Salt Holdings, LLC, a producer of inorganic chemicals. He also is non-executive Chairman of the Board of Texas Petrochemical, Inc. (TXPI) and serves as a Director of American Italian Pasta Company (NYSE: PLB), where he is Chairman of the Compensation Committee. Mr. Demetree is the former President of North American Salt Company and a past President of Trona Railway Company. About Exide Technologies Exide Technologies, with operations in 89 countries, is one of the world's largest producers and recyclers of lead-acid batteries. The Company's two global business groups - transportation and industrial energy - provide a comprehensive range of stored electrical energy products and services for industrial and transportation applications. Transportation markets include original-equipment and aftermarket automotive, heavy-duty truck, agricultural and marine applications, and new technologies for hybrid vehicles and 42-volt automotive applications. Industrial markets include network power applications such as telecommunications systems, electric utilities, railroads, photovoltaic (solar-power related) and uninterruptible power supply (UPS), and motive-power applications including lift trucks, mining and other commercial vehicles. Further information about Exide, including its financial results, are available at www.exide.com. Forward-Looking Statements 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 Company's actual results to be materially different from any results expressed or implied by such forward-looking statements. Examples of forward-looking statements include, but are not limited to (i) statements of plans of and objectives of the Company or its management or board of directors, including the introduction of new products, or estimates or predictions of actions by customers, suppliers, competitors or regulating authorities, (ii) statements of future economic performance and (iii) statements of assumptions, such as the prevailing weather conditions in the Company's market areas, underlying other statements and statements about the Company or its business. Factors that could cause actual results to differ materially from these forward looking statements include, but are not limited to, the following general factors such as: (i) the Company's ability to implement business strategies and restructuring plans, (ii) unseasonable weather (warm winters and cool summers) which adversely affects demand for automotive and some industrial batteries, (iii) the Company's debt and debt service requirements which may restrict the Company's operational and financial flexibility, as well as imposing interest and financing costs, (iv) the fact that lead, a major constituent in most of the Company's products, experiences significant fluctuations in market price and is a hazardous material that may give rise to costly environmental and safety claims, (v) competitiveness of the battery markets in North America and Europe, (vi) the substantial management time and financial and other resources needed for the Company's consolidation and rationalization of acquired entities requires , (vii) risks involved in foreign operations such as disruption of markets, changes in import and export laws, currency restrictions and currency exchange rate fluctuations, (viii) the Company's exposure to fluctuations in interest rates on its variable rate indebtedness, (ix) general economic conditions and (x) the Company's ability to acquire goods and services and/or fulfill labor needs at budgeted costs. Accordingly, the Company cautions each reader of this press release to carefully consider these factors, because these factors have, in some instances, affected and in the future could affect, the Company's ability to achieve its projected results and may cause actual results to differ materially from those expressed herein. The Company is under no obligation to update its forward-looking statements. These are enumerated in further detail in the company's most recent Form 10-Q filed on February 14, 2005. [ Back To TMCnet.com's Homepage ]