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Exide Technologies Enters Ford Warranty Reduction Program
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Princeton, N.J. - January 21, 2003 - Exide Technologies (OTCBB: EXDTQ, www.exide.com), a global leader in stored electrical energy solutions, has entered into a new warranty reduction program (WRP) with its original equipment customer, Ford Motor Company. Ford, which celebrates its 100th anniversary in 2003, developed the WRP as a sliding scale incentive to reward all of its suppliers who help reduce warranty expenses.
Exide is an original equipment supplier of automotive starting batteries for the Crown Victoria, Econoline, Explorer, F-Series, Grand Marquis, Mountaineer, Ranger, Sable and Taurus car models. The Exide Technologies WRP is designed to reward model-year over model-year improvements in warranty performance on original equipment batteries it supplies to Ford.
"The WRP aligns the common objectives of Exide Technologies and Ford to provide best-in-class customer satisfaction. And both of our companies have equity in reducing warranty claims," said Craig H. Muhlhauser, Chairman and CEO of Exide Technologies. "The program also will continue to improve quality, reduce costs and allow Exide to be swifter to market with products and services that will support Ford in addressing its customer concerns."
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| About Exide Technologies
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Exide Technologies, with operations in 89 countries and fiscal 2002 net sales of approximately $2.4 billion, is one of the worlds largest producers and recyclers of lead-acid batteries. The company's three global business groups - transportation, motive power and network power -- 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, fuel-cell load leveling, 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, its financial results and other information is available at www.exide.com.
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Media Contact
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Jeannine Addams or Kristin Wohlleben, Tarkenton & Addams, Inc.: 404-231-1132
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Investor Contact
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Mayura James, Gavin Anderson & Company: 212-515-1978
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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 actual results of the company to be materially different from any results expressed or implied by such forward-looking statements. These are enumerated in further detail in the company's Form 10-K.
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