EnerSys (NYSE: ENS), the world's largest manufacturer, marketer and distributor of industrial batteries, announced today that it has purchased Keystone Mountaineer Power Systems, Inc., a leading battery supplier to the mining industry.
Keystone Mountaineer, which is headquartered in Washington, PA, is also a leading provider of industrial motive power batteries and chargers in the Pittsburgh area. Keystone Mountaineer provides mining services primarily to the major mines in the Northern Appalachian coal basin.
"We believe that with this acquisition EnerSys will be able to leverage our existing technology to enhance our position in the global mining market," said John A. Shea, Enersys’ executive vice president - Americas. "With our global product portfolio, which includes innovative mining support products, we believe we can continue to build on the strong reputation of Keystone Mountaineer."
Caution Concerning Forward-Looking Statements
This press release and oral statements made regarding the subjects of this release, contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may include, but are not limited to, (i) statements regarding EnerSys' plans, objectives, expectations and intentions and other statements contained in this press release that are not historical facts, including statements identified by words such as "expects," "anticipates," "intends," 'plans," "believes," "seeks," "estimates," "will" or words of similar meaning; and (ii) statements about the benefits of the acquisition of Keystone Mountaineer Power Systems, Inc., including any impact on financial and operating results and estimates, and any impact on EnerSys' market position that may be realized from the acquisition.
These forward-looking statements are based upon management's current beliefs or expectations as of the date of such statement and are inherently subject to significant business, economic, and competitive uncertainties and contingencies many of which are beyond our control. The following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements: (1) our ability to successfully integrate Keystone Mountaineer Power Systems, Inc.; (2) the possibility that EnerSys may not realize revenue benefits from the acquisition within expected time frames; (3) operating costs and business disruption following the acquisition, including possible adverse effects on relationships with employees, may be greater than expected; and (4) competition may adversely affect the acquired business and result in customer loss. For a list of other factors which could affect EnerSys’ results, see EnerSys’ filings with the Securities and Exchange Commission, including “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations,” including “Forward-Looking Statements,” set forth in EnerSys’ Annual Report on Form 10-K for the fiscal year ended March 31, 2009. No undue reliance should be placed on any forward-looking statements.
The statements in this press release are made as of the date of this press release, even if subsequently made available by EnerSys on its website or otherwise. EnerSys does not undertake any obligation to update any forward-looking statement to reflect circumstances or events that occur after the date such forward-looking statement is made.
For more information, contact Richard Zuidema, executive vice president, EnerSys, PO Box 14145, Reading, PA 19612-4145, USA. T: 800-538-3627
EnerSys (enersys.com), the world leader in stored energy solutions for industrial applications, manufactures and distributes reserve power and motive power batteries, chargers, power equipment, and battery accessories to customers worldwide. Motive power batteries are utilized in electric forklift trucks and other commercial electric powered vehicles. Reserve power batteries are used in the telecommunication and utility industries, uninterruptible power suppliers, and numerous applications requiring standby power. The company also provides aftermarket and customer support services to its customers from over 100 countries through its sales and manufacturing locations around the world.