Exide Technologies ,a global leader in stored electrical-energy solutions, has appointed Luke Lu as President ─ Asia Pacific, effective October 1. Reporting to President and Chief Executive Officer Gordon Ulsh, Lu will be responsible for providing overall leadership and direction for the Company’s business in the Asia Pacific region. He will be based in
Lu brings a broad range of industry experience to his new role at Exide. Most recently, he served Johnson Controls in a variety of capacities including Vice President, Sales and Marketing – Asia Pacific Battery Group; Acting General Manager for Chongqing Joint Venture; and Commercial Director, China and Southeast Asia.
Prior to that, he worked at General Electric Corporation, where his roles included a position as Greater China Marketing and Application Development Manager for the company’s Toshiba Silicones division and Pacific Tech-Marketing Manager for GE Silicones in
Lu holds a Ph.D. in Inorganic and Physical Chemistry from
The Exide Asia Pacific business top-line revenues represent both Exide’s Industrial Energy and Transportation businesses. More than 900 employees across the region support a number of different operations: Transportation manufacturing plants in Elizabeth (Adelaide), Australia and Gujarat (Ahmedabad), India; Industrial Energy battery assembly operations in Padstow (Sydney), Australia, and Hosur (Bangalore), India; a recycling facility in Petone (Wellington), New Zealand; and sales offices and distribution centers in locations including Japan, China, Hong Kong, Singapore, Malaysia, Indonesia, Thailand, Philippines, India, Australia, and New Zealand.
"Luke brings a unique combination of specialized knowledge and depth of experience to his new, Shanghai-based position,” said Exide President and Chief Executive Officer Gordon Ulsh. “We anticipate that he will help us in our efforts to capitalize on profitable growth opportunities in this rapidly developing geographic market.”
About Exide Technologies
Exide Technologies, with operations in more than 80 countries, is one of the world's largest producers and recyclers of lead-acid batteries. The Company's four global business groups -- Transportation Americas, Transportation Europe and Rest of World, Industrial Energy Americas and Industrial Energy Europe and Rest of World -- 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
Except for historical information, this press release may be deemed to contain "forward-looking" statements. The Company desires to avail itself of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 (the "Act") and is including this cautionary statement for the express purpose of availing itself of the protection afforded by the Act. The Company undertakes no obligation to publicly update or revise any forward-looking statement in this or any prior forward-looking statements whether as a result of new information, future developments or otherwise.
Examples of forward-looking statements include, but are not limited to, (a) projections of revenues, cost of raw materials, income or loss, earnings or loss per share, capital expenditures, growth prospects, dividends, the effect of currency translations, capital structure and other financial items, (b) statements of plans 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, (c) statements of future economic performance and (d) 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 and fund based on current liquidity 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 substantial debt and debt service requirements which may restrict the Company's operational and financial flexibility, as well as imposing significant interest and financing costs, (iv) the litigation proceedings to which the Company is subject, the results of which could have a material adverse effect on the Company and its business, (v) the realization of the tax benefits of the Company's net operating loss carry forwards, which is dependent upon future taxable income, (vi) 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, (vii) competitiveness of the battery markets in North America and Europe, (viii) the substantial management time and financial and other resources needed for the Company's consolidation and rationalization of acquired entities, (ix) risks involved in foreign operations such as disruption of markets, changes in import and export laws, currency restrictions, currency exchange rate fluctuations and possible terrorist attacks against U.S. interests, (x) the Company's exposure to fluctuations in interest rates on its variable debt, (xi) the Company's ability to maintain and generate liquidity to meet its operating needs, (xii) general economic conditions, (xiii) the ability to acquire goods and services and/or fulfill labor needs at budgeted costs, (xiv) the Company's reliance on a single supplier for its polyethylene battery separators, (xv) the Company's ability to successfully pass along increased material costs to its customers, (xvi) the Company's significant pension obligations over the next several years.
Therefore, the Company cautions each reader of this press release carefully to consider those factors set forth above and those factors described in the Company's Form 10-K filed on June 11, 2007 and its Form 10-Q filed on August 7, 2007, because such factors have, in some instances, affected and in the future could affect, the ability of the Company to achieve its projected results and may cause actual results to differ materially from those expressed herein.
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