EnerSys Announces $75M Long-Term Contract with the United States Navy for Thin Plate Pure Lead (TPPL) Batteries
READING, Pennsylvania, July 30, 2018 -
EnerSys® (NYSE: ENS), the global leader in stored energy solutions for industrial applications, has recently been selected to supply its proprietary Thin Plate Pure Lead (TPPL) batteries to the United States Navy as main storage batteries on all four classes of Nuclear Submarines. The contract has a maximum value of $74.9M over its multi-year duration.
EnerSys has been the supplier of its TPPL batteries to the United States Navy for over ten years. This recent production contract is a continuation of a long-term supplier relationship.
“The critical nature of this energy storage application cannot be overstated, and our entire EnerSys team is proud to have the United States Navy extend our production relationship through this new contract award,” said David M. Shaffer, President and Chief Executive Officer at EnerSys. Jeffery Long, President Americas at EnerSys added, “As the only supplier of TPPL submarine batteries to the United States Navy we are excited to continue the advancement of our proprietary technology to meet the needs of this very demanding application. In addition to TPPL products, EnerSys advanced lithium cobalt and proprietary lithium ion-chemistries are truly ‘Powering Submarines to Satellites’ every day.”
For more information on EnerSys and its full line of products, systems and support, visit www.enersys.com.
EnerSys, the global leader in stored energy solutions for industrial applications, manufactures and distributes reserve power and motive power batteries, battery chargers, power equipment, battery accessories and outdoor equipment enclosure solutions to customers worldwide. Motive power batteries and chargers 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 supplies, and numerous applications requiring stored energy solutions including medical, aerospace and defense systems. Outdoor equipment enclosure products are utilized in the telecommunication, cable, utility, transportation industries and by government and defense customers. 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.
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, or the Reform Act, which may include, but are not limited to, statements regarding EnerSys' earnings estimates, plans, objectives, expectations, intentions and estimated value of contracts with the U.S. Navy and other statements contained in this press release that are not historical facts, including statements identified by words such as "believe," "plan," "seek," "expect," "intend," "estimate," "anticipate," "will," and similar expressions. All statements addressing operating performance, events, or developments that EnerSys expects or anticipates will occur in the future, including statements relating to sales growth, earnings or earnings per share growth, and market share, as well as statements expressing optimism or pessimism about future operating results, are forward-looking statements within the meaning of the Reform Act. The forward-looking statements are based on management's current views and assumptions regarding future events and operating performance, and are inherently subject to significant business, economic, and competitive uncertainties and contingencies, satisfying conditions and obligations contained in contracts and changes in circumstances, many of which are beyond EnerSys' control. 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 or revise these statements to reflect events or circumstances occurring after the date of this press release.
Although EnerSys does not make forward-looking statements unless it believes it has a reasonable basis for doing so, EnerSys cannot guarantee their accuracy. The foregoing factors, among others, could cause actual results to differ materially from those described in these forward-looking statements. For a list of other factors which could affect EnerSys' results, including earnings estimates, see EnerSys' filings with the Securities and Exchange Commission, "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, 2018. No undue reliance should be placed on any forward-looking statements.
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